What does inscribed coin mean? How are inscribed coins produced?
- WBOYforward
- 2024-02-12 08:50:021850browse
With the exposure of Bitcoin Inscription again, the skyrocketing price of Inscription Coin ORDI and SATA Coin, investors’ interest in Inscription Coin has also reached a climax. Many novices want to quickly participate in this rich feast, but do not understand Inscription. What does coin mean? Simply put, Inscription Coin is an experimental meme token cast on the chain. It is decentralized. There is no private placement or pre-sale, and there is no unlocking or staking. When Inscription is minted, the quantity can be limited, but after the limit, it cannot Changed again, the editor below will briefly explain the meaning of the following inscribed coins to help everyone better understand the inscribed coins.
What does the inscribed coin mean?
Inscription is a digital imprint created on Bitcoin using new technology. Similar to how Bitcoin is viewed as digital gold, inscriptions can be viewed as gold jewelry as they all share the same essence. Bitcoin inscription refers to using the Ordinals protocol to write the content into satoshi (the smallest unit of Bitcoin) for inscription. These contents can be text, pictures or videos, etc.
Someone gave Inscription a good name, BRC-20, calling it a new way of distributing tokens. Unlike traditional project parties and the risk of running away, BRC-20 tokens adopt a fair mechanism to give everyone a chance to participate. It is an experimental meme token minted on the Bitcoin chain via the ordinals protocol. This means that anyone can participate in minting, and distribution is on a first-come, first-served basis, with no smart contract support involved.
BRC20 tokens are completely decentralized and have no private placement, pre-sale, unlocking and staking mechanisms. Anyone can participate, and the function of BRC20 is also very simple. Apart from quantity, there are no other additional empowerments.
The most profitable part of inscriptions is the casting of the primary market, and inscription transactions are severely congested and prices are high. However, Ethereum’s block time is 12 seconds, while Bitcoin takes 10 minutes. It should be noted that inscription technology is still in its infancy and the related infrastructure is not perfect, so it is difficult for novices to get started.
How to make inscribed coins?
Inscription coin refers to a digital asset minted in the Bitcoin ecosystem, also known as NFT (non-fungible token). In this ecosystem, there is a special term for making inscribed coins, called "inscribe", and the engraved items are called "inscriptions". Some people also use the word "mint," which has a similar meaning to "inscribe." The following is a detailed tutorial on how to put inscriptions on the browser:
1. Use Google Chrome to enter the UniSat website and click -Wallet
2. Click Download to download from Google Store
##5. Click Create new wallet to create a wallet, back up the mnemonic and click Continue
6. Select the address starting with bc1 and click continue
#7. After that, you can see your wallet address (starting with bc1) in the upper right corner of the wallet to trade with OKX Buy BTC, then withdraw the BTC to your address starting with brc1 (select BTC-Bitcoin network), click on the red box and the address will be automatically copied, then paste it into OKX, and then wait for the BTC to arrive.
8. Enter Unisat.io, refresh the web page, and then click connect in the upper right corner to connect to the wallet
##10. Click marketplace
11. When entering the Marketplace for the first time, you will be prompted that you need to have 20 points or hold an OG card to open trading permissions (this condition may be canceled in a few days). At this stage, newcomers do not have OG cards and points. What should they do? Don’t Urgent, go through the transaction process first. Step 3 will introduce how to earn points. BRO20 tokens can be purchased on the exchange. Currently, BRO20 has been listed on the exchange as ordi currency
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