ARC-20 Token Introduction

The Atomics Protocol introduces a new way to create and manage digital assets. It provides a simple and efficient way to represent ownership in the Bitcoin ecosystem. The ARC-20 token operates on the Atomics protocol but is independently created by the community. This article will explore the basic concepts of the Atomics protocol and the ARC-20 token.

What is the Atomics protocol?

Atomics is a free, open source protocol that enables the flexible creation of digital objects on Bitcoin or any other blockchain using the same unspent transaction output (UTXO) model. Each digital object is called an "atom" and essentially consists of a chain of digital ownership that follows a simple set of rules.

The Atomicals protocol can be used to mint, transfer and update various static or dynamic digital objects, including fungible tokens and non-fungible tokens (NFTs). Atoms are created through Bitcoin transactions, and the protocol is compatible with any Bitcoin wallet without the need for a separate chain, Layer 2 network, or third-party service.

What is ARC-20?

Inspired by the BRC-20 token standard, ARC-20 is built on the Atomics protocol and is an experimental token standard for homogeneous tokens (coloring ratio) on the Bitcoin network.

Each ARC-20 token is associated with a value of at least 1 Satoshi (the smallest unit of Bitcoin). This means that, by design, each ARC-20 token must be worth no less than 1 satoshi. However, this does not necessarily mean there will be demand for such tokens, so be sure to do your own research before investing.

It is worth noting that there is no official ARC-20 token launch yet. All existing ARC-20 tokens are created by the community and are not launched by the Atomics protocol team.

How does the ARC-20 token work?

ARC-20 tokens use satoshi units to represent digital ownership. Such tokens can be transferred, split, and combined just like regular units of BTC.

ARC-20 tokens have built-in code and domain name services to ensure that every code, symbol and domain name is unique. An ARC-20 code is only valid once minted and registered, i.e. it is permanent and cannot be used again.

Each ARC-20 token comes with all transaction records since its creation. This provides a more transparent and decentralized history for each object without the need for a centralized indexing service. This feature also helps improve system security and resolve common issues related to digital asset ownership.

Comparison between decentralized minting and direct minting

Decentralized minting

ARC-20 tokens can be minted mainly in two ways: decentralized minting and direct minting. If a decentralized minting method is adopted, the creator can flexibly specify parameters such as the total amount of coins allowed, the rewards for each coin minted, and the minting conditions. However, the distribution process is decentralized. Anyone can mint tokens over a period of time based on predefined parameters set by the creator.

Direct Minting

In contrast, direct minting involves creating a single transaction output that contains the entire token supply. This approach gives the creator full control over the supply and distribution of the token, but requires an upfront investment of satoshis equal to the expected token supply. Direct minting ensures that creators invest satoshis into the project, thereby increasing credibility and hopefully reducing the risk of fraud or runaway scams.

Atomicals use cases

There are many use cases for the Atomicals protocol and can be used in many areas:

• Media, digital collectibles and art

• Peer-to-peer trading and atomic swaps

• Game assets

• Network Hosting and storage

• Digital identity and authentication

• Virtual land and property registration

• Social media and online communities, etc.

Atomics protocol vs. Ordinal protocol

You may have noticed that there are some similarities between Atomics and Ordinal protocols, but the official documentation of Atomics claims that each protocol has different advantages and use cases, and the design of Atomics The original intention was to complement ordinal and other existing protocols.

Some of the main differences between the two protocols have to do with the simplified way Atomics is designed. Ordinal protocols only store one file at mint time, while Atomics allows one or more files to be stored at mint time.

In terms of address format, both protocols use P2TR (Taproot) addresses, but Atomics only requires addresses for minting and updating while Ordinal requires addresses for all purposes including minting and transfers . Atomics also has built-in code domain services and so-called Realm, as NFTs that can represent domain names and digital identities.

Another key difference is that the Atomics protocol prevents mining fee abuse, ensuring the protocol is used for its intended purpose. Due to its simple implementation, it is impossible to mistakenly use atoms as mining fees. Additionally, you can easily verifythat ownership has been transferred to the correct payee without having to rely on third-party indexers.

ARC-20 トークンが重要な理由

ARC-20 トークンは、トークンのインデックス付けと管理の標準化された方法を提供し、ビットコイン エコシステムでのデジタル資産の作成と転送プロセスを簡素化します。 ARC-20 トークンは、トークン化された資産とビットコインのネイティブ通貨の間の架け橋となり、分散型金融 (DeFi) と資産のトークン化管理に新たな可能性をもたらします。

結論

Atomicals プロトコルと ARC-20 トークンは、ビットコイン ブロックチェーンにおける興味深い開発です。 ARC-20 トークンを使用する人が増えれば、ARC-20 トークンは分散型金融、資産のトークン化、デジタル ID 管理のあらゆる側面に影響を与えると予想されます。 ARC-20 トークンの完全な影響はまだわかりませんが、デジタル資産分野におけるイノベーションのための新たな道を提供します。

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