BRC-69 is a revolutionary standard for quickly creating recursive ordinal collections. This default will be the engine that launches recursive collections on Bitcoin.
🟨 (1/7) GM! Today we are pleased to introduce BRC69, a revolutionary standard for easily creating recursive #Ordinals collections. This standard will play an important role in launching recursive collections on Bitcoin.
More details here: https://t.co/zaID07tnD5
🧵👇 pic.twitter.com/jmzSMVOYme
— Luminex (@luminexio) Jul 3, 2023
BRC-69 can reduce the cost of inscriptions for Ordinals collections by more than 90%. This reduction is achieved through a 4-step process:
- (1) register properties,
- (2) stakes collection,
- (3) compiling collections,
- (4) coin assets.
The brilliance of BRC-69 lies in its simplicity. Minters only need to write in one line of text rather than a full image. This text allows the final image to be rendered automatically on all ordinals frontends, using only on-chain resources, thanks to recursive inscriptions.
With this new standard a perfectly reproduced image. Unlike other recursive SVG collections, these images can be dragged, dropped, and saved as typical image type ordinal numbers.
In addition, the BRC-69 offers great flexibility and enables more improvements and functions. For example, it is now possible to launch collections with a fully on-chain pre-disclosure process. The new standard will be tested with upcoming launches on Luminex.
Scams and exploits ran rampant as Ordinals introduced NFT-like digital media ets and later meme tokens to the Bitcoin blockchain. Last week, the Ordinals space saw an attack described by some users as the biggest yet.
Earlier on June 9, a new meme token project named ORNG was launched through a fake website called “Luminux” which many people mistaken for Luminex.
Soon after, Twitter users complained about their Bitcoin wallets draining after signing a transaction to mint a new meme token. It’s unclear exactly how much money was stolen in the attack, but the wallet involved in the scam got about 2.37 Bitcoins (worth about $63,000).
Luminex and Xverse, the Bitcoin wallet making company, are among the companies warning users about the scam and posting details on Twitter to avoid falling into the same trap.
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