A detailed explanation of what inscriptions are, even novices can understand.
Inscriptions are so popular that friends outside the circle come to consult. Below is a detailed explanation of the ins and outs of inscriptions.
1: First, let's look at the entire process of inscription casting
1. Define a string (that is, an inscription) such as: data:,{"p":"erc-20","op":"mint","tick":"dma","amt":"100"}p refers to the protocol, op is the method, tick is the name, and amt is how many can be cast at one time. The total amount is 21 million by default.
2. Send the string to the community. For example, you can start casting from 3:00 this afternoon. The process of casting inscriptions is essentially to attach this string to a fixed address when transferring money for the convenience of statistics. If the transfer is successful, it is considered to be cast successfully, so there will be many transfer transactions on the chain, and the transfer transaction amount is 0, which is purely gas consumption.
3. Statistics. After everyone has finished playing, find the first 2100w/100, that is, 21w transfer transactions (the latter ones will be invalidated), that is, the first 210,000 transfer transactions with this string of users and holdings, and put them in your database.
4. Index. Map the user address and holdings to the contract you wrote yourself, so that you can do the inscription transfer transaction on the chain.
After reading it, friends who are familiar with blockchain will say that this is just a fart thing with pants off. It is this prejudice that caused me to almost miss the entire inscription market.
2: Inscriptions are essentially:
1 A new way of issuing assets.
2 A new way of interaction.
3 Before listing, it is NFT, and after listing, it is currency.
It will not run away, and there is no institution to unlock and smash the market, which is particularly friendly to retail investors. The only dog suitable for retail investors. In the past, you went to the public chain to interact with various dapps to make money, and then waited for airdrops. Now you go to the public chain to carve inscriptions, and then you can cash out immediately.
Third: The reason why institutions rarely enter this field of getting rich quickly is that they have not yet controlled the most important link in determining the ownership of inscription assets, namely the indexer. If they enter, the possible consequence they face is that the indexer will do evil. They believe in blockchain very much, but they dare not trust the indexer, especially the indexer that is not within their control. The centralization risk is still the most important reason why institutions dare not enter the market.