The wind of inscriptions is blowing to all major public chains. Is it blindly following the trend behind the national hype, or is it a fair forging of the general trend?

Ethereum EthscriptionsInscriptions

In June this year, Genius.com co-founder and former CEO Tom Lehman launched Ethereum’s first inscription protocol, Ethscriptions, which allows financial and arbitrary data to be written to the Ethereum blockchain main chain, and users can burn any type of files, as long as the file size does not exceed 96 KB. Not long after it went online, due to a vulnerability in V1, Ethscriptions was hacked and a large number of listed inscriptions were stolen. The V2 version was immediately launched and a new Ethereum subscription market protocol ESIP-2 was launched.

Not only that, in the next few months, Ethscriptions will not only introduce ESC VM and dumb contracts (Dumb Contracts), allowing low-cost interactions with contracts and perform calculations on Ethereum, but also announce $eths as the official token. , and also continuously put forward upgrade proposals such as ESIP-1, ESIP-4 and ESIP-5 to improve system efficiency and reduce gas costs, as well as launch a test network of DEX DumbSwap based on dumb contracts. Not long ago, Binance liquidity aggregator Orion also announced the release of the relay Scorpio in the Ethscriptions ecosystem. By bridging dumb contracts and smart contracts, it will bring the DApp applications of the traditional Ethereum ecosystem into the Ethereum Inscription system. The team plans to introduce calculation stability to Ethscriptions in the future. , liquidity staking, cross-chain bridge and other products.

It can be said that Ethscriptions has been providing itself with more functions and ecological empowerment.

Dune data shows that as of November 28, the number of Ethscriptions inscriptions exceeded 2.314 million, the total number of users exceeded 114,000, and the cumulative number of transactions exceeded 257,000. Judging from the increasing number of daily active users and inscriptions, Ethscriptions has grown at a relatively stable rate since October. In addition, according to ETCH market data, the total transaction volume of eths has exceeded 11,000 ETH, with a total market value of US$82.874 million.

Pols inscription on Polygon

Compared with Bitcoin and Ethereum, low Gas is the main advantage of Polygon Inscription, which also brings about a surge in Gas. Polygonscan data shows that the number of Polygon transactions hit a record high of nearly 16.45 million on November 16, and has now fallen sharply. Currently, Polygon’s on-chain inscription market POLS Market is also online and open for trading.

The first Polygon inscription pols are minted based on PRC-20. The token protocol is also inspired by Ordinals. The total amount is 2100. It is also the first inscription on the EVM chain. The over-the-counter price of Pols once soared, and it was even sold on the second-hand trading platform Xianyu. Dune data shows that as of November 28, there are more than 83,000 pols holding addresses, and more than 25 million pols inscriptions have been minted, including many large households holding hundreds of thousands.

According to POLS Market data, as of November 28, the floor price of Pols was 0.69 MATIC, the total market value reached US$10.854 million, the total transaction volume exceeded 401,000 MATIC, and there were more than 82,000 addresses held.

Sols and lamp inscriptions on Solana

Solana Inscription has been supported by popular trading platforms such as OKX Web3 Wallet NFT Market and Magic Eden. The first inscription Sols was created based on SPL-20, which is similar to the Ordinals protocol BRC20, with a total of 21,000 pieces. Although the casting process of Sols is relatively complex, it is still very popular. In addition to the innovative form of inscriptions engraved on NFT, the effectiveness of the inscriptions is also increased through multiple stages of casting, double locking, migration and verification. Data from the NFT platform Magic Eden shows that as of November 28, Sols ranked first in the trading list, with a floor price of nearly 6.3 SOL (cost 0.1 SOL), a total trading volume of 114,000 SOL, and more than 2,900 addresses held.

Similar to Bitcoin’s Satoshi, Solana’s smallest unit, Lamport, is also another popular inscription project on Solana. It also needs to be verified to take effect, which once caused the website to crash. It is worth mentioning that Magic Eden data shows that as of November 28, Lamp’s floor price was 0.1 SOL, the total transaction volume exceeded 12,000 SOL, and the number of held addresses exceeded 5,400.

The popularity of Solana inscription may be directly related to the recent strong rise in SOL prices.

aval inscription on Avalanche

The surge in the number of Avalanche transactions is inseparable from the promotion of the leading inscription AVAL. Its C-Chain (responsible for processing smart contracts) transactions hit a record high on November 21 with a daily transaction number of 5.84 million, while Avalanche has historically The average number of transactions per day is approximately 450,000.

AVAL is an inscription based on ASC20, with a total volume of 21 million, and has received the attention and support of Ava Labs CEO Emin Gun Sirer. Dune data shows that the Avalanche inscription AVAL has been completely inscribed, and it holds more than 23,000 addresses. However, there is currently no market for public trading on AVAL.

Fans inscription on Fantom

Affected by the inscription casting activity, FTMScan data shows that Fantom network gas fees once soared to more than 10,000 gwei on November 23. FANS is Fantom’s first inscription, and is called “the first orthodox fan inscription on the entire network” by the community, with a total of 21 million. Dune data shows (only counting rotations) that as of November 28, there were 24,000 FANS holding addresses, all of which have been inscribed, but the number is on a downward trend.

In addition, BNB, Celo, zkSync, Tron and ADA have also seen an inscription boom. Judging from the above, this wave of inscription craze not only brings significant data growth to various public chains, but also makes miners make a lot of money.

It is undeniable that although investors are rushing to “pay” under the wealth effect, inscriptions with characteristics such as “fairness” and “first come, first served” are also faced with complex new rules, relatively high thresholds, and scientists’ “ “Reservation” and other issues. At the same time, some investors said that many inscriptions use fake transaction volume and increase to attract players to sell orders. At the same time, the cost of issuing inscriptions on many public chains is very low. All kinds of fake inscriptions are flying around, and most of them belong to the stage where the hype exceeds the actual value. , if you want to find value targets in the air, you will undoubtedly draw chestnuts from the fire.

In addition, most inscriptions currently rely on institutional support, community and Meme culture to drive hype. Under repeated reinvention of the wheel, the inscription market still faces difficulties such as weak long-term application narratives, weak infrastructure, and lack of liquidity.

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