@ins_evm 加油。是金子总会发光。你需要和社区保持沟通
Go for it. There's an old Chinese saying that "Gold will always shine." You need to maintain communication with the community.
The essence of inscription is to inscribe data into the permanently stored blockchain system. In fact, the original intent of the #ordinals protocol designed by @rodarmor was to inscribe NFT data within satoshis, rather than #BRC20 or similar FT (Fungible Token) tokens.
However, this unintentional act led to the creation of #BRC20, and the market has clearly accepted this asset model of #BRC20.
In Bitcoin, #BRC20 assets are entirely interpreted through a centralized asset interpreter. If there are issues with this interpreter, then the carriers of users' assets would encounter problems, affecting transactions as well. However, smart contracts based on #EVM can fully implement the #BRC20 protocol like #ERC7583, thus providing a secure carrier for assets under the #BRC20 protocol.
$INSC+ is the first implementation of #ERC7583, with NFTs serving as vessels for carrying FTs. You can control the quantity of FTs within each NFT. Consequently, users can sell all the FTs by selling a single NFT, mirroring the transaction model of #BRC20 assets. This also unlocks the ability to utilize all the #DeFi protocols on Ethereum.
Additionally, the #BRC20 standard is implemented through contract code, and we also offer the ability to record data on Ethereum via the smart contract event `Inscribe(uint256 indexed insId, bytes data)`. This ensures that NFTs can be more than just vessels; they can also possess artistic value.
@RAF_BTC @OrdinalsNexus This encompasses all the benefits of adopting ERC7583 for inscription assets on Ethereum. https://t.co/PxbVzEq7SH
@ins_evm@opensea@okx In my understanding, ERC-404 focuses more on providing liquidity and innovative trading methods for the NFT market, while ERC-7583 is dedicated to standardizing the embedding of data within smart contracts. ERC-7583 is expected to have a deeper impact on Ethereum.