🟧BERC-721
OrdMint Introduces The Industry-First Mapping Proposal (BERC-721)
Last updated
OrdMint Introduces The Industry-First Mapping Proposal (BERC-721)
Last updated
Ordmint proposes the industry-first Mapping Proposal (BERC-721) connecting the BTC and ETH ecosystems like never before. This innovation will empower ushering in a new era of prosperity for the BTC ecosystem while expanding the application value of BTC ecosystem assets.
We introduce BERC-721, an extended version of the BRC-721 protocol (inspired by BRC-20). By drawing upon the concepts and principles of BRC-20, BERC-721 expands tokenization capabilities on the Bitcoin network, including non-fungible tokens (NFTs), to accomplish broader digital asset management and value representation. BERC-721 adopts BRC-20 design principles and incorporates two operational functions: mapping and extraction.
This proposal presents a mapping mechanism for BRC-721 tokens on EVM networks within the Bitcoin network. By leveraging BERC-721, users can map their BRC-721 assets to exercise NFT rights in the BTC network within the EVM network.
The implementation of BERC-721 aims to provide additional resources to the Bitcoin ecosystem and the Ordinals protocol ecosystem, assisting users in effectively utilizing BTC ecosystem assets. Users will have the ability to obtain rewards through contributions to the ecosystem. This mapping mechanism introduces a novel dimension to the BTC ecosystem, establishing a connection between Bitcoin networks and Ethereum ecosystems, and encouraging broader user participation.
Project side deploys inscription (BRC-721)
Users mint inscription (BRC-721)
Users transfer inscription (BRC-721) and add signed message
{
“p”: “berc721“,
“op”: “map”,
“tick”: “ordinals”
}
Users withdraw BRC-721 and add signed message:
{
“p”: “berc721“,
“op”: “withdraw”,
“tick”: “ordinals”
}
Automatically map BTC network NFTs to EVM network
Relay Ordinals metadata to IPFS, maintaining the decentralization, security, and immutability of metadata in the BTC network
Provide BTC wallet single-chain login SDK to EVM service to facilitate BTC network user compatibility with EVM network DApps, reducing the learning curve
Support BTC network asset authentication without switching wallets, enabling EVM network asset verification operations by simply authorizing BTC wallet login
Users will periodically receive additional mapping benefit tokens, which can be used for governance voting, paying protocol usage fees, and obtaining other benefits provided by projects using the BERC-721 protocol.
BRC-721 Token Standard.
This proposal is licensed under the BSD 2-Clause license.
We would love to hear your feedback and suggestions. Additionally, if you are a developer or a project owner interested in developing or collaborating on the BERC-721 protocol, we would love to hear from you. Please feel free to contact us through our Official Twitter: https://twitter.com/OrdmintAPP
