What is the inscription of the currency circle_What is the inscription of the currency circle?

The currency circle inscription is an innovative technology that permanently stores information on the Bitcoin blockchain. It allows users to add text or data to transactions, creating a tamper-proof and irreversible digital inscription. These inscriptions can contain various information, such as personal messages, documents, codes or works of art, opening up new possibilities for blockchain technology.

What is the inscription in the currency circle?

Correspondence Inscription is a free-form data stored on the blockchain, allowing users to add any type of information, such as text, images, or files. It is similar to NFT (non-fungible tokens), but has its own uniqueness.

Features of Inscriptions:

• Programmability: Inscriptions can contain code so that they can perform specific operations.
• Permanent: Inscriptions once stored on the blockchain will exist permanently and cannot be changed or deleted.
• Transparency: The inscription is open and can be used by anyone.
• Inexpensive: Creating inscriptions is usually cheaper than creating NFTs.

Purpose of inscriptions:

Currency circle inscriptions are widely used, including:

Identity authentication:
• Storing personally identifiable information, such as a scan of passport or diploma.
Art Collection:
• Save and display digital artworks.
Data storage:
• Storage important documents, files or images.
Smart Contract:
• Create custom contracts that can execute specific tasks.
Digital Collection:
• Create unique digital items such as Trading Card or Tickets.

Difference from NFT:

Although both the inscription and the NFT are stored in blocks on-chain, but there are some key differences between them:

Programmability:

Inscriptions can contain code, while NFTs do not.
• Format:
Inscriptions can store any type of data, while NFTs are mainly used to indicate ownership or scarcity.
• Cost:
Creating an inscription is usually cheaper than creating an NFT.
• Overall, the currency circle inscription provides a flexible way to store and manage any type of data on the blockchain. They offer advantages such as programmability, permanence, transparency and low cost, giving them wide application potential in areas such as digital authentication, data storage and smart contracts.

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