CBRC-20 with a detailed explanation of FOMO for foreigners: a list of popular projects and common tools

The CBRC-20 protocol is the new star of the “BRC-20” system in the past half a month, this phenomenon is actually more special and interesting, because in the past half a month, a lot of attention has actually shifted to the inscription hype of various public chains outside the Bitcoin ecosystem, such as Solana, AVAX, INJ, etc. In the Bitcoin ecosystem, even if the Market Cap of BRC-20-related assets is still large enough to have a relatively dominant position, other protocols such as Atomicals and NostrAssets actually distract a considerable part of the attention and funds.

In addition to the BRC-20 itself, there are also Tap Protocol and CBRC-20. Interestingly, both protocols have a strong influence in the English-speaking world, and players in the Chinese-speaking world will emphasize the kind that “many foreigners like”. However, there is a lot of difference in innovation between Tap Protocol and CBRC-20, and the ins and outs of the project are also mild and twists and turns.

Tap and CBRC-20, one is a “patch” and the other is a “magic change”

Before we talk about CBRC-20, let’s talk a little bit about the Tap Protocol. The nature of Tap is generally a BRC-20 enhancement patch, as if a game already has a fun version, just patch it to make the experience stronger. In general, Tap’s features such as releasing the ticker 4 character limit, batch Airdrop, Swap inscriptions, etc. are actually more index-level updates - how to rationalize some of the pain points/unimplemented functions of BRC-20 in JSON, and then let the indexer support understand these behaviors OK.

Tap belongs to Beny’s TRAC ecosystem, TRAC has had many loyal foreigner fans along the way, and there have been no accidents in general, foreigners have always liked “Marshal B” to make all kinds of remarks attacking centralized indexes.

The magic change of CBRC-20 is actually based on the fact that the BRC-20 protocol uses the Ordinals v 0.9.0 version as the unified standard version of the index in order to maintain the stability of the index - the new features after the Ordinals protocol v 0.9.0 version, the BRC-20 protocol can’t be played, so let’s continue to use the basic functional logic and combine the new features to make a new version. If both Tap and CBRC-20 are regarded as the “private servers” of BRC-20, then the former is a patched “classic server”, and the latter is a “magic server” with a lot of new content.

The Ordinals protocol after version v 0.10.0 introduces fields for defining “metaprotocol” and “metadata” for inscriptions, and the most direct effect of these two new fields is to directly and greatly drop the lengthy and repetitive text of the BRC-20 protocol during deployment/minting/transfer, thereby reducing costs and simplifying indexing.

The image above is an example of a deployment inscription for the BRC-20. For CBRC-20, which introduced “metadata”, it was actually only necessary to leave the three lines “tick”, “max” and “lim” inside the curly brace pairs, and then compress the reduced amount of information into a smaller .cbor file.

The “metaprotocol” is to let the index know which protocol’s specifications to understand the instructions according to. For minting and transferring, the instructions are simplified to look like this:

Compare the content size with the BRC-20:

BRC-20, the size of the transfer operation is 57 bytes

CBRC-20, the size of the transfer operation is 4 bytes

Another interesting point brought by “metaprotocol” and “metadata” is that CBRC-20 Token has no type limit, which makes the feeling of “transmogrification” of weapons and equipment in the game - for example, you can mint 1000 CBRC-20 Tokens, and then execute the minting instruction with a CryptoPunks diagram, so that it can be either 1000 CBRC-20 Tokens or 1 Punk. In fact, Tap has made a similar attempt, adding an additional Logo field to the Token, which can reference the Inion ID and let the index handle it. But Tap relies on its own indexes, and CBRC relies on the new Ordinals protocol features.

–file can be attached to the specified file

CBRC-20 is the “appetizer” made by the original OSHI team after splitting, in addition to CBRC-20, this part of the original OSHI team also needs to make a larger general index called Moto, in short, any developer can submit their FT standards to Moto, and then Moto stacks these standards to achieve asset interaction across FT protocols.

CBRC-20 Popular Token Inventory

BORD

The first Token of CBRC-20, with a total amount of 21 million, the minimum of the current Token is about 2.2 U, and the corresponding Market Cap is about 46.2 million U. One of the major features of CBRC-20 that we mentioned earlier is that there is no type limit, it can be a coin or not a coin, for example, the deployment inscription of $BORD is not a text format, but an HTML file that introduces CBRC-20.

NODE

Known as the first utility token on CBRC-20, it provides CBRC-20 Token batch minting service on Discord. The total amount is 10,000, the minimum of the current token is about 200 U, and the corresponding Market Cap is about 2 million U.

SYSM

A double-sided inscription that claims to be recognizable by both the CBRC-20 protocol and the BRC-20 protocol. The total amount is 21 million, and the current minimum of a token is about 0.12 U, corresponding to a Market Cap of about 2.52 million U.

Here you may be a little confused - didn’t I say that one v 0.10.0 and one v 0.9.0, how can two different versions of the Ordinals protocol indexes be compatible?

The original inscription seems to be in an “envelope” (OP_FALSE OP_IF OP_PUSH Contents, contents, and contents… OP_ENDIF), the index has to open the envelope and read it word by word, so that you can know what kind of agreement is in the envelope (which index to do the work), what this inscription represents, what to do…

“metaprotocol” is like a clear letter on the envelope, I am an inscription of such and such a protocol, and the index can interpret my instructions according to the instructions of such and such a protocol. The index to v 0.10.0 knows that this is a CBRC-20 inscription. Then I read down and found that the text was written in the set of BRC-20 indexes, and the index of v 0.9.0 knew that it was a BRC-20 inscription. It’s really not a good deal, but there are parts that can be understood.

9999

Performance art, 9 to the mechanism, just look at the following diagram to understand:

It currently has a Market Cap of more than 1 million U.

CBRC-20 Common Tools

Inscription - (Mint’s is OK without tipping)

Market - (There are still many things that have not been done well, such as not being able to go up and down by unit price, which looks very messy)

Conclusion

Judging from the current market performance, except for the first Token $BORD, the others are still relatively flat, which is similar to Tap…

Although the market performance is similar, compared with Tap, CBRC-20’s underlying positioning has been upgraded from patch to magic change, and the progress is still relatively large. Of course, the bigger value is actually the Moto (the original part of the Oshi team). Moto’s new CBRC-20 Token has been deployed, and a Snapshot of Oshi’s old BRC-20 Token has been completed, ready to send a new Token to start over. Unless Tap invites $TRAC to its own agreement, CBRC-20 has formed a narrative suppression trend at this stage.