Original Author: Cookie, Rhythm BlockBeats
Although there are many difficulties in operation, the market attention of Bitcoin NFT has not diminished in the slightest. More and more Ethereum NFT projects are heading to the "orange market".
Digi Daigaku CEO Gabriel Leydon Announces Digi Daigaku Genesis Series Holders Will Receive Free Bitcoin NFT
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Sappy Seals founder wab.eth announced that he will issue a series of Bitcoin NFTs in the form of gamified Free Mint. At the same time, he also claimed that he has prepared related technologies to enable this series to be traded on Ethereum
While the Ethereum NFT project team is marching towards the Bitcoin NFT market, some individuals have made big news. For example, a boring ape with a last transaction price of 108 ETH, BAYC #1626, was "burned" by Bitcoin OG Jason A. Williams (@GoingParabolic)!
The "burning" we are familiar with is to transfer NFT to the black hole address 0x00000000000000000000000000000000000dEaD, but now the holding address of BAYC #1626 is 0xcC6251db97730972A4e1875Afa27F07600DbCDcC?
This is not the "burning" we are familiar with, but the "Teleburn remote burning" of the latest version of the Bitcoin NFT protocol Ordinals.
Then, an ETH address was obtained using the "ord teleburn" command of the Ordinals protocol.
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(Image credit: @CryptoSkelly)
According to the code on Github, we can know that this address is Hash hashed on the ID of "Inscription 5353" (that is, the Bitcoin version of BAYC #1626) through the SHA 256 method of Rust's Bitcoin Hash library, and the output value is taken It is obtained by adding "0x" to the first 40 bits. Based on the characteristics of the SHA 256 algorithm, the possibility that the generated ETH address has been controlled by someone is very small.
Why not just put the NFT on ETH into the black hole address 0x000000000000000000000000000000000000dEaD, but still keep this small possibility of being stolen? The reason is to facilitate the confirmation of the Bitcoin version of NFT. Everyone can take the picture of BAYC #1626 to generate NFT on Bitcoin. If 0x0000...0000dEaD is entered, it will inevitably cause confusion in the confirmation of rights.
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For example, "Inscription 5413" also uses the picture of BAYC #1626, but as long as the "Teleburn remote burning" command is executed once, the output ETH address will tell us that it is a fake
The "burning" of Jason A. Williams has attracted a lot of criticism. Some people say that he is just grandstanding, some people say that it is foolish to give up the practical value and community value of BAYC just to create a Bitcoin version, and some people question whether the behavior of destroying the original version and using the new version of Mint Bitcoin constitutes an infringement of intellectual property rights. But for Jason A. Williams, it's all very simple. He is a bitcoin Maxi who believes that the bitcoin NFT created by Ordinals is the future and nothing more.
The Ordinals protocol, which provides the "Teleburn remote burning" function, is further expanding the scope of "burning". Next, this "fire" will also "burn" to Solana, Tezos, and Stack. At the same time, the community is also exploring the possibility of using the "Teleburn remote burning" function to realize the DID service of the Bitcoin main network. Currently, there are two directions of discussion. One is to confirm the rights through the bitcoin balance of the address of the domain name. When the balance is not enough to support the surviving of the domain name, the next Mint domain name owner will be recognized, so as to achieve a one-to-one correspondence. At the same time, "Teleburn remote burning" supports different Migration of chain domain names. The other is to uniformly generate the domain name NFT through the Ethereum smart contract, and then realize the mapping through "Teleburn remote burning".
