Risks and opportunities of Bitcoin ecology (2)

Last time we mainly introduced the BRC-20 and ORC-20 standards. In addition to them, there is a Bitcoin NFT standard similar to Ethereum's ERC-721: BRC-721.

**BRC-721 introduces a new field definition set compared to the NFT that simply uses Ordinals to mint Bitcoin. This makes Bitcoin NFT minted with BRC-721 more similar to Ethereum's ERC-721 NFT, which is more in line with the habits of Ethereum NFT users. However, in terms of data storage, it seems that it is still witness data, so there are still hidden dangers. **

For these new standards and their tokens, especially the BRC-20 and ORC-20 standards and tokens, the support of major exchanges is unusually active and swift.

Not long ago, Mouan published a report on various standards in the Bitcoin ecosystem. Not only BRC-20 and ORC-20 are mentioned in this report, but another token standard SRC-20 is also mentioned.

It may be because BRC-20 has a preconceived advantage in China in terms of time and location, so most domestic players and several major exchanges mainly focus on BRC-20. Although SRC-20 is occasionally mentioned, it has caused a lot of repercussions Not big.

But when I browsed overseas communities, I found that the popularity of SRC-20 is much higher overseas, not only not inferior to BRC-20 but even surpassed to some extent. For ORC-20, the attention is quite low.

**Similar to BRC-20, SRC-20 is also a standard for issuing homogeneous tokens, which is based on a new type of STAMPS protocol. Based on this agreement, both homogeneous SRC-20 tokens and non-homogeneous tokens NFT can be issued. This NFT is called a Bitcoin Stamp (Bitcoin Stamp). **

The biggest technical difference between SRC-20/Bitcoin Stamps and BRC-20/Ordinals NFT is that the latter stores data in witness data, while the former stores data directly in transaction data. Purely from a technical point of view, the former seems to be more secure than the latter.

In addition, Bitcoin stamps have two special features:

**One is that it is more similar to Ethereum's ERC-1155 than ERC-721. **

**The second is that it was developed based on Counterparty, a classic Bitcoin protocol born in 2014. **Because there is such an inheritance relationship technically, the transaction of Bitcoin stamps is currently done on Counterparty.

Regarding Counterparty, I have introduced it in the previous article. It has issued the homogeneous token XCP, and also issued the very classic NFT in the early days of Bitcoin----Rare Pepe, which was born in 2016.

The distribution method of Rare Pepe is very similar to ERC-1155 (I even wonder if the founder of ERC-1155 was inspired by Rare Pepe to invent this standard). And now Bitcoin stamps are traded in exactly the same way as Rare Pepe.

These characteristics make many old players in the early years of Bitcoin automatically think of Rare Pepe when they see Bitcoin stamps. And these active old players are now actively joining the ecology of Bitcoin stamps and creating various NFTs.

The NFT they create is obviously more style and characteristic of old players in terms of form and content --- bolder, more exaggerated, and more geek.

In fact, the inventor of Bitcoin stamps, "Mike in Space", is an old player and geek in the Bitcoin community, and he has been paying attention to the development of the Bitcoin ecosystem. In the SRC-20 community, you can often see Mike in Space personally giving various explanations and answering questions to newbie users, revealing some technical progress and status.

**Although SRC-20/Bitcoin stamps have their own advantages, they also have their own disadvantages----that is, the cost of casting is high and the related infrastructure is far inferior to BRC-20: such as SRC-20 generation Bitcoin does not yet have trading tools, and the trading method of Bitcoin stamps is too old and troublesome for many users who have only used Ethereum. **

But overseas players seem to tolerate the disadvantages of SRC-20/Bitcoin stamps, and pay more attention to their advantages in data non-deletable and non-tamperable.

In addition, what is more important is that a group of overseas geeks including Mike in Space are intensively developing related technical facilities, hoping to make up for these shortcomings as soon as possible.