What are the new developments behind the widespread adoption of the Atomicals ecosystem?

23-12-14 12:44
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Table of Contents:
· Founder Arthur Rare Appearance
· Atomicals Protocol Update: Supports Small Transactions
· Realm Rule Update: Users Can Use ARC-20 Tokens to Pay for Subrealms Casting

On the morning of December 14th, according to Atomicals Market data, the mainstream ARC-20 tokens in the Atomicals Protocol ecosystem saw a general rise in prices.

Among them, DMINT is priced at $0.12, with a 24-hour increase of 196.3%; BITVM is priced at $0.03, with a 24-hour increase of 47.73%; REALM is priced at $0.72, with a 24-hour increase of 53.41%; AVM is priced at $0.2, with a 24-hour increase of 48.9%; ATOM is priced at $10.49, with a 24-hour increase of 10.26%.

Among these tokens, the price of ATOM broke through $13 yesterday, also setting a new all-time high.

It is worth noting that behind the general rise of mainstream ARC-20 tokens, the frequent ecological updates of Atomicals Protocol in the past week, as well as the rare appearance of the founder yesterday afternoon, have all become one of the driving forces behind the general rise of its mainstream tokens.

Related reading: "What are the ecological projects on Bitcoin protocols Ordinals and Atomicals?"

Founder Arthur Rare Appearance

Yesterday afternoon, Atomicals Protocol founder Arthur accepted an interview invitation from Ordinal Revolution Podcast and shared the recent developments of Atomicals Protocol and his views on the Bitcoin ecosystem in the interview without appearing in person.

Interview room screenshot

(Note: The content contains HTML tags and an English link, which should not be translated. Therefore, the translation is provided in the same format as the original text.)

During the interview, Arthur pointed out that not many people paid attention to building DMINT functionality at the beginning. The Atomicals Protocol was originally built for the Realm system, which aimed to completely change online identity and naming issues. However, the protocol's versatility makes it suitable for any type of computer program, making it an ideal choice for dynamic systems.

Arthur said that developers are ready to build a decentralized ID platform on Realms, allowing users to attach their avatars, names, and links to their online profiles.

Meanwhile, he also explained in detail the trading rules of Subrealms and DMINT, telling the community that "the groundwork has been laid and is available for others to continue developing."

In addition, Arthur also expressed his views on meta protocols during the interview. He believes that meta protocols are a new way for developers to create their own data structures and rules, rather than using existing strict structures. Meta protocols like Atomicals Protocol are constantly emerging, allowing developers to leverage smart contracts and create new structures.

The creator can focus on the Atomicals Virtual Machine (AVM), which will enable developers to create smart contract programs on Bitcoin and create unprecedented experiences.

Atomicals Protocol New Rule: Supports Small Transactions

In addition, Atomicals Protocol has recently introduced new regulations in the past week, which has also raised higher expectations from the community.

On December 7th, Atomicals Protocol proposed an innovative splitting plan for ARC-20 tokens in their official documentation, aiming to solve the "dust limit" problem in the Bitcoin network. In the Bitcoin network, the smallest unit of a single UTXO transfer is 546 satoshis, which limits the application of ARC-20 tokens in small transactions.

Source: Atomicals Protocol Official Documentation

Atomicals Protocol proposes a solution that overcomes the limitation of supporting a single ARC-20 token by introducing "Substantiation Factor" (SF) to redefine the amount of satoshis required to support a single token. The core of this solution is to allow token holders to convert their token units from 1:1 to smaller ratios such as 1:10, 1:100, etc., effectively "splitting" or "dividing" their token units to any precision.

It is worth noting that performing this operation requires providing collateral in the form of regular tokens as the token unit. By default, ARC-20 operations have 0 decimal places, meaning a 1:1 realization. By changing the index to obtain decimal places, different ratios of "rescaling" or "re-realization" can be achieved.

For example, to trade one token unit while respecting the dust limit, simply actualize each token unit with 1,000 satoshis, and then execute a transfer of 1,000 satoshis with an exponent of 3. This approach not only maintains the substitutability and liquidity of ARC-20 tokens, but also greatly improves the flexibility and precision of transactions.

Realm Rule Update: Users Can Use ARC-20 Tokens to Pay for Subrealm Minting

On December 12th, Atomicals Protocol released the trading rules for Subrealms and DMINT, allowing Realm owners to mint Subrealms by paying with bitwork or ARC-20 tokens, making it easy for users to create advanced rules and payments in real-time, as a condition for receiving Subrealms and DMINT NFT items.

Realm is a native naming system for Bitcoin, and anyone can register freely. Each name is an NFT token, which belongs to the user forever unless they choose to give or sell it. The RNS (Root Name System) aims to be a global alternative to DNS and all other blockchain naming systems.

Subrealms is the name that comes after the realm name, separated by a dot, representing a subclass or product in the organizational identity hierarchy. Subrealms can be used to showcase NFT collections or other assets within a realm. They can be owned by individuals and sold to others, or issued as separate tokens on the Bitcoin blockchain.

This update also means that ARC-20 tokens can be used to pay for DMINT NFTs. Some community members pointed out that the series of updates to the Atomicals Protocol accurately captured the "needs and excitement points" of the community.

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