The explosion of Bitcoin Inscription has brought the Inscription track back to life, especially after the launch of the Ordinals protocol, which detonated the entire Bitcoin network. The transaction volume once surpassed Ethereum's NFT, and also attracted more people Pay attention to developments in the field of inscriptions. I don’t understand the two concepts of NFT and inscription. I don’t know what the difference between NFT and inscription is? Inscriptions mainly refer to NFTs minted by the Bitcoin network, just like words engraved on a stone slab, and on the Bitcoin network, they are engraved into Satoshi. NFT is a non-fungible token and a form of asset representation. The editor below will explain these two concepts in detail for you.
Inscription is a special NFT representation, similar to the form of transaction information. Once the inscription is written and reaches the consensus of the blockchain, it will exist permanently in the blockchain. All data of NFT is stored on the chain, making it more decentralized and more in line with the original concept.
NFT stands for Non-Fungible Token, and its Chinese name is "Non-Fungible Token". It is a unique digital asset that is non-replicable and unique, so it is also called a digital certificate. NFT mainly exists on the blockchain and is widely used in digital collectibles, intellectual property derivatives, proof of rights and other fields. In addition, NFT is also used to represent Metaverse assets and financial services.
The characteristics of NFT make it uniquely valuable in games, artworks, domain names and other fields. For example, NFTs in crypto games can represent specific items or characters.
Inscriptions are the words carved by the ancients on bronze ritual vessels, recording the reason for making the vessel, the commemorative object, and the person being worshipped. Later, this concept was extended to other artifacts to record important information such as the time, place, name of the craftsman, and name of the workshop.
The Bitcoin Inscription Ordinals protocol is a system for numbering Satoshi, the smallest unit of BTC. The total amount of BTC is 21 million, which is equivalent to 2100 trillion satoshis. In addition, the Ordinal protocol can also implant data into Satoshi, a process called engraving.
Bitcoin inscriptions are digital imprints created on Bitcoin through new technology. It is similar to gold jewelry and has the same essence as Bitcoin. Inscription is the process of embedding arbitrary data into the Bitcoin blockchain as part of the witness data for a transaction.
“Inscription” appeared on the Bitcoin network. It is an application based on the Bitcoin blockchain, similar to non-fungible tokens (NFT), but with some differences. Unlike NFTs on other blockchains such as Ethereum, the inscription is engraved directly on the Bitcoin blockchain.
The inscription can be data, image, audio, video, or even software. However, in terms of the average size of Bitcoin inscriptions, the audio and video types are the largest. Their footprint is still the lowest as their frequency is significantly reduced compared to types such as images or text.
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