What is BRC-100?

BRC-100 is defined as an extensible decentralized computing protocol. This designation highlights two of its core characteristics: its extensibility and its decentralized nature. As an extensible protocol, BRC-100 is designed to be adaptable and scalable, allowing for the integration of new features and functionalities over time. This aspect is important in the rapidly evolving blockchain landscape, where the ability to adapt to new demands and technological advancements can significantly impact a protocol’s relevance and longevity.

The decentralized aspect of BRC-100 is equally important. It operates on a distributed network, meaning that it is not controlled by any single entity. This decentralization is a fundamental principle of blockchain technology, offering a level of security, transparency, and resilience that centralized systems often lack. In the case of BRC-100, this decentralized framework is not just about distributing data or assets but also about decentralizing computing processes.

Ordinals Theory and BRC-100

The foundation of the BRC-100 protocol is deeply rooted in Ordinals Theory, an advanced concept in blockchain technology. Ordinals Theory provides a methodical approach to assigning ordinal numbers to blocks and transactions within a blockchain network. This systematic assignment is crucial for maintaining order and consistency in the blockchain’s ledger, a ledger that is not just a record of transactions but also a sequence of computational steps and states.

By leveraging this theory, BRC-100 can efficiently manage and execute complex computing tasks within its decentralized framework. This capability is particularly important for applications that require a high degree of accuracy and reliability in their operations. The integration of Ordinals Theory into BRC-100’s architecture not only bolsters its computational efficiency but also ensures a higher degree of precision in the execution of decentralized applications. This integration marks a significant step forward in the evolution of blockchain technology, moving it beyond mere transactional capabilities to more sophisticated computing functionalities.

BRC-100 Marketplace: inBRC

Overview of inBRC: The First BRC-100 Marketplace and Indexer

inBRC stands as the pioneering marketplace and indexer for the BRC-100 protocol, marking a significant milestone in the BRC-100 ecosystem. As the first of its kind, inBRC offers a platform where users can engage in trading and view a comprehensive range of applications and tokens developed on the BRC-100 protocol stack, including BRC-100, BRC-101, BRC-102, BRC-103, and others. This marketplace is a trading hub and serves as an information center, providing detailed insights into the various tokens and applications within the BRC-100 ecosystem. It presents key data such as 24-hour trading volume, current market value, sales, and holder statistics, offering a transparent and detailed overview of the market dynamics.

Functionality and Impact of inBRC on the BRC-100 Ecosystem

The functionality of inBRC enhances the visibility and accessibility of BRC-100 based assets. For investors and users, the marketplace provides a user-friendly interface to explore and invest in various BRC-100 based projects, making it easier to navigate the diverse offerings within the ecosystem. The availability of real-time market data and trends aids users in making informed decisions, contributing to a more vibrant and active trading environment.

Governance of BRC-100

BRC-100 as an Open Protocol for the Bitcoin Ecosystem

BRC-100 is established as an open protocol, primarily designed to augment the development of the Bitcoin ecosystem. Its open nature signifies that it is accessible and modifiable by a wide range of developers and contributors. This approach is instrumental in fostering innovation and growth within the Bitcoin space, as it allows for a diverse set of ideas and technologies to be explored and integrated. By serving as a foundational framework for future protocols, BRC-100 aims to streamline and enhance the capabilities of Bitcoin, not just as a cryptocurrency but as a comprehensive decentralized platform for various applications.

Collaborative and Decentralized Governance Approach

The governance model of BRC-100 is characterized by its collaborative and decentralized nature. This model is built on the principle that the best way to develop and maintain a robust protocol is through collective effort and wisdom. In practice, this means that the development, maintenance, and evolution of the BRC-100 protocol are not confined to a single entity or group. Instead, it involves a community of developers and stakeholders who work together to propose, review, and implement changes and improvements to the protocol. This collaborative approach ensures that a wide range of perspectives and expertise are considered, leading to more well-rounded and effective developments.

The proposal process in BRC-100’s governance is designed to be inclusive and transparent. Any member of the community, regardless of their background or level of involvement, can propose changes or improvements to the protocol. These proposals are then made available for review by the entire community, allowing for open discussion and feedback. This stage allows for a diverse set of opinions to be heard, ensuring that the protocol evolves in a way that is beneficial to the broader community.

