Is another opportunity arising? 👀#SRC20#UTXO
First, what is SRC20? What does it do? How does it work? You will find the answers to your questions in this article.
Then you will learn about UTXO which is above SRC20. 😎
Let's definitely read and try to understand. We will hear their names more in the future.🧐
SRC-20 tokens have emerged as a new standard for adding data to the #Bitcoin blockchain. Similar to ERC-20 and#BRC20tokens, SRC-20 tokens are crypto assets created and managed by smart contracts. However, SRC-20 tokens use a different method of placing data on the Bitcoin blockchain.
SRC-20 tokens work by creating fractional NFTs called #STAMPS. Each STAMPS represents a 256-byte block of data. To create an SRC-20 token, a user first purchases a STAMPS. It then connects this STAMPS to a smart contract that represents the data within it.
SRC-20 tokens offer various ways to add data to Bitcoin. For example, SRC-20 tokens can be used to store data regarding ownership, licenses, contracts, and even digital artworks.
SRC-20 tokens offer a more efficient and cost-effective way to add data to the Bitcoin blockchain. Additionally, SRC-20 tokens can be used to store data more securely, preserving the reliability and transparency of Bitcoin.
STAMPS: Permanently places data on the blockchain using the UTXO model. It cannot be deleted or changed. It ensures that data such as legal documents and digital art authentication are preserved forever.
BRC20: Writes data to individual satoshis. Persistence depends on node operators' option to delete the data. This reduces reliability in the long run.
Once created, STAMPS is permanent. Trust is perfect for storing sensitive data without the risk of fraud.
STAMPS does not impact the performance of the network by integrating data into the UTXO set. BRC20, on the other hand, may increase the chain size and slow down transactions.
#BRC20 Fee = ₿2,786
#ORC20 Fee = ₿25.27
#SRC20 Fee = ₿0.14
You can access Dune data here.
dune.com/hashed_officia…
#Stamp = 100m Dolar MCAP
#Kevin = 25m Dolar MCAP
#UTXO = 16m Dolar MCAP
UTXO was minted yesterday and reached 11m MCAP.
Let's talk about why UTXO may be important.
UTXOs, which are at the core of the Bitcoin blockchain, are the fundamental elements that form the transaction model specific to this cryptocurrency system. Data is integrated by the UTXO structure as an organic part of the blockchain, an important component of the Bitcoin ecosystem.
UTXOs are designed to ensure the immutability and security of Bitcoin. Once a UTXO is created, it cannot be modified or deleted. This ensures that data is kept safe and fraud is prevented.
UTXOs also increase the efficiency of Bitcoin. Transactions can be made faster and cheaper using UTXOs.
SRC-20 tokens are recorded on the Bitcoin blockchain using UTXOs. This ensures the immutability and security of the tokens.
The importance of UTXOs for SRC-20 can be summarized as follows:
UTXOs ensure the immutability and security of SRC-20 tokens.
UTXOs provide the efficiency of SRC-20 tokens.
UTXOs enable the use of SRC-20 tokens in a variety of applications.
The gist is BRC-20's data text - SATS = SRC-20's data text - UTXO
