From Query to Understand: Open the Wealth Password of In_script_ions

2023-12-21, 06:40

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![](https://gimg2.gateimg.com/image/article/1690791857hotspot.jpeg)
## TL；DR
Number the satoshi and use it as a basis for data storage and trading, endowing each satoshi with unique value and significance;

The core issue of in_script_ions is still the scalability of <a href="/uk/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>, and the essence is still the struggle between large and small blocks;

The Taproot upgrade of BTC has brought about a subtle change, which has once again brought attention to the BTC ecosystem;

The projects related to in_script_ions cover tracks such as wallets, cross chains, trading markets, minting tools and data analysis.

## Introduction
With the continuous development and innovation of the Bitcoin ecosystem, a new concept is attracting widespread market attention - Ordinals.

The introduction of the Ordinals protocol has brought new application prospects to Bitcoin. Its core is to assign unique value and significance to each SATS by numbering it and using it as a basis for data storage and trading.

The working principle of the Ordinals protocol can be summarized as "numbering+inscribing." It first ensures its uniqueness and irreplaceability by assigning a unique serial number to each satoshi. This serial number is like every smart ID card, it is proof of its existence in the Bitcoin ecosystem. Then, the Ordinals protocol uses this serial number to attach any type of data (such as text, images, videos, etc.) to a specific device, a process known as "inscribing."

The process of engraving is similar to creating a smart contract on the blockchain, where metadata and satoshi's serial number are encoded and stored on the blockchain. Once the transaction is confirmed, the metadata and satoshi's serial number will be permanently stored on the blockchain, becoming an immutable part.

In this way, each satoshi not only has a unique serial number, but also unique information and story, making it a new type of non-fungible token (NFT).
![](https://gimg2.gateimg.com/image/article/1703140545img_v3_026b_18393747-6965-4047-9510-1a0798df20ix.jpg)

## Is the In_script_ion Garbage?
As early as the beginning of the month (December 6th), the post by Bitcoin core developer Luke Dashjr caused a huge shock in the in_script_ions market. Luke stated that In_script_ion is exploiting a vulnerability in the Bitcoin core client Bitcoin Core to send spam messages to the blockchain. Since 2013, Bitcoin Core has allowed users to set additional data size limits when forwarding or mining transactions. By blurring its data into program code, the in_script_ion bypasses this limitation.

The author makes an inappropriate analogy, which is equivalent to the fact that WeChat red envelopes were originally transferred, but now every time I transfer 1 cent to you, the two of us insist on chatting through the notes on the red envelope. Although it is difficult to say that this is an exploit, it is highly likely to be abusive or even meaningless.

Moreover, normal Bitcoin does not support making NFTs, but it is achieved through this form of "transfer+note." Meanwhile, by using Taproot technology, it bypassed the original upper limit of notes and increased it from a few bytes to a maximum of 512 bytes.
![](https://gimg2.gateimg.com/image/article/1703140585img_v3_026b_818037fa-069e-4f4e-a93f-f9ccbba7b6ix.jpg)

This will write a large amount of redundant junk information into the Bitcoin block, increasing the storage burden of the entire node. The core issue of in_script_ions is still the scalability of Bitcoin, and the essence is still the competition between large and small blocks. The in_script_ion is certainly driven by market demand, but Bitcoin is still a small cup. The in_script_ion is playing a tornado inside the cup, and squeezing it will inevitably result in normal trading being squeezed.

But in fact, blockchain itself is achieved through a large number of nodes, using consensus algorithms to jointly complete accounting. Some people also say that blockchain is redundant. The decentralization brought about by this redundancy is what some people hope for. Similarly, this redundancy brings some more interesting things to the Bitcoin ecosystem, believing that incorporating collectibles into Bitcoin is not only interesting but also useful.

Although Luke Dashjr once believed that BRC-20 and the In_script_ion protocol bypassed the data size limit of Bitcoin blocks and forcibly inserted a large amount of junk data into the blocks, this approach would cause an unnecessary burden on nodes as it would increase their network speed, bandwidth, and storage capacity expenses. If this situation continues for a long time, it will continuously reduce the degree of decentralization in Bitcoin networks.

But he also affirmed the view that Bitcoin Layer 2 is the new destination for BRC-20 and bluntly stated that it is not necessary to eliminate all in_script_ions in order to bring benefits to the Bitcoin network.

## Insight into the Value of In_script_ions
Last year, BTC's Taproot upgrade brought about a subtle change, which once again brought attention to the BTC ecosystem.

This upgrade has laid an important foundation for the development of BTC from financial attributes to adoption attributes. With the emergence of new protocols such as Ordinals, Drivechain, BitVM, and Taprot Asset, the adoption properties of Bitcoin have further developed.
![](https://gimg2.gateimg.com/image/article/1703140624img_v3_026b_0b196d54-8d94-4237-b9d4-6990746212ix.jpg)

The in_script_ion value of BTC shares similarities with the jewelry value of gold, both of which can be showcased and condensed into a partially separated aesthetic consensus. The similarity of this value form means that if you understand this logic, you will understand why the in_script_ion has recently regained its vitality after its seemingly brief appearance in March this year.

The uniqueness of in_script_ions lies not only in the various images or characters they currently carry, but also in the possibility of carrying more information in the future. These pieces of information may become new value anchors, just like the bowl used by Emperor Qin Shi Huang, which is not just an ordinary bowl, but also carries historical and cultural values. Therefore, the value of in_script_ions may far exceed that of BTC itself, as they may become new value anchors.

## Selected In_script_ion Projects
The projects related to in_script_ions cover various tracks such as wallets, cross chain, trading markets, casting tools, data & queries, etc. We have selected 5 projects that may become the next star track and share them with everyone. Non-investment suggestions are for reference only, and we are looking for infrastructure related to in_script_ions.
![](https://gimg2.gateimg.com/image/article/1703140655img_v3_026b_933bb54d-f921-4634-8f06-ee784b4e22ix.jpg)

**Unisat**
Unisat is a non-custodial open-source Bitcoin In_script_ion plugin wallet that supports Ordinals and BRC20, helping users store, mint, and transmit BRC20 tokens, including buying and selling BTC, NFT, domain names, and more. In addition, Unisat Marketplace is an Insights market on the Bitcoin chain under Unisat that is based on PSBT and supports BRC-20 assets. In November, it ranked fourth in the NFT market with a trading volume of $41 million.
![](https://gimg2.gateimg.com/image/article/1703140686img_v3_026b_4213d0b3-2f36-464a-bf6f-2d26c53c1cix.jpg)

**BIIS**
BIIS aims to create the ultimate integrated and convenient technology stack for BRC20 tokens, positioned as the "BRC Ecosystem Toolbox" for developers and users. It aims to provide a comprehensive set of integration tools for project developers and users, including batch distribution and collection of BRC20 tokens, batch distribution and collection of NFT assets such as BRC-721, and other integration tools. In the future, a fully automated asset release platform will also be launched, Support multi-modal asset release modes such as Free Mint/AirDrop/IDO, and provide the project team with an engraved Dao voting system to achieve automated project release and decentralized community governance.
![](https://gimg2.gateimg.com/image/article/1703140710img_v3_026b_d37c17b0-2297-4b45-843e-2a03fa9f2fix.jpg)

**MultiBit**
MultiBit is a cross-chain protocol between BRC20 and ERC20, based on the BRC20 bidirectional cross chain bridge design, aimed at achieving cross chain transmission between BRC20 and ERC20 tokens.
![](https://gimg2.gateimg.com/image/article/1703140734img_v3_026b_6b11479d-74d7-4dac-a125-4101e4c723ix.jpg)

**GeniiData**
GeniiData is an Ordinals ecosystem data analysis platform that provides the popularity index and ranking data of BRC20 tokens, supporting users to capture real-time casting of hot in_script_ions and NFTs.

Meanwhile, it has launched the ORC-20 indexing service, which mainly displays information on ORC-20 token deployment, including maximum supply, current coin minting status, and whether it can be upgraded, ORC-20 token holder information, transaction records, and the ability to verify transaction status.
![](https://gimg2.gateimg.com/image/article/1703140765img_v3_026b_fff3d0f9-247e-42ab-ad0c-e358b8268eix.jpg)

**Magic Eden Bitcoin**
Magic Eden Bitcoin is a Bitcoin ecosystem NFT market launched in March this year, allowing users to list, purchase, and sell Ordinals. In addition, Magic Eden has also launched the Bitcoin Launchpad, aimed at helping creators directly launch the Ordinals protocol and create Bitcoin NFTs on Magic Eden Launchpad.

## Conclusion
In the world of blockchain, new concepts are constantly being proposed, and the current in_script_ion race is like this, as if all public chains are beginning to "in_script_ion culture."

We are in a field where wealth codes switch rapidly, and it is difficult for you to be distracted even for a second, because the next second someone may make a profit on a project you know but are not sure about. This kind of profit or loss effect attracts capital to continuously <a href="/uk/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a> into the in_script_ion ecosystem, forming the Matthew effect, which makes more people flock to it.

In summary, although the emergence of in_script_ions has accelerated the development of the Bitcoin blockchain towards a state that has always been almost full, it may lead to increased congestion in the Bitcoin network and make the use of Bitcoin more expensive. But we should be more aware that the emergence of Bitcoin Ordinals has broken the traditional concept of NFTs, bringing new application prospects to the Bitcoin ecosystem by endowing each individual with unique value and significance.

There are still some challenges at present, and we should believe that with the continuous progress of technology and the expansion of application scenarios, we have reason to believe that in_script_ions will play a greater role in the future and drive innovation and development of the entire Bitcoin ecosystem.

<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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