The modification process in BRC-100’s governance is executed with a focus on consensus and collaboration. Once a proposal has been thoroughly reviewed and discussed, it undergoes a process of refinement and adjustment, often involving the original proposer and other community members. The decentralized nature of this process ensures that no single entity has undue influence over the protocol’s development, maintaining the integrity and democratic nature of BRC-100’s governance model.

BRC-100 Extension Protocols

Support for Protocol Extension in BRC-100

BRC-100 is designed with a unique feature that allows for the extension of its core protocol, enabling developers to build upon and enhance its foundational capabilities. This support for protocol extension allows for continuous evolution and adaptation in response to changing needs and technological advancements. Extension protocols can be developed and integrated into the BRC-100 framework, providing additional functionalities or improving existing ones. This extensibility is made possible by the protocol’s modular architecture, which is designed to be both flexible and interoperable. It allows for seamless integration of new features without disrupting the core functionalities of the existing system, ensuring stability and continuity.

The process of extending BRC-100 involves creating new protocols that inherit the base properties of BRC-100 while introducing new elements or capabilities. Developers can build on the work of others, creating a collaborative environment that drives the protocol forward in a cohesive and coordinated manner.

Enhancing Capabilities through Extension Protocols

By allowing for the addition of new features, these extensions can address specific needs or use cases that the original protocol may not have been designed for. Extension protocols enable BRC-100 to remain relevant and effective, providing solutions that are tailored to the evolving demands of its users.

These extension protocols contribute to the overall robustness and versatility of the BRC-100 ecosystem. They allow for a level of customization and specialization that would be difficult to achieve within a single, monolithic protocol. For instance, an extension protocol could introduce new transaction types, smart contract functionalities, or consensus mechanisms, each catering to different applications or user groups.

BRC-101: A Decentralized On-Chain Governance Protocol

BRC-101 is a decentralized on-chain governance protocol specifically designed for the BRC-100 protocol stack. Created by Mikael.btc on September 16, 2023, BRC-101 serves as a framework for governing applications based on the BRC-100 protocol or its extensions. This protocol inherits from BRC-100 and extends its functionalities, focusing on decentralized governance mechanisms. It outlines procedures for updating properties of parent and child applications or tokens, stopping applications, and adding child applications within the BRC-100 ecosystem.

The core functionality of BRC-101 revolves around decentralized on-chain governance, enabling automatic execution of governance decisions following decentralized voting. This protocol makes it possible to update attributes and stop applications based on the BRC-100 protocol stack exclusively through BRC-101. For adding child applications, BRC-101 is required if the child application protocol parameter ‘openAsChild’ is set to false; otherwise, users can directly deploy child applications.

BRC-101 can only be deployed as a child application of a parent application, allowing anyone to deploy a governance child application for any parent application. The executability of these governance child applications depends on the ‘ids’ (Is DAO Started) attribute of the parent application.

The voting process involves several steps, including burning parent application tokens to the governance child application, withdrawing voting certification, canceling votes, and withdrawing parent application tokens after vote cancellation.

The protocol introduces new computing operations (cops) like vote1/vote2 and unvote1/unvote2, which are used for voting and unvoting in governance proposals. BRC-101 adds new states such as ‘Votes for Yes’ (vfy), ‘Votes for No’ (vfn), and various status indicators for the governance child application, enhancing the transparency and effectiveness of the governance process.

BRC-100 Improvement Protocols

The BRC-100 protocol embraces a structured yet flexible approach for proposing and implementing improvements, ensuring that the protocol meets current standards and adapts to future requirements. This process begins with the proposal stage, where community members, developers, or any stakeholders in the BRC-100 ecosystem can suggest enhancements or modifications. These proposals are typically detailed, outlining the nature of the improvement, its intended benefits, and any potential impacts on the existing system.

Once a proposal is submitted, it undergoes a thorough review process. This involves scrutiny by other community members and experts within the field, who assess the feasibility, relevance, and potential implications of the proposed improvement. Feedback and discussions are encouraged, often leading to refinements and adjustments of the initial proposal.

This collaborative review process ensures that only well-thought-out and beneficial improvements progress to the next stage. After a proposal has been refined and agreed upon, it moves into the implementation phase. This phase involves the actual coding and integration of the improvement into the BRC-100 protocol. The implementation is done with careful consideration to maintain the integrity and stability of the existing system, ensuring that new changes seamlessly blend with the core functionalities.

