CBRC-20 protocol is a new star in the "BRC-20" series in the past half month. This phenomenon is actually quite special and interesting. The reason is that in the past half month, a lot of attention has actually shifted to the hype of various public chains outside the Bitcoin ecosystem, such as Solana, AVAX, INJ, etc. Within the Bitcoin ecosystem, although the market value of BRC-20 related assets is still large enough to have a relatively dominant position, other protocols such as Atomicals and NostrAssets have also diverted a considerable amount of attention and funds.

My definition of the pure "BRC-20" series includes not only BRC-20 itself, but also Tap Protocol and CBRC-20. Interestingly, these two protocols have a strong influence in the English-speaking community, to the point where players in the Chinese-speaking community emphasize that "many foreigners like them". However, Tap Protocol and CBRC-20 have a lower degree of innovation, and their project histories are mild and tumultuous, respectively.

Tap and CBRC-20, one is a "patch" and the other is a "mod"

Before talking about CBRC-20, let's briefly talk about Tap Protocol. Overall, Tap is a reinforced patch for BRC-20, like adding some patches to a game that already has a fun version to enhance the experience. Overall, Tap's functions, such as releasing the 4-character limit on tickers, batch airdrops, and Swap inscriptions, are actually more updates at the indexing level - how to represent some pain points/unimplemented functions of BRC-20 using JSON, and then let the indexer understand these behaviors. That's it.

Tap belongs to the TRAC ecosystem of Beny. TRAC has many loyal foreign fans, and overall there have been no surprises. Foreigners have always liked "General B" to publish various criticisms of centralized indexes and launch crazy attacks.

CBRC-20 is actually a modification based on the BRC-20 protocol. In order to maintain the stability of the index, the Ordinals v0.9.0 version was used as the unified standard for indexing. Based on this, the new features of the Ordinals protocol v0.9.0 version cannot be used in the BRC-20 protocol. Therefore, a new version was created by combining the basic functional logic with the new features. If Tap and CBRC-20 are both considered as "private servers" of BRC-20, the former is a "classic server" with all patches applied, while the latter is a "modified server" with many new contents.

The Ordinals protocol introduced two new fields for defining "metaprotocol" and "metadata" in the inscription since version 0.10.0. The most direct effect of these two new fields is to significantly shorten the lengthy and repetitive text of the BRC-20 protocol during deployment/minting/transfer, thereby achieving the effect of reducing costs and simplifying indexing.

The above figure is an example of the deployment inscription of BRC-20. For CBRC-20 that has introduced "metadata", only the three lines of "tick", "max" and "lim" inside the curly braces need to be left, and the reduced amount of information is also compressed into a smaller .cbor file for use.

And "metaprotocol" directly informs the index which protocol specification to use to understand the instructions. For casting and transfer, the instructions are simplified to this form:

Compare the content size between BRC-20.

BRC-20, transfer operation content size 57 bytes

CBRC-20, transfer operation content size 4 bytes

"Metaprotocol" and "metadata" bring another interesting aspect to the CBRC-20 Token, which is the lack of type restrictions. This creates a feeling of "transformation" of weapons and equipment in games - for example, you can mint 1000 CBRC-20 Tokens and attach a CryptoPunks image when executing the minting command, making it either 1000 CBRC-20 Tokens or 1 Punk. Tap has actually tried a similar experiment by adding a Logo field to the Token, which can reference the Inscription ID and let the index handle it. However, Tap relies on its own index, while CBRC relies on the new Ordinals protocol feature.

--file can be used to specify a file

CBRC-20 is the "appetizer" created by the team that split from the original OSHI team. In addition to CBRC-20, some members of the original OSHI team are also working on a larger universal index called Moto. In short, any developer can submit their own FT standards to Moto, and Moto will combine and stack these standards to achieve asset interoperability across FT protocols.

CBRC-20 Hot Token Inventory

BORD

CBRC-20 is the first token with a total supply of 21 million. Currently, one token is worth approximately 2.2 U, with a corresponding market value of around 46.2 million U. One of the major features of CBRC-20 is that there are no type restrictions, meaning it can be a coin or not a coin. For example, the deployment inscription of $BORD is not in text format, but rather an HTML file introducing CBRC-20.

NODE

The first practical Token on CBRC-20, providing bulk casting services for CBRC-20 Token on Discord. The total amount is 10,000 pieces, and the current lowest price for one Token is about 200 U, corresponding to a market value of about 2 million U.

SYSM

A double-sided inscription that can be recognized by both the CBRC-20 protocol and the BRC-20 protocol. The total amount is 21 million, and the current lowest price for one token is about 0.12 U, corresponding to a market value of about 2.52 million U.

Here you may be a little confused - didn't we just mention a v 0.10.0 and a v 0.9.0, how can two different versions of the Ordinals protocol index be compatible? Let me give you an analogy to help you understand.

The original inscription is like being loaded into an "envelope" (OP_FALSE OP_IF OP_PUSH content content content and content... OP_ENDIF). The index needs to be opened and read word by word to know what protocol the inscription in the envelope represents (which index to work with), what it represents, and what needs to be done...

"metaprotocol" is like writing on an envelope that I am an inscription of a certain protocol. The index interprets my instructions according to the instructions of a certain protocol. The index of v 0.10.0 knows that this is a CBRC-20 inscription. Continuing to read, it is found that the body is written according to the BRC-20 index. At this time, the index of v 0.9.0 knows that this is a BRC-20 inscription. It may not be appropriate, but there is a part that can be understood.

9999

Performance art, 9 to mechanism, just look at the picture below and you'll understand:

Currently, the market value is approximately over 1 million U.

CBRC-20 Common Tools

铭刻 - https://cybord.org/thecraft.html (You can also Mint without tipping)

Market - https://ordinalnovus.com/ (there are still many things that haven't been done well, such as not being able to sort by unit price, and it looks messy).

Conclusion

Based on the current market performance, except for the first token $BORD, the rest are relatively flat, which is similar to Tap...

Although the market performance is similar, CBRC-20 has made significant progress compared to Tap, with its underlying positioning upgraded from patch upgrades to modification. Of course, the greater value lies in Moto (formerly part of the Oshi team). The new CBRC-20 Token from Moto has been deployed and has completed the snapshot of the old BRC-20 Token from Oshi, preparing to launch a new Token and start again. Unless Tap also invites $TRAC to its own protocol, CBRC-20 has already formed a suppressive trend in the narrative at this stage.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia