At present, the popularity of the Inscription track continues to be hot, its development shows significant vitality, and its importance to the ecological construction of the Bitcoin network is gradually increasing. Innovative iterations of key technologies such as SegWit, 3ech32 encoding, Taproot upgrades and Schnorr signatures have greatly improved the transaction efficiency and scalability of the Bitcoin network and added programmability. With the application of these technologies, the inscription market began to prosper rapidly, continuing to attract the attention of users and market capital, spawning a variety of projects, and promoting the development of the protocol, such as Ordinals, Atomics, etc.

At the same time, major public chains such as Polygon, Near, Avax, etc. have successively launched their own ecological inscription platforms and head projects, allowing the long-suppressed crypto community to regain new opportunities.

In order to deeply lay out the inscription ecosystem and lead the encryption trend, as an on-chain ecosystem developer of IOST, the IOSI team decided to leverage the advantages of IOST’s established public chain, such as security, high speed, low gas, and a prosperous international community ecosystem, and recently launched the inscription platform IOST Inscriptios and the first inscription project - IOSI - on the #IOST chain.

Narratives about Brc20 and inscriptions

With ORDI listed on Binance, we have witnessed the popularity and prosperity of a new narrative, as well as a technological innovation and market boom led by the Bitcoin ecosystem. From the preheating and foreshadowing of the inscription track at the beginning of the year to the frenzy of the entire crypto market today, the rapid popularity of the Bitcoin ecosystem and the huge development potential of the inscription track have attracted widespread attention. But what exactly is inscription? What is Brc20? How are the major public chains laying out?

When talking about inscriptions and Brc20, satoshi (sat) is an inevitable topic. It is the smallest unit of measurement of Bitcoin. 1 Bitcoin can be divided into 100 million satoshis, and each satoshi is sorted according to the ordinal theory and has a corresponding ordinal number, which is a unique number.

In December 2022, Casey launched the Ordinals protocol. The birth of the Ordinals protocol provides Bitcoin with numbering and inscription functions, broadens the product range of the Bitcoin ecosystem, and opens a new chapter in the development of the Bitcoin ecosystem.

Bitcoin inscription refers to the use of the Ordinals protocol to write content to satoshi for inscription. The information written can be text, pictures, audio or video, etc. These metadata are embedded in the witness data (witness data, witness field) of the transaction, which is why we call it "inscription" - this data is "engraved" on a specific part of the Bitcoin transaction (attached to a specific Satoshi) like an inscription.

On March 8 of this year, anonymous developer Domo launched the BRC20 protocol based on the Ordinals protocol. The BRC20 experiment was first carried out on the Unisat wallet, which directly set off a speculative boom. As a result, the hype of Bitcoin ecosystem Meme tokens entered the high-speed channel - various copy tokens such as PEPE and DOGE rose wildly, and investors rushed to FOMO. BRC-20 can be simply understood as an issuance protocol based on Ordinals (that is, based on Bitcoin), so BRC-20 Token is essentially Ordinals Inscriptions.

BRC-20 and Bitcoin inscriptions have triggered a global forging boom. Major mainstream public chains have successively broken through the circle and innovated, launching various inscription protocols and ecological inscription projects. In June this year, Tom Lehman, co-founder and former CEO of Genius.com, launched Ethereum's first inscription protocol - Ethscriptions; Polygon's on-chain inscription market POLS Market has also been officially launched and opened for trading; Solana's inscriptions (sols, lamp) have received strong support from popular trading platforms such as OKX Web3 Wallet NFT Market and Magic Eden; Avalanche inscriptions (AVAL) have now been fully engraved, with more than 23,000 holding addresses...


What is the significance of inscriptions to the crypto ecosystem?

The advent of the Ordinals protocol has brought about a huge wealth-creating effect, and the crypto ecosystem has once again become one of the focuses of attention in various industries around the world. With the continuous emergence of various emerging protocols, more and more developers have begun to actively link up with major public chains for integrated planning and layout, and the crypto ecosystem is expected to become active and prosperous again. It can be said that the extreme popularity of inscriptions may profoundly change the future development direction of the crypto ecosystem.

First, the previous concerns about a large-scale loss of miners due to the reduction in Bitcoin rewards have been resolved, and Bitcoin's network security budget has been greatly improved.

Secondly, as far as inscriptions are concerned, although it is a negative-sum game, it provides the spiritual value that accompanies activity participation and commercial speculation, and actually meets the needs of users.

Once again, Inscription, as another innovative highlight in the crypto world, has experienced decline and rise, and is continuing to promote the development of the crypto ecosystem. With the continuous improvement of the Unisat wallet and the participation of large institutions such as Binance and OKX, the expansion and construction of the entire crypto ecosystem is accelerating, and many practical applications including DEX/DEX aggregators, cross-chain aggregators, stablecoins, games, etc. will be further implemented.