BRC-100 Protocol Indexer

BRC-100 Protocol Indexer in the Ecosystem

The BRC-100 Protocol Indexer acts as a comprehensive database and search engine for all things related to the BRC-100 protocol. It serves as a centralized point of access for information on various applications, tokens, and transactions that exist within the BRC-100 network. This tool is designed to provide users, developers, and stakeholders with an easy and efficient way to navigate the complex landscape of the BRC-100 protocol. By indexing data from the blockchain, the Protocol Indexer offers a detailed and organized view of the network’s activities, including the deployment of new applications, token transactions, and changes within the protocol itself.

The functionality of the BRC-100 Protocol Indexer provides valuable insights into the network’s dynamics, such as token distribution, application usage, and transaction patterns. It allows developers to identify trends, understand user behavior, and make data-driven decisions. For investors and users, the Indexer offers a transparent view of the protocol’s activities, helping them to track the performance of tokens and applications and make informed decisions.

Contribution to Transparency and Efficiency

The BRC-100 Protocol Indexer significantly enhances the transparency of the BRC-100 ecosystem. In a landscape where information is key, the Indexer provides a clear and unobstructed view of the on-chain activities. By having access to a reliable and up-to-date source of information, stakeholders can ensure that their interactions with the protocol are based on accurate and comprehensive data.

By organizing vast amounts of blockchain data into a searchable and user-friendly format, it saves users and developers a significant amount of time and effort. This efficiency is significant for those looking to develop or invest in applications within the BRC-100 ecosystem. The Indexer’s ability to provide quick and easy access to relevant data means that developers can focus more on innovation and less on data retrieval. At the same time, investors can make quicker and more informed decisions.

Technical Specifications of BRC-100

Protocol Parameters, Operations and Computing Operations

The BRC-100 protocol is characterized by a comprehensive set of parameters and operations that define its functionality. The main parameters include ‘extends’, ‘upgradeFrom’, ‘openAsChild’, and ‘stoppable’, each serving a specific purpose in the protocol’s architecture. For instance, ‘extends’ determines inheritance from other protocols, while ‘stoppable’ indicates whether an application can be halted.

Computing operations in BRC-100, expressed by the ‘cop’ attribute, are relevant to the protocol’s decentralized computing capabilities. These operations define the computational logic that applications should follow when executing tasks like minting or burning tokens. The protocol’s design ensures that these computing operations are flexible yet consistent with the overall framework, allowing for a wide range of functionalities while maintaining compatibility and stability within the ecosystem.

Deployment, Minting and Burning of Tokens

The deployment process in BRC-100 involves setting up new applications or tokens by specifying their attributes and operations. This process is critical as it lays the foundation for how the application or token will function within the ecosystem. Once deployed, applications can perform operations like minting and burning tokens, pivotal for managing the token economy within BRC-100. Minting creates new tokens, increasing the supply, while burning removes tokens from circulation, effectively reducing the supply. These processes are governed by the protocol’s rules and parameters, ensuring that token supply management is transparent and consistent with the intended design of the application.

Unique Computing Operations: mint2/mint3 and burn2/burn3

BRC-100 introduces unique computing operations such as mint2/mint3 and burn2/burn3, each adding a layer of complexity and functionality to the protocol. The mint2 and mint3 operations extend the basic minting process by incorporating specific conditions or states. For example, mint2 can be used for minting tokens under certain conditions, often involving updates to the application’s state, while mint3 allows for minting that does not affect the circulating supply, useful for specific application scenarios. Similarly, burn2 and burn3 extend the standard burning process. Burn2 is used for burning tokens under specific conditions, often leading to changes in the application’s state, while burn3 allows for converting tokens into a different state within the application without reducing the circulating supply.

Conclusion

The BRC-100 protocol is distinguished by its comprehensive parameters, diverse operations, and advanced computing functionalities. Its ability to support protocol extensions like BRC-101 and unique computing operations such as mint2/mint3 and burn2/burn3 present its adaptability and innovation in addressing the complex needs of decentralized computing. The protocol’s structured approach to deployment, token management, and governance reflects a well-thought-out design that balances flexibility with consistency, ensuring that it remains a relevant and powerful tool in the blockchain sector.