Assets

Supported assets to determine the vote weight:

Ordinals

Bitcoin ordinals are essentially NFTs created using satoshis, the smallest units of Bitcoin. Each satoshi is assigned a unique serial number based on the order in which it was mined. These serial numbers, known as ordinals, serve as a way to track individual satoshis and determine their ownership. These ordinals can have additional content written to them through a process called inscribing.

The ordinals protocol was introduced to enhance the capabilities of the Bitcoin network. It allows for the creation of unique digital assets directly on the base Bitcoin blockchain without relying on secondary layers. By inscribing additional data onto satoshis, such as text or images, Bitcoin ordinals transform these tiny units into scarce and valuable tokens. This innovation bridges the gap between Bitcoin’s security and the demand for non-fungible tokens (NFTs).

BRC-20

BRC20 tokens are positioned as an experimental standard within the Bitcoin network, with the goal of extending its functionality beyond peer-to-peer transactions.

The essence of BRC-20 tokens revolves around ordinals, which imprint a unique serial number onto individual satoshis, thus validating their ownership and preventing duplication. The concept of BRC20 tokens is to emulate Ethereum's ERC-20 standard, yet they function directly within the Bitcoin network, harnessing JSON ordinal inscriptions made possible by the Bitcoin Taproot upgrade.

Runes

At its core, the Runes protocol uses Bitcoin’s UTXO model and the OP_RETURN opcode to simplify the creation of fungible tokens on the Bitcoin blockchain. A Rune, a unique digital asset, is assigned to a UTXO using a protocol message with specific details such as the Rune ID, output index and amount, all stored in an OP_RETURN output.

Rune balances are tracked within UTXOs rather than linked to wallet addresses. Runes are transferred using Bitcoin transactions with OP_RETURN outputs specifying the transfer details.

Coming soon:

• Stacks STX20

• Stacks SIP-10