STAMPS Blogs/Articles

SRC-20 tokens are fungible digital assets on the Bitcoin blockchain, created using Bitcoin Stamps technology to store immutable data in unspent transaction outputs (UTXOs). This article explores SRC-20 tokens and Bitcoin Stamps, explaining their role in expanding Bitcoin’s functionality, their creation process, key differences from other token standards, potential use cases, and future impact on the Bitcoin ecosystem.

The Bitcoin blockchain has recently gone beyond being merely a ledger for transactions. Innovations like Bitcoin Stamps and SRC-20 tokens have completely changed the way in which users engage with this blockchain. According to Bitcoin, they are creative opportunities, from securing digital art to tokenizing assets: Decentralised and Secure. Below is a comprehensive exploration of what Bitcoin Stamps are, the SRC-20 token standard, the differences between the two, and their possible future.

The introduction of Bitcoin Stamps is a groundbreaking method for safely storing distinct digital assets on the Bitcoin network. They are a cutting-edge method of using the Bitcoin blockchain to gather and validate digital art. These stamps incorporate artwork into transactions on the Bitcoin network, in contrast to the typical non-fungible tokens (NFTs) present on other blockchains like Ethereum. By putting the picture data in base64 format into a Bitcoin transaction, the digital art becomes unchangeable and resistant to loss or modification.

You might have heard about SRC-20 tokens (often referred to as SRC 20 or SRC20 tokens) , a new digital asset on the Bitcoin blockchain. Essentially, SRC-20 enables the direct embedding of data within Bitcoin transactions. This ensures immutability and permanence.

Bitcoin STAMPS are a relatively new innovation in the blockchain space, allowing users to embed non-fungible tokens (NFTs) directly onto the Bitcoin blockchain. Unlike other NFTs that often reside on blockchain networks like Ethereum, Bitcoin STAMPS leverage the Bitcoin blockchain's immutability and security to ensure the permanence of digital art and other media.

Although it may be undervalued at present, the SRC20 protocol distinguishes itself among protocols operating on the Bitcoin network due to its unmatched data permanence, a new report has claimed. The study also found that the protocol’s impending cost-reduction upgrade renders it an attractive option for long-term projects and investments.

Bitcoin Stamps are the digital images stored on the Bitcoin blockchain with the help of the SRC-20 token standard.

Over time, Bitcoin has evolved to support various applications beyond its initial purpose, including embedding additional data within transactions. The Bitcoin STAMPS protocol enables data embedding, building on the capabilities introduced by previous technologies like the Ordinals protocol. In this article, we will explore what Bitcoin Stamps are, how they work, and what makes them different from Bitcoin Ordinals.

The Bitcoin STAMPS protocol is an innovative method that allows for the embedding of image data onto the Bitcoin blockchain. Here’s how it works.

Initially designed as a straightforward store of value, Bitcoin has since transcended its basic functionalities to allow a range of use cases. One such function is the embedding of additional data in Bitcoin transactions. And the STAMPS protocol – is a new way of doing just that, though it isn’t the first.

SRC-20 tokens are tokens on the Bitcoin blockchain. They store data using UTXO, which ensures permanent Bitcoin storage that cannot be pruned.

Has 2023 become the year of token standards in the crypto space? One of the most notable developments is the emergence of the SRC-20 standard on the Bitcoin blockchain. Some say it's inspired by Ethereum's famous ERC-20. Many believe that SRC-20 brings a new dimension to digital art and tokens on Bitcoin, offering a blend of innovation and tradition. That's just like another familiar token standard, BRC-20.

Bitcoin Stamps, a protocol for storing text and image data within Bitcoin transaction outputs, offering a more native Bitcoin solution compared to the Ordinals protocol, albeit at a higher transaction cost. Inspired by the BRC-20 token, SRC-20 is a standard for Bitcoin chain tokens created based on the Stamps protocol.

The Bitcoin blockchain, a bedrock of cryptographic innovation, has given rise to diverse applications beyond its initial purpose as a digital currency. Among these innovations are Bitcoin Stamps and Ordinals, two distinct approaches to embedding data into Bitcoin’s ledger. While both hold significance in the blockchain landscape, a detailed analysis reveals the superiority of Bitcoin Stamps, particularly due to their immutable nature and permanence within the UTXO set, as opposed to the prunable nature of Ordinals.

Storing "Art on the Blockchain" as a method of achieving permanence is often a misnomer in the NFT world. Most NFTs are merely image pointers to centralized hosting or stored on-chain in prunable witness data. We propose a method of embedding base64-formatted image data using transaction outputs in a novel fashion.