After reading the Web3Caff Research analyst ShirleyLi's lengthy report on the Bitcoin Atomicals protocol.

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NingNing
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1 year ago

After reading the lengthy research report on the Bitcoin Atomicals protocol by ShirleyLi, a researcher at Web3Caff, I gained a clearer understanding of the technical details of the Atomicals protocol and the evolutionary history of the inscription protocol.

The first principle of the Bitcoin inscription protocol is to increase the consensus load of the Bitcoin main network as restrained as possible. When designing the underlying mechanism, the Atomicals protocol adhered well to this principle, to the extent that when Casey, the founder of the Ordinals protocol, introduced the homogenized inscription protocol Runes protocol, he drew on many design ideas from the Atomicals protocol.

In addition, the Commit-Reveal design of the Digital Objects sub-protocol (a non-homogenized inscription protocol) and the Bitwork Mining mechanism of ARC20 (a homogenized inscription protocol) within the Atomicals protocol also reflect how the community's concept of "fair launch" has influenced protocol design.

These details reflect the current complex ideological consciousness within the Bitcoin ecosystem, presenting a marvelous combination of small-block conservatism and left-wing fair narrative, which brings many restrictions and challenges to the design of homogenized inscription protocols.

For example, in order to increase the consensus load of the Bitcoin main network as restrained as possible, Atomicals chose to store the inscription information and holding addresses separately in the hex field and output field of UTXO, rather than storing the inscription information in the form of a Json file in SegWit as BRC20 does. The Runes protocol adopted this design, only redefining the transfer and allocation mechanisms.

Another example is the introduction of the PoW mechanism in the Bitwork Mining mechanism of ARC20 (a homogenized inscription protocol) to achieve a so-called fairer fair launch. However, in reality, the minting activities of ARC20 inscriptions (such as the recent Quark) have become a frenzy for scientists and miners to seize early chips using technological and computational advantages.

⛓️ Research report link: https://t.co/mTQBw1DQbt

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