Bitcoin Ordinals Launchpad Introduces BRC-69 Standard, 90% Reduction
Key Points:
- Bitcoin Ordinals platform Luminex proposes BRC-69 standard to reduce inscription costs and optimize block space.
- Recursive inscriptions allow inscriptions to work together, reducing costs by over 90%.
- BRC-69 enables on-chain pre-reveal process, paving the way for more enhancements and features.
Bitcoin Ordinals launchpad platform Luminex has proposed the BRC-69 standard to improve the ease of creating Recursive Ordinals collections on the Bitcoin blockchain.
Recursive inscriptions were introduced last month to overcome Bitcoin’s 4 MB per block size limitation, which restricts the size of NFTs. These inscriptions work together, allowing them to reference the content of other inscriptions using a special syntax.
Luminex’s BRC-69 proposal could reduce inscription costs by more than 90%, which would optimize the Bitcoin block space as the number of inscriptions grows. This reduction is achieved through a 4-step process of inscribing traits, deploying a collection, compiling it, and minting the assets. The proposal means that minters would only need to inscribe a single line of text rather than a full image, which would serve as a reference, allowing the final image to be automatically rendered across Ordinals frontends using on-chain resources.
This proposal not only has the potential to save costs, but also pave the way for more enhancements and features. For example, launching collections with a fully on-chain pre-reveal process would mean the unveiling of the collection, including the final image and its associated traits, would happen directly on the blockchain without requiring off-chain resources.
The Ordinals protocol came to prominence earlier this year, enabling the creation of tokens and NFTs on the Bitcoin blockchain. This caused a surge in transactions and fees on the network. With the new BRC-69 standard, Recursive Ordinals collections will be even easier to create and manage, which could lead to further growth in the use of Bitcoin NFTs and tokens in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
Author
Bitcoin
Bitcoin Ordinals Launchpad Introduces BRC-69 Standard, 90% Reduction
Key Points:
- Bitcoin Ordinals platform Luminex proposes BRC-69 standard to reduce inscription costs and optimize block space.
- Recursive inscriptions allow inscriptions to work together, reducing costs by over 90%.
- BRC-69 enables on-chain pre-reveal process, paving the way for more enhancements and features.
Bitcoin Ordinals launchpad platform Luminex has proposed the BRC-69 standard to improve the ease of creating Recursive Ordinals collections on the Bitcoin blockchain.
Recursive inscriptions were introduced last month to overcome Bitcoin’s 4 MB per block size limitation, which restricts the size of NFTs. These inscriptions work together, allowing them to reference the content of other inscriptions using a special syntax.
Luminex’s BRC-69 proposal could reduce inscription costs by more than 90%, which would optimize the Bitcoin block space as the number of inscriptions grows. This reduction is achieved through a 4-step process of inscribing traits, deploying a collection, compiling it, and minting the assets. The proposal means that minters would only need to inscribe a single line of text rather than a full image, which would serve as a reference, allowing the final image to be automatically rendered across Ordinals frontends using on-chain resources.
This proposal not only has the potential to save costs, but also pave the way for more enhancements and features. For example, launching collections with a fully on-chain pre-reveal process would mean the unveiling of the collection, including the final image and its associated traits, would happen directly on the blockchain without requiring off-chain resources.
The Ordinals protocol came to prominence earlier this year, enabling the creation of tokens and NFTs on the Bitcoin blockchain. This caused a surge in transactions and fees on the network. With the new BRC-69 standard, Recursive Ordinals collections will be even easier to create and manage, which could lead to further growth in the use of Bitcoin NFTs and tokens in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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