Tonight's two-hour Space was extremely enjoyable. After listening to Arthur's long-awaited speech, a familiar feeling came back.
The guests in Space shared a lot of content, and it’s a bit hard to remember it all. So I’ll first share a batch of key notes from Arthur’s speech.
There may be omissions, please add
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Atomicals were built from the ground up for dynamic data and programmable programs, enabling the programming of digital objects on Bitcoin.
Many protocols are now imitating Atomicals, which is a good thing for the entire ecosystem. Bitcoin is the ultimate scalable smart contract platform. Therefore, it makes sense that we will all converge eventually.
——[Cross-protocol]——
Runes is a simple protocol, and it is certainly elegant, but if it wants to compete with us, it still needs to be expanded, because Atomicals excels in dynamic programming and smart contracts.
Atomicals may be able to use Fractal, and Fractal may also use Atomicals, and the two are interoperable. We need to pay attention to the subsequent development of Fractal.
AVM will be simulated at the overlay protocol layer and can currently be effective for any virtual assets at various meta-protocol layers, including Runes.
——[Partial dyeing]——
The partial coloring upgrade reduces the chances of accidentally burning tokens due to wallet errors, user errors, or developer errors, providing greater security to the protocol. Before that, if transaction outputs were not perfectly aligned, a large number of tokens could be burned.
Partial coloring also helps a lot with the AVM, now we can deposit and withdraw tokens to the contract more easily.
——[Shopping Mall]——
sCrypt is one of the big reasons why the AVM will work. It could become the primary programming language for Bitcoin-compatible blockchains.
We hope that Bitcoin will eventually enable op_cat and we will benefit from it. At that time we will be able to lock/release BTC as a contract condition.
There is an OP Code in the AVM that will allow us to call proof of work from other blockchains, including leveraging assets on other PoW chains as conditional integrations for smart contracts in Atom itself.
In terms of advanced smart contracts, Atomicals provides support for large numbers (which is missing in Bitcoin itself, which is limited to 32 bits), which allows for basically unlimited large numbers, which is very important for future programming operations.
The AVM use case mentioned before (crowdfunding) is just a very basic example, in fact we can get very advanced. Anything you are familiar with on Ethereum/Solana can be created with AVM. We are stacking exponential possibilities together.
The use cases of AVM open up the imagination space. You can even create a new protocol standard called "ARC-300". You can reuse and combine other contracts and standards without reinventing the wheel. This contract protocol will also get a unique name on the chain like the domain name system, which is convenient for further reference.
--[position]--
Bitcoin Script itself is Turing complete, it has everything we need for a powerful smart contract platform. People will realize that Bitcoin is having a "renaissance", meta-protocols are emerging, and the programmability of Bitcoin has always existed and is now being revealed.
We have a complete expression environment and expect to see a variety of use cases such as gaming, metaverse, naming systems, identity verification, trade, collaboration, etc.
The AVM is a challenge to the boundaries of Bitcoin, and we are the first to discuss, document, demonstrate, and publish this overlay protocol layer programming method.
We will embrace everything that Satoshi Nakamoto created and bring all developers' attention back to Bitcoin, away from Ethereum, away from Solidity, and become part of the original story.
————
The above is my personal excerpt from Arthur’s speech. Some details may not be particularly accurate after my retelling. Welcome to exchange and discuss.
Of course, there were also many wonderful highlights in other people’s speeches, such as:
Shell Finance proposed to use ARC20 as collateral and launched the stablecoin BitUSD;
Wizz introduced the process from Unisat to OKX and then to Binance, and emphasized the importance of AVM landing;
Thoth brought up the lack of marketing and influential Western figures for Atomicals;
Shako emphasized that Realm is a unique innovation that has never been seen in the Bitcoin ecosystem, and introduced a product that BULLRUN is currently creating that utilizes a sub-field;
……
It is impossible to describe all the highlights of Space in just one article.
For more details, you can go to GeniiData’s official Twitter account and listen to the original recording.
————
Appendix: Reference Space Outline (summarized using AI)
00:42 Introduction and Overview of the Atomicals Protocol
04:12 The importance of community in protocol development
05:31 Eric discusses his role and the growth of Atomicals
06:18 Shako shares his experience of being part of Atomicals
07:46 Arthur talks about founding Atomicals and its milestones
09:06 Brutoshi introduces his experience and contributions
11:02 Discussion of the dynamics and programmability of Atomicals
12:12 Importance of Runes and their difference from Atomicals
14:43 Arthur elaborated on the technical advantages of Atomicals
24:26 Potential impact of smart contracts and OP_CAT
32:28 Explored the potential of fractal compatibility and multi-proof-of-work chains
34:12 Community questions about smart contract use cases
42:20 Developer insights on Bitcoin Virtual Machine Scripts
47:02 Enabling new smart contract functionality
53:02 Advantages and implementation of some dyeing technologies
56:32 Real-world applications and advanced smart contract functions
01:05:00 Shell Finance’s participation and stablecoin plan
01:14:02 Shell Finance stablecoin model and protocol selection
01:21:37 AVM’s future potential and challenges for mainstream adoption
01:26:21 Solving adoption and community growth issues
01:32:11 Future cooperation strategy and focus on AVM
