Thread by Poopman 💩, 🌿- DeFi Rookie
- Tweet
- May 14, 2023
- #Non-FungibleToken
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You faded BRC 20
You faded ordinals NFT
But you're still early to ORC20 💎
With ORC-20, users are no longer limited to mint a fixed naming space and prevent the risk of doubled spending with UTXO model ✅
A thread on everything you need to know about orc20 & minting guide 🧵
You faded ordinals NFT
But you're still early to ORC20 💎
With ORC-20, users are no longer limited to mint a fixed naming space and prevent the risk of doubled spending with UTXO model ✅
A thread on everything you need to know about orc20 & minting guide 🧵
1/ In this thread, I will cover:
1️⃣ Why ORC20?
2️⃣ What is ORC20?
3️⃣ What is the difference between ORC20 and BRC20?
4️⃣ How to mint ORC20? (Jump to P.8)
5️⃣ How to buy and sell ORC20👜?
Without further ado, let's dive into it 🏄
1️⃣ Why ORC20?
2️⃣ What is ORC20?
3️⃣ What is the difference between ORC20 and BRC20?
4️⃣ How to mint ORC20? (Jump to P.8)
5️⃣ How to buy and sell ORC20👜?
Without further ado, let's dive into it 🏄
2/ 1️⃣ Why ORC20?
Riding on the hype of BRC20, the number of ORC20 inscriptions reached an ATH yesterday, with 72k inscribed in just asingle day.
This surge also reflects the growing interest in ORC20 and its potential to become a trending topic in the future.
Riding on the hype of BRC20, the number of ORC20 inscriptions reached an ATH yesterday, with 72k inscribed in just asingle day.
This surge also reflects the growing interest in ORC20 and its potential to become a trending topic in the future.
3/ 2️⃣ What is ORC20?
ORC20 is basically an improved version of BRC20.
As BRC20 faces 3 major limitations, including:
❹ Naming space is limited to 4 letters
❌ Supply and mint limits are immutable after deployment.
⛏ Double spending
…..
ORC20 is basically an improved version of BRC20.
As BRC20 faces 3 major limitations, including:
❹ Naming space is limited to 4 letters
❌ Supply and mint limits are immutable after deployment.
⛏ Double spending
…..
4/ 3️⃣ What is the difference between ORC20 and BRC20?
With ORC20, users can:
🌻 Mint any token with a flexible naming space
⬆️ Numbers of supply and mint are upgradable
🔐 Utilize the UTXO model to prevent double-spending
◀️ Cancel transactions as needed
With ORC20, users can:
🌻 Mint any token with a flexible naming space
⬆️ Numbers of supply and mint are upgradable
🔐 Utilize the UTXO model to prevent double-spending
◀️ Cancel transactions as needed
5/ To truly understand the importance of UTXO, you must first grasp the concept of double-spending.
Double spending is a type of payment attack, in which attackers mine a longer chain of blocks to replace the original transaction.
Leading to a loss where senders should receive.
Double spending is a type of payment attack, in which attackers mine a longer chain of blocks to replace the original transaction.
Leading to a loss where senders should receive.
6/ To prevent double spending, each transaction creates UTXOs which can only be spent once.
When a new Txs is broadcast, nodes validate it by checking the UTXOs to ensure they have not been spent before, therefore removing the risk of double spending.
Kudo to @Xangle_official:
When a new Txs is broadcast, nodes validate it by checking the UTXOs to ensure they have not been spent before, therefore removing the risk of double spending.
Kudo to @Xangle_official:
7/ In a nutshell 🥜,
ORC20 is a more flexible and secure design than BRC20, with the UTXO model to prevent double-spending.
Hungry for more info, please refer to the docs in @OrcDAO or the table below 👇
ORC20 is a more flexible and secure design than BRC20, with the UTXO model to prevent double-spending.
Hungry for more info, please refer to the docs in @OrcDAO or the table below 👇
8/ 4️⃣ How to mint ORC20?
To mint orc20, first:
1, Get a Unisat wallet from the chrome store
2, Prepare at least 0.001BTC in the wallet (You can buy BTC from CEX)
3, Head to @unisat_wallet Inscribe page, click text
4, Click bulk
To mint orc20, first:
1, Get a Unisat wallet from the chrome store
2, Prepare at least 0.001BTC in the wallet (You can buy BTC from CEX)
3, Head to @unisat_wallet Inscribe page, click text
4, Click bulk
9/ Now pick a token you want to mint.
5, Go to loveords.com/orc20 by @LoveOrdinals
6, Copy 👇
{"p":"orc-20", "tick":"pepe", "id":"3387929", "op":"mint", "amt":"10000"}
7, Replace the “pepe” and “3387929” with the token you want.
In the example below, I use “eth.”
5, Go to loveords.com/orc20 by @LoveOrdinals
6, Copy 👇
{"p":"orc-20", "tick":"pepe", "id":"3387929", "op":"mint", "amt":"10000"}
7, Replace the “pepe” and “3387929” with the token you want.
In the example below, I use “eth.”
10/ Now, let's finish the payment.
8, Copy and paste the same code 5 times.
9, Verify your code and make sure you are connected to the right BTC address
10, Select the gas you would like to offer (Usually I go for normal)
11, Submit and pay with Unisat wallet
8, Copy and paste the same code 5 times.
9, Verify your code and make sure you are connected to the right BTC address
10, Select the gas you would like to offer (Usually I go for normal)
11, Submit and pay with Unisat wallet
11/ How to verify if your ORC20 transaction proceeded?
1, Check your wallet
See nothing? Proceed to step 2:
2, Go to ordiscan.com/
3, Click inscription #
4, If you see the context, then you are good.
Kudo to @seven_head for the clear guideline.
1, Check your wallet
See nothing? Proceed to step 2:
2, Go to ordiscan.com/
3, Click inscription #
4, If you see the context, then you are good.
Kudo to @seven_head for the clear guideline.
12/ 5️⃣ How to buy and sell ORC20👜?
Currently, there is no official marketplace for ORC20 🚫.
I've noticed some OTC marketplaces in Telegram and Discord groups.
For safety reasons, I suggest everyone to be patient and only trade on a trustworthy marketplace ✅.
Currently, there is no official marketplace for ORC20 🚫.
I've noticed some OTC marketplaces in Telegram and Discord groups.
For safety reasons, I suggest everyone to be patient and only trade on a trustworthy marketplace ✅.
13/ Poop message 💩:
To all the fans who have been waiting for my deep dive thread, I apologize for not writing one in the past few days.
I've been reading a lot about ZK, governance structure, and DID.
I bet every one of you will be shocked by my finding.
To all the fans who have been waiting for my deep dive thread, I apologize for not writing one in the past few days.
I've been reading a lot about ZK, governance structure, and DID.
I bet every one of you will be shocked by my finding.
14/ Tagging Giga BRC20 & ORC20 enjoooyers
@wacy_time1 @themafiaboss420 @the_smart_ape @pheyiyex
@0xnocta @stacy_muur @DimitriDotEth @mcwhalescalls
@Deebs_DeFi @ZSY_Junglist @Moonshot211
@mrpunkdoteth @CryptoNikyous @ChadCaff
@0xAndrewMoh @OrdinalLabs @tmel0211 @seven_head
@wacy_time1 @themafiaboss420 @the_smart_ape @pheyiyex
@0xnocta @stacy_muur @DimitriDotEth @mcwhalescalls
@Deebs_DeFi @ZSY_Junglist @Moonshot211
@mrpunkdoteth @CryptoNikyous @ChadCaff
@0xAndrewMoh @OrdinalLabs @tmel0211 @seven_head
