Some friends who have just entered the circle know nothing about Atomicals, but want to learn about it quickly, so I write here a guide for#Atomicalsnewbies based on my personal understanding. Hope it helps new friends.
[What is an atomic protocol?]
The Atomics Protocol is an extremely flexible protocol that can be used to mint, transfer and update digital objects, commonly known as NFTs. The protocol follows a few simple rules to organize the creation, transfer, and update of digital objects, thereby establishing a chain of digital ownership. The emergence of this protocol solves the problem of representing fungible token assets on the Bitcoin chain and introduces the concept of colored coins. Even, using the ARC-20 standard, each satoshi can represent a unit of ownership of the token.
Under the framework of the Atomics protocol, any digital object is bound to a specific UTXO address, and only those with the private key of the UTXO address can operate the digital object. In addition, the protocol also supports multiple digital objects being bound to the same UTXO address, as well as more information about UTXO transfer situations and usage.
It is worth noting that the Atomics protocol is designed to be very flexible and can be used in a variety of situations, such as digital art, in-game items, insurance contracts, and more. Additionally, the protocol offers a high level of security and instant availability, both in terms of the security of the UTXO token mechanism and the availability of the Bitcoin network.
Compared with the traditional model, the Atomics protocol provides a more open and scalable digital asset interaction model, which can promote the use of NFT more widely, thereby narrowing the gap between the traditional financial system and the emerging digital economic system. In many industries and occasions, the Atomics protocol will take advantage of its flexibility and high customizability to positively promote the development of the digital economy.
The Atomics protocol is a digital asset management protocol based on the Bitcoin blockchain that can manage static and dynamic digital assets, artifacts, and objects. It uses atomic digital objects to deliver complete history without the need for any third-party service or centralized indexer to verify the transfer of ownership. Additionally, the protocol rules are very simple and provide military-grade security and verification levels. The most fascinating feature is that the Atomics protocol is the first protocol to use the POW process to mine token inscriptions. Everyone can use the CPU to mine tokens, fields, and NFTs. This is definitely a very exciting thing for those who like mining. It seems that the birth of 100x Coin from my hands will give people the feeling that I have also participated in the blockchain revolution.
Specific application scenarios of Atomics include:
Digital Collectibles, Media and Art (Non-Fungible Colored Satoshis)
Digital identity, authentication and token-gated content (Stake NFTs)
Web hosting and file storage (Bitcoin native file system)
Point-to-point exchange and atomic exchange (native support for Swap)
Digital namespace allocation (DAO construction and domain name revolution)
Virtual land and title registration (native transactions and transfers)
Dynamic objects and states in the game (mutable objects GameFi gate)
Social media profiles, posts and communities (verifiable SBT)
Security and decentralization (no need to trust third parties)
【Three major categories】
The official introduction reads: The Atomics Protocol is the simplest, most powerful way to create digital objects on Bitcoin.#ARC20#NFTs #realms
Pay attention to the last three tags. These are the current three cores of the Atomic Protocol ecosystem.
Atomics three major asset types:
1. Token (arc-20): leading $atom (current market price is about 400u/ticket). In addition, there are tokens such as $pepe, $realm, $icals, etc., among which $pepe is the second completely completed token, but the off-site atmosphere is average, and the current price is still near the cost price. $realm is the eponymous name of the domain concept. Tokens, the current OTC price is about 10-12u/piece
2. NFT: including PUNK (floor 10u), XCSS (small number, first original collection), Atommap (shaped like domain name, benchmark bitmap), etc.
3. Realm: An emerging concept proposed by Atomics, aiming to subvert traditional domain names. Since it is impossible to speculate on the numbers, the current off-market floor price for the 2-letter category in the field is about 300 knives, and the 3-letter category is about 10 knives.
Let me introduce the three categories separately.
【Token ARC-20】
Leader: $atom token, the first token in the ecosystem, with a total of 21,000 tokens, each worth 1,000 coins, currently about 400u per token.
Long Er: The $realm token has gained a lot of popularity since it came out. The name is also well chosen and has ecological characteristics. Currently, the token is about 13u. (Pay attention to the distinction. When referring to Realm, it can refer to the realm or the token of the same name)
I used to always say that $pepe is the best, but the price has not improved and is currently 4-5u per piece. There is also icals, which is a zero-return token. It has no crowd and no popularity, so I won’t mention it.
We can see that there are differences in everyone's understanding of "coining", and the method of obtaining ATOM tokens is more like mining, rather than the common coining in other protocols. On the first day I mined ATOM tokens, it took me 5 minutes to mine one ATOM token using the CPU. Before other participants were too late, I had already closed my position because the number mined was not large. The advantage of this is that it is fair enough and the overall chips can be dispersed and even.
Under the Atomic Protocol, all tokens are represented in native Satoshi units and can be split and combined just like Bitcoin. Each token corresponds to one satoshi, and one atom is equivalent to 1000 tokens, which corresponds to 1000 satoshis of Bitcoin (that is, 0.00001000 BTC). Therefore, we always recommend that you do not convert atoms into Bitcoin casually, because if the atoms are burned as ordinary Bitcoin handling fees during the transfer process, the atoms will be permanently destroyed. According to statistics from atomicalsmarket, approximately 1,300 atoms have been destroyed so far, and this process is irreversible. Therefore, everyone must be careful when using atom to avoid unnecessary losses.
【Summarize】
The emergence of Atomics has detonated the ecology of Bit Inscriptions. For the entire Web3, inscriptions are only a small part of it. However, in this small sector, various narratives and innovations are emerging every day. We have no idea where the future will lead or how far it will extend. All we know is that inscriptions inspire our passion, inspire our desire to constantly innovate, and allow us to see more possibilities for decentralized narratives. We are just ecological explorers and pioneers, and this is just the starting point of the game. The Bitcoin ecosystem is full of mystery and is deeply fascinating. It continues to show its charm and never lacks miracles!
