Natcats surged tenfold in a week, and the small DMT picture opens a new narrative for Bitcoin NFT?

php editor Apple has recently noticed that Natcats has increased tenfold in a week. Whether the DMT small picture will open a new narrative for Bitcoin NFT has attracted much attention. As an emerging representative of digital assets, Natcats’ value potential is eye-catching. Whether the introduction of DMT small pictures can bring a new development direction to the Bitcoin NFT market has triggered widespread speculation among industry insiders. In this volatile digital currency field, investors are also paying close attention to this development.

In the past week, in a corner that is relatively unnoticed, there is a small picture project in the Bitcoin ecosystem that has skyrocketed 10 times without being officially listed on any Bitcoin NFT trading market. Currently, OTC The floor price has reached 0.08 Bitcoin, this is Natcats.

Natcats

A few days ago, Natcats 829999 was traded at a price of 1.3 Bitcoin, becoming the Natcat with the highest single transaction price so far.

Just yesterday, two small picture projects of DMT concept, NATTRIBUTES and Natdogs, quickly became the projects with the highest trading volume that day after they were put on the shelves of Magic Eden. NATTRIBUTES has a single-day turnover of more than 11 Bitcoins, while Natdogs has a single-day turnover of more than 5 Bitcoins.

What is DMT concept picture?

DMT Theory

The well-known Bitmap is the application of DMT theory. This theory is quite obscure in the documentation. In short, there are many types of data in the Bitcoin blockchain, such as block hash value, block size, block height, block target difficulty, etc. Creating specific digital assets based on these data is what the DMT theory hopes to achieve.

How will everyone use the data from the Bitcoin blockchain to create specific digital assets? This process of mining the value of Bitcoin blockchain data is like discovering chemical elements in nature. Multiple "elements" can be registered under the same data type, but the elements cannot have the same name. This means that the same type of data can be used in multiple ways.

The first registered and named "element" is DMT. This "element" uses Bitcoin's block target difficulty data, and Natcats, NATTRIBUTES and Natdogs all use this "element". That is, using Bitcoin’s block target difficulty data to create small pictures. So how exactly do the Natcats use this "element"?

The creation process of Natcats

First of all, the small DMT pictures you see are the result of code rendering. Now if you go to Magic Eden to view the collection of NATTRIBUTES and Natdogs, you will find something like this:

This is because Magic Eden does not yet support DMT small picture rendering on the front end. Somewhat similar to "recursive inscriptions", most of the small Bitcoin pictures you see now are actually the result of layer-by-layer pointer call content and rendering according to the code.

The above picture from left to right is the rendering code for rendering the Natcats image (burned to the chain in the form of JavaScript), the Natcats deployment inscription and the Natcats casting inscription. The "dep" field in the casting inscription points to the deployment inscription, and the "id" field in the deployment inscription points to the on-chain inscription that contains the image rendering code.

You can understand it this way: According to the data on the chain, Natcats generates images based on specific scripts, but additional work needs to be done to show the results of the code running. After all, Bitcoin itself cannot to do this. We usually call this process "indexing". For example, to display the balance of BRC-20 in front of your eyes, you need the work of an "indexer" to display the correct results to your browsing interface.

Now let’s explain how Natcats uses Bitcoin’s block target difficulty data to create small pictures. Similar to Bitmap, one Natcats corresponds to one block, but Natcats imposes restrictions on the block data requirements - only Bitcoin's block target difficulty data (hexadecimal field) contains "3b", and this area Natcats cast from blocks will be considered valid.

Bitcoin’s block target difficulty data is adjusted every 2016 blocks (about 2 weeks), and "3b" appears. Currently, there are only 4 times in the history of Bitcoin, each time 2016 blocks. So the current total supply of Natcats is 2016*4 = 8064. As for whether such a block will appear in the future, it is not yet known. There may be a new "3b" block in the future, and then there will be new Natcats available for casting.

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