Analysis of the 1000x Track: Can the Exciting Bitcoin Ecosystem’s ARC20 Protocol Trigger Fomo?
Introduction
Recently, a new protocol under the BTC ecosystem, ARC20, made a stunning debut, quickly capturing the attention of the market. Numerous blockchain KOLs and users within the Bitcoin ecosystem have expressed high interest in it.
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To understand the ARC20 protocol and its ecosystem mechanism, one must first understand the Atomicals protocol.
The Atomicals protocol is built on the Bitcoin network. Through the Atomicals protocol, it is possible to mint, transfer, and upgrade digital items like native digital NFTs, gaming NFTs, digital identities, domain names, social networks, etc., on the Bitcoin network. It also allows for the creation of interchangeable tokens. This interchangeable token is what is known as the ARC20 token.
The Atomicals protocol fully utilizes the UTXO feature of Bitcoin, using satoshi as the unit of account. This means that any digital item created based on the Atomicals protocol can have its transaction history traced and verified for authenticity. Users, wallets, project parties, and any other individuals or institutions can achieve trust in digital items through the Bitcoin network + Atomicals protocol. Therefore, the Atomicals protocol has a clear vision, which is to ensure the rights of digital items.
The Atomicals protocol is highly compatible with BTC characteristics. NFTs built on the Atomicals protocol can be created and transferred on the BTC network without the need for indexers or other intermediaries, without changes to BTC L1, and without the need for L2 or sidechains to accomplish these tasks. This has made it a focus of attention and relatively favored by the technical community.
Having explained the conceptual logic, let’s describe Atomicals in a simpler way for easier understanding:
The Atomicals protocol is a simple and flexible protocol, a way of organizing the creation, transfer, and updating of digital objects — it is essentially a chain of digital ownership defined by some simple rules.
Its core is that the operations of minting, transferring, and updating need to follow some key simple rules.
The grand vision is to establish and protect the Bitcoin blockchain as a source of truth and digital sovereignty.
Furthermore, the Atomicals protocol is open-source, available for anyone to use for free.
It aims to work in coordination with other protocols that have emerged (such as Nostr, Ordinals, etc.). Each protocol has its different strengths.
5 Major Functions and Features
1. Ability to create special types of atomic digital objects, known as domains.
2. ARC20 tokens, a decentralized minting factory.
3. Introduction of GPU mineable tokens, demonstrating proof of work and energy consumption, Bitwork mining.
4. Use of recursion and references to create hierarchies and include atomic digital objects.
5. Permanent file storage.
What is ARC-20
The ARC20 protocol is an interchangeable colored coin standard supported by Satoshi, which can be understood as another type of asset protocol implemented on the Bitcoin network. It aims to provide a more efficient and flexible way to create and manage digital assets. Similar to BRC20, the ARC20 protocol also supports the creation of various types of tokens on the Bitcoin blockchain.
It is noteworthy that ARC20 has a built-in naming system, and once named, it is globally unique, with no second occurrence. For example, after being named ATOM, there will not be a second ARC20 token named ATOM, ensuring uniqueness.
Features of ARC-20
· Efficiency: The ARC20 protocol is more efficient in processing transactions and managing assets.
· User-Friendly: It offers a more user-friendly interface, making it easy for non-technical users to create and manage tokens.
· Scalability: ARC20 tokens can be easily integrated into various applications and platforms, offering good scalability.
· Low Barrier: Compared to BRC20, ARC20 reduces the need for third-party sorters, increasing the system’s decentralization and better aligning with the culture of the BTC community.
SuperEx to Launch ARC-20 Tokens
SuperEx is about to launch a series of tokens under the ARC-20 protocol and provide one-stop services for ARC-20 participants, similar to the one-stop services of a car 4S shop: sale, spare part, service, survey.
At the same time, in order to celebrate the launch of a series of tokens of the ARC20 protocol and to promote the prosperity and development of the BTC ecosystem. SuperEx is launching an airdrop event for the leading ARC-20 token, ATOM. Users who have participated in ARC-20, BRC-20, PIPE, and future trading on SuperEx are eligible to participate in this event and receive $ATOM airdrops for free.
The airdrop event goes live today, so stay tuned!
The emergence of Atomicals marks the beginning of a major explosion in the ecosystem of Bitcoin inscriptions. Compared to the BRC20 inscription track, the current surge in ARC20 tokens is just the first wave of the ARC20 market, and it will need to settle before a better future can be expected.
With the continuous development and maturation of blockchain technology, we can foresee that the BRC20 and ARC20 protocols will play an increasingly important role in the Bitcoin ecosystem. They will promote the creation of new applications and services, thereby driving the development of the entire cryptocurrency industry.