Finally, the rise of inscriptions has allowed us to see more opportunities for the future development and prosperity of the crypto ecosystem. The participation of major public chains such as IOST will also bring more vitality and market possibilities to the inscription ecosystem.

IOSI — the first inscription project on the IOST chain

IOST——Web3.0 blockchain operating system, founded in 2017 and headquartered in Singapore, is an enterprise-level blockchain application platform developed for online service providers, supported by global first-tier dollar investment institutions such as Sequoia, Matrix Partners, and ZhenFund.

As one of the international star public chains, IOST has always been committed to providing an effective platform for third-party developers, creators and enterprises to realize value through the development community, so as to continuously promote the healthy and sustainable prosperity of the crypto ecosystem. IOST is gradually building and launching tools to improve the development efficiency of developers. Compared with other public chains, IOST has many highlights and features in scalability, privacy protection, developer friendliness, etc.

To this end, the IOSI team (all team members are ETH ecosystem developers and early participants in the BTC ecosystem, with relatively mature development experience) will leverage the advantages of IOST's established public chain security, high speed, low gas, and prosperous international community ecology to launch the inscription platform IOST Inscriptios and the first inscription project - IOSI on the IOST chain. At present, we will take the lead in launching the inscription casting platform, on-chain indexing function, and the corresponding trading market.


In general, the participation threshold and cost of ecosystems such as Ordinals are relatively high. Most users do not have a perfect understanding of the Bitcoin network, and the number of users who actually participate in the construction of the Bitcoin inscription ecosystem is not the majority. The advent of IOST Inscriptios will largely solve such problems and provide "minting experience" and "income opportunities" for the majority of users who maintain a keen interest in the inscription track and IOST ecosystem construction.

In the first phase, we will open three core functions on IOST Inscriptios: "Inscription Deployment", "Inscription Casting" and "Inscription Transfer", and will open the official trading market later.

· IOSI

Compared with the high threshold and high cost of BRC and ERC, IOSI with its simple operation and low GAS is more user-friendly.

First, its minting method is simple, and users can mint their own inscriptions with one click; second, the user's participation cost is extremely low, and each inscription only requires 1 IOST (when the user mints, he needs to authorize 1 IOST to be deposited into the black hole address); finally, the overall minting process of the inscription will adopt a first-come, first-served FOMO mode, and it is estimated that the time required to complete all the inscriptions is 12-15 hours.

Inscription name:IOSI

Total number of inscriptions: 880,000

Minting method: One-click Mint (When minting, you need to authorize 1 IOST to be deposited into the black hole address)

Minting cost: one = 1 IOST


Note: The "IOSI Inscription Project Tutorial" will be officially released soon, so stay tuned!


IOSI empowers the diversified and innovative development of the IOST ecosystem

The official launch of IOSI aims to further improve the inscription infrastructure of the IOST public chain, strive to create inscription popularity on the IOST public chain ecosystem, introduce new traffic to IOST, and is also a multi-modal test of the performance of the IOST mainnet.

IOSI will continue to empower the diversified innovation and development of the IOST ecosystem from the following dimensions:

Enriching IOST token models - Currently, the IOST public chain has two major token models, Irc20 and Irc21. The official launch of IOSI will add the Irc100 token model to the IOST public chain.

Improve the integrity of the IOST ecosystem - Focusing on industry hotspots and organically combining with multiple tracks such as DeFi games and social Dapps, it is a further integration of IOST chain ecosystem applications, thereby improving the integrity of the ecosystem.

Improve the decentralization of IOST — Fair Launch, ensure fairness for users on the chain and improve the decentralization of the IOST ecosystem.

Optimize the IOST deflation model - Inscriptions are combined with popular culture, taking advantage of the low GAS of the IOST chain to attract new Web3 users on a large scale. The deflation model of IOST is further supplemented by absorbing users’ black hole addresses during the casting and circulation of inscriptions.

At present, the inscription infrastructure of the IOST public chain is in the process of further expansion and improvement, and will continue to iterate and develop many functions, such as inscription splitting, inscription mining, and the opening of the inscription IDO platform.

Looking ahead, the inscription track is expected to continue to witness innovations in encryption technology, help market expansion, and continue to promote the realization of complex functions in more application scenarios, triggering a new round of enthusiasm. It can be foreseen that more and more innovative protocols and projects will appear on the IOST chain, enriching the inscription ecology of the IOST public chain in multiple dimensions.

IOSI sincerely invites IOST global community users to witness the growth of the first inscription project on the IOST chain. Are your wallet (iWallet Pro) and IOST ready?

Related Links:

Ecosystem Co-construction｜IOST officially launches [Mainnet Account Grant Program]

IOST plugin wallet iWallet has been upgraded, iWallet Pro is officially launched

How to create an IOST mainnet account

Note: This article is translated from IOSI official, original link: https://twitter.com/InscriptionIOSI/status/1734847198171648008