About electron

electron is an ARC-20 token that is issued on the Bitcoin chain using the Atomicals Protocol. This protocol offers a simple yet versatile framework for minting, transferring, and updating digital objects (often called non-fungible tokens or NFTs) within unspent transaction output (UTXO) blockchains like Bitcoin. An Atomical, or “atom”, provides a method for managing the creation, transfer and updating of digital objects, effectively establishing a chain of digital ownership governed by some basic rules.

The Atomic specification is the simplest possible way to organize digital ownership on blockchains like Bitcoin. Its implementation is simple and guarantees maximum flexibility to manage both static and dynamic assets, artifacts and digital objects. The rules are designed to be so clear that using Atomicals as mining fees by mistake is virtually impossible. Additionally, it simplifies verification of ownership transfers to the intended recipient, eliminating the need for third-party verifications or running an indexer. Atomicals are self-evident stories of digital objects. Atomicals essentially provide self-evident histories of digital objects. Despite this, most developers and services will likely still opt for the convenience of running their own indexer to access additional benefits.

Atomicals Protocol addresses the long-standing challenge of representing arbitrary fungible assets on the Bitcoin blockchain. The ARC-20 fungible token standard finally brings colored coins to Bitcoin and uses each satoshi to represent units of ownership of the implemented tokens. As a result, each token unit is perpetually backed by 1 satoshi, which serves as “digital gold content” that underpins the value of the token. This also implies that the value of each token can never fall below 1 satoshi, by definition.

ARC-20 uses the native satoshi unit to represent each token, allowing them to be split and combined just like traditional Bitcoin. #Bitcoin $BTC #ElectronARC20