jakiro
Author: Ordslabs, @peter3050
RecentFracatl EcologyThe focus of attention isCat20 protocol, there may be two possible reasons for the FOMO:
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This is a new coin issuance protocol based on OP_CAT, which is in line with the emotional characteristics of the Web3 industry that “plays new but not old”;
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The official support of Fractal further aroused the market’s imagination.
After many space discussions with the @scryptplatform team (the Cat protocol was developed by the anonymous team based on the scrypt platform), a vague judgment was drawn that even if the above emotional factors were aside, the technical characteristics of Cat20 will bring great development to it.space.
1. Chaotic dispute over agreement
Before explaining this conclusion, go backBTC Ecological Coin Issuance AgreementProblems faced: There are too many agreements and the advantages between each agreement are not obvious, which makes no one convinced.The end result is that liquidity and consensus are becoming increasingly fragmented.
It can be said that there is no winner in the current BTC ecosystem’s coin issuance agreement dispute, and the entire ecosystem is a loser.As the lowest element of the ecosystem, the standards of assets are not uniform, and it is difficult to support subsequent applications, so it is difficult to create significant wealth effects (the assets in the BTC ecosystem can hardly maintain a market value of more than 1 billion yuan, which is extremely incompatible with the scale of BTC).Without significant wealth effect, it will be difficult to attract external users and institutions to enter, resulting in long-term fall in the ecosystem.PVP(Player vs. Player) situation.
2. Cat20: Fractal’s “Son of Chosen”
Fractal maintained a lot of consistency with BTC at the beginning of its design, but there were some obvious differences, such as faster block production (up to 20 times faster) and larger each block.These changes will also have a significant impact on the coin issuance agreement.For exampleBRC20In the scenario, due to the 10-minute block time of a layer, a large number of users have enough time to participate, thus forming a large consensus.
But on Fractal, the fast block time makes the whole process end almost instantly.In addition to scripting experts who can quickly obtain chips, a large number of retail investors do not have enough entry time at all.As @0xquqi said, it wasn’t enough to pull a group of 500 people in the end.In order to increase consensus, an easy way is to significantly expand the number of assets and give more people time to get on the bus, but this will bring about problems such as flooding of assets and declining scarcity, which will diverge from value.
How to issue assets on Fractal, which can not only avoid the flooding of numbers, but also ensure sufficient time to allow more people to participate, thus generating a stronger consensus?Cat20It seems that this problem can be solved.
As shown in the legend, Cat20 is based onOP_CAT, has programming capabilities, and can set some pre-rules during the mint process, so that the mint process can last for a certain period of time or cover a wider population.Moreover, the scrypt team confirmed that these rules can form customized templates, and there may be tools in the future to facilitate coin issuers to set the required rules.
The ideal process of issuing coins may be likeBTC miningThe process:Difficult, low threshold.
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Difficult: Set rules (such as BTC’s password problem) during the mint process, so that it takes a certain amount of time for everyone to mint, and the probability of mint success is approaching the same.
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Low threshold: Ordinary users can also participate in mint, such as participating in BTC mining through mining pools. In the future, with the improvement of Cat20 infrastructure, it is entirely possible to create a “difficulty and low threshold” coin issuance process on Fractal to allow moreUsers participate fairly, thus producing stronger consensus in the first step.
Therefore, the programmability and other features of Cat20 are expected to becomeFractalThe most suitable coin issuance agreement in the environment.
The first half of this article mainly explains that Cat20 is likely to become the most successful coin issuance protocol on Fractal.We will discuss the second halfCat20Is it possible to unify various agreements in the BTC ecosystem, end the chaotic disputes between agreements, and lead the industry to the next stage, so stay tuned.
