As we all know, the world's first aggregated cross-chain inscription BTIA (Bit Tower) has become extremely popular since its MINT started on July 19, 2024, making a significant impact. The latest news is that the Inscription Alliance has reached a strategic cooperation with CertiK and has passed security audits, with registration exceeding 520,000 and nearly 90,000 holding addresses, a miraculous figure in the entire inscription track.
The institution that created this miracle is the Inscription Alliance, which has garnered attention and favor from many mainstream exchanges in the cryptocurrency industry. To talk about Inscription Alliance, we have to start from 2023. Since the first inscription ordi was released, various protocol-based SFTs have rapidly taken off, and various public chains and protocols have begun to form a new track in the cryptocurrency space. However, order trading has greatly affected its liquidity and turnover rate.
To address this pain point, in June 2023, a young man named Taurean from the United States, who has been navigating the cryptocurrency space for many years, led a group of crypto technology experts to establish the Inscription Alliance Research Laboratory. It is reported that team members include former BCH technical members, Audi inscription members, BNB node members, and many elites from various fields such as DEFI, NFT, SFT, and AIGC, focusing on researching solutions to the pain points of inscription trading.
It is reported that the technical team has completed the underlying system construction after four months of effort and independently developed the DENIM protocol, which can be invoked by many public chains to inscribe inscriptions, pioneering a multi-chain protocol. Based on this protocol, various protocol tokens can be converted into DENIM-20 tokens with one click, enabling decentralized trading in the same environment. DENIM SWAP was born and is currently undergoing continuous optimization and upgrades.
At the World Blockchain Consensus Conference in May this year, Taurean stated that this decentralized exchange no longer relies on a specific public chain for construction but gradually achieves full-chain cross-chain through the Denim bridge, thus allowing quality SFTs from various public chains to interact freely. During the event's roadshow, this statement surprised many technical teams, leading them to pay more attention to the Inscription Alliance and be willing to form alliance partnerships, including Casey, the proposer of the ordinals protocol.
Currently, based on the DENIM protocol, the leading inscription and aggregated cross-chain inscription BTIA has launched MINT. Nearly 30 countries and regions, along with almost 150 communities, have promoted it through DAO governance, reaching nearly 530,000 registrations and close to 90,000 holding addresses, with countless online communities of various sizes.
It is understood that the Inscription Alliance is also an ecological complex, mainly targeting multiple ecosystems such as DEPIN, RWA, AIGC, and GAME FI for comprehensive layout, intending to create a 'cryptocurrency credit system' through various ecosystems for participating users, thereby forming an on-chain database.
According to the official Twitter, it has been learned that as the Mint progress of BTIA reaches 60%, users can obtain SAT mining rewards by staking BTIA and idle bandwidth. SAT, as the exclusive GAS of DENIM SWAP decentralized exchange and the native token of the public chain, is widely used and consumed. Currently, it can be verified through the international auditing organization CertiK that SAT has been submitted for review, and the test network has passed the audit.
According to reports, CertiK's audit has just been completed, and before SAT's formal contract is announced, leading exchanges in global digital currency spot trading, such as OKEx and BYBIT, have extended olive branches to the Inscription Alliance, proactively inviting SAT to have priority for trading on their exchanges.
So, the question arises: why is this yet-to-be-released new public chain SAT attracting so much attention from leading exchanges? Is it the traffic behind it or unique technological innovations?
According to the Inscription Alliance: the technical team is developing a decentralized and incentive-based infrastructure network protocol aimed at achieving efficient data transmission of resources on the blockchain and solving the cost issues of network traffic. As long as users have terminal devices, whether it's a phone or a computer, they can participate in network contributions and obtain end-to-end network resources from the other side of the Earth. It is a permanent, distributed network. Nodes and terminals that contribute resources to the network will also be rewarded accordingly, with plans to launch a new open-source, standard-compliant infinite network protocol based on this incentive protocol, referred to as DDWP (Denim Depiner Wireless Network Protocol).
The application ecosystem of this protocol, Denim Depiner, has been launched on the Google Play Store and is currently in the trial operation phase. The SAT public chain based on the DDWP protocol will adopt the latest POS consensus mechanism and will use the industry-innovative DDTP (Proof of Online Duration) at the protocol level to encourage more nodes to contribute resources, while also screening out the highest quality nodes through this protocol, allowing more efficient and superior nodes to participate in the construction of the web3 industry. The public chain based on DDWP adopts a unique account function concept, which is prioritized over existing public chain design logic, achieving greater security and speed.
In 2024, the cryptocurrency circle is said to be 'full of emotions', from Trump's passionate speeches to the gradual change in various countries' attitudes towards BTC, and the series of Web3 summits, we seem to see a new financial circle gradually coming into its own. Finally, we hope that the Inscription Alliance can quickly break through 1 million registrations and bring better experiences to all users and participants, providing a safer and more efficient decentralized trading environment for the cryptocurrency market.
