Introducing the BRC-69 standard, Luminex, the platform associated with the Bitcoin Ordinals launchpad, proposes a game-changing solution for the creation of Recursive Ordinals collections. This innovative standard aims to simplify the process, reduce costs, and enhance the functionality of NFTs on the Bitcoin network.
Read all about it here.
A Breakthrough for Ordinals Developers
Ordinals developers recently tackled the size limitation of NFTs caused by Bitcoin’s 4 MB per block constraint by introducing recursive inscriptions. These inscriptions enable collaboration among different tokens and NFTs on Bitcoin by allowing them to reference each other’s content using a specific syntax.
Prior to this development, Ordinals inscriptions representing tokens and NFTs were independent entities, oblivious to other inscriptions.
Luminex Takes It Further
Building upon this groundbreaking advancement, Luminex takes NFT creation to the next level with the BRC-69 standard. This standard promises a staggering reduction of over 90% in inscription costs, achieved through a streamlined, 4-step process: inscribing traits, deploying a collection, compiling it, and minting the assets.
Under Luminex’s proposal, minters are only required to inscribe a single line of text instead of a full image. This text serves as a reference, leveraging on-chain resources alone to automatically render the final image across Ordinals frontends. Luminex ensures that these flawlessly rendered images can be interacted with just like typical image types in Ordinals.
Beyond Cost Savings
Luminex suggests that the implementation of the BRC-69 standard unlocks a realm of possibilities for additional enhancements and features. By enabling the launch of collections with a fully on-chain pre-reveal process, the standard eliminates the need for off-chain resources to unveil the collection.
This includes showcasing the final image and associated traits directly on the blockchain, making the entire experience seamless for users.
Ordinals Protocol’s Rising Prominence
Earlier this year, the Ordinals protocol gained significant attention for its role in enabling the creation of tokens and NFTs on the Bitcoin network. As a result, transaction volumes and fees on the network have experienced a notable surge.
With Luminex’s game-changing proposal, the BRC-69 standard, NFT creation and collaboration on the Bitcoin network are set to become more accessible, efficient, and cost-effective.
This groundbreaking advancement has the potential to revolutionize the world of NFTs, further expanding the possibilities and driving continued growth in the crypto space.
