BRC-100 is an extensible decentralized computing protocol based on Ordinals Theory

BRC-100: An Extensible Decentralized Computing Protocol based on Ordinals Theory

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Date: Sept. 2 2023

Creator: Mikael.btc

Email: mikael@brc100.org​

Twitter: https://twitter.com/MikaelBTC​

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This document is intended to manage BRC-100 protocol and its extension and improvement protocols. The following table shows the current protocols status.

Protocol

Creator

Description

Status

Released Time

BRC-103

Mikael.btc

A Relay Protocol among Bitcoin, BRC-20 and BRC-100

Ongoing

BRC-102

Mikael.btc

An Automated Liquidity Protocol

Ongoing

​BRC-101​

Mikael.btc

A Decentralized On-Chain Governance Protocol for BRC-100 Protocol Stack

Released

Sep. 16 2023

​BRC-100​

Mikael.btc

An Extensible Decentralized Computing Protocol based on Ordinals Theory

Released

Sep. 2 2023

As we all know, Ordinals Theory, BRC-20 and other protocols based on Bitcoin have brought a lot of imagination to the development of Bitcoin ecosystem through "on-chain declaration, off-chain resolve" mechanism. And a large number of Bitcoin NFTs and tokens have been issued, but the development of decentralized applications such as DeFi is still lagging behind. This document attempts to explore a protocol that supports decentralized computing: BRC-100, and how the protocol can be extended and improved, to create a possibility for decentralized applications based on the Bitcoin network.

https://docs.ordinals.com/

https://domo-2.gitbook.io/brc-20-experiment/

https://domo-2.gitbook.io/brc-20-experiment/

The BRC-100 protocol is an extensible decentralized computing protocol based on Ordinals Theory. BRC-100 proposes a modularity method of protocols and applications: inheritance and nesting, which provides a theoretical basis for the extension of BRC-100 protocol and applications. BRC-100 protocol essentially describes a token with computing capabilities and states. The behavior of the token is an extension of BRC-20 protocol. The computing capabilities and state transition can be extended by BRC-100 extension protocol. All BRC-100 extension protocols are compatible with each other, that is, tokens that implement BRC-100 and its extension protocols can be used in all applications. At the same time, BRC-100 protocol and its extension protocols can be updated and upgraded through improvement protocols. BRC-100 protocol and all its extension and improvement protocols are called BRC-100 protocol stack.

The BRC-100 protocol is based on two models: UTXO model and state machine model, which greatly extends the computing capabilities of Bitcoin. The operation of token satisfies the UTXO model, and the computation conforms to the state machine model. And BRC-100 provides new operations: burn2/burn3 and mint2/mint3, so that token can be safely converted between UTXO model and state machine model.

BRC-100 introduces many concepts, please read the explanation below firstly.

Term

Description

BRC-100 Protocol

An extensible decentralized computing protocol based on Ordinals Theory

BRC-100 Protocol Stack

The collective name for BRC-100 and its extension and improvement protocols

Protocol

A standard that describes the attributes, operations, and computing operations of the application

Inheritance

The extension protocol will inherit the properties, operations and computing operations of the parent protocol

BRC-100 Extension Protocols

The protocols that directly or indirectly inherit from BRC-100 protocol

BRC-100 Improvement Protocols

The protocols used to improve BRC-100 and its extension protocols

Governance of BRC-100 Protocol

Proposal, review, addition, modification, and deletion of BRC-100 and its extension and improvement protocols

Computing Operation

The computing capability of the protocol, expressed by cop attribute

Application

An instance created after the protocol is deployed to Bitcoin blockchain through inscriptions

Token

Application is essentially a token with computing capabilities and states

Nesting/Child Application

Multiple applications can be created under one application, to complete multiple independent computing logics

BRC-101 Protocol

A governance protocol that defines how to govern an application that implements BRC-100 or its extension protocol

Governance of Application

The process of updating application attributes, creating child applications, and stopping application

Oracle

Indexers can serve as the Oracle Verifier to verify the off-protocol proof data submitted by the user

Relay Protocol

Responsible for bridging assets among Bitcoin, meta-protocols, blockchains and the BRC-100 protocol

The BRC-100 protocol stack is open, and developers are welcome to participate in building protocols, developing applications, and jointly building the Bitcoin ecosystem. You can join the BRC-100 Developers Community: https://t.me/BRC100Developers.

An introduction into the brc20 universe. Learn the history and the basics before you jump right in.

HOW IT STARTED

It started with a now infamous tweet. BRC-20 launched as a fun experiment standard for tokens on bitcoin. The goal was to encourage the bitcoin community to play around with and optimize the standard until a general consenses on best practices could be agreed upon, or to decide if the standard was a waste of time.

BRC-20 FUNCTIONALITY

These functions together allow for a simple yet effective way for users to deploy, buy, and sell tokens.

• Create a brc-20 'token' with the deploy function

• Mint an amount of brc-20's with the mint function

• Transfer an amount of brc-20's with the transfer function

WHERE IT'S GOING

No body really knows where this could take us. The experiment has grown and continues to grow at a rapid speed. The bitcoin memepool is so full and transactions are getting backlogged by the hundreds if not thousands. Developers are building features for the users, and although primitive at the moment becoming far easier to understand and much more intuitive. As developers continue to build and features become easier to use. Who knows what might happen next.

btc网络是电子现金交易系统

那么nft呢？

nft的本质是非现金电子资产