jakiro
Author: Climber, Bitchain Vision Realm
The recently launched Bitcoin Fractal Bitcoin project launched by UNISAT has become the focus of community attention. As a Bitcoin expansion plan, its ecological projects and tokens are also sought after by early investors, such as FLUX, Pizzaswap, WUKONG, etc.The hottest newborn project in the past two days is the CAT20 token agreement, which has also helped Fractal Bitcoin bring traffic to the BTC ecosystem again.
Cat20 is a token protocol launched by Cat Protocol, a typical network item on Fractal. Once when it comes, the community is struggling with MINT. When the interactive density is the highest density, the main network trading fee of Fractal Bitcoin has soared.5000 SAT/byte.
At present, the total amount of tokens set by Cat Protocol has been close to being beaten, and it will not be two days from the fire to the end.However, community members have different opinions on this new project. Some people think that CAT will have high returns, and some people say that it will not be as good as the previous proliferation runes and inscriptions.
Mysterious but hot experimental project
Since September 12th, the CAT20 protocol has been widely discussed on social platforms. Various publicity and tutorials have continued, especially UNISAT has added the “CAT20” column on the block browser of Fractal Bitcoin, which has also helped the CAT20 MINT of the CAT20 Mint.The enthusiasm and the soaring GAS.
The Cat Protocol protocol sets a total of 21 million tokens. The tokens that were originally planned to be completed in three to four days were also ended by Mint under the blessing of the popularity and the increase of new platforms.At present, CAT holders have exceeded 40,000, and multiple platforms have supported data query functions such as CAT20 progress and holders.
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Earlier members of the community estimated that the FRACTAL network rate level was around 1800-2000 during the Mint peak, and the cost of casting a piece of one was about 2 USDT.However, it still cannot stop the enthusiasm of the participants, which also indirectly leads to the price of Fractal Bitcoin’s project FB from $ 20 to $ 35.
So what exactly is Cat Protocol, which causes huge FOMO between the community?
According to information on the official website of Cat Protocol, it is a new Bitcoin token protocol based on the Fractal Bitcoin, called the Covenant Attested Token (CAT).The protocol is verified by the miners and uses smart contracts to manage the casting and transfer of tokens.Compared with all existing token protocols on Bitcoin, it is enforced only by the Bitcoin script on the first floor.
In the context of Bitcoin, Covenant refers to a mechanism that allows restrictions on the use of future transactions involving a specific set of currencies.Covenant is essentially restricted or rules embedded in Bitcoin transactions, aiming to control the conditions of currency transfer or use.For example, they can limit the address that the currency can send, or it is required to include certain scripts in future transactions.
One of the direct methods to add Covenant is to introduce new operating codes in BIP 119, such as OP_CHECKTEMPLATEMPERIFY (CTV).
The main features of Cat Protocol include:
No indexes: The rule of tokens is guaranteed by Bitcoin consensus.Token data and logic are staying on the chain.It does not rely on any third party (such as indexes) to run.There is no risk of inconsistent indexes. CAT tokens inherit the safety of native Bitcoin’s workload.
Modularization: Since the CAT tokens can be verified in the script, they can be used for other smart contracts and combined into more complex and more interconnected decentralized applications, such as automatic market merchants (AMM), lending and pledgeEssenceThe modular and combined of the CAT token provides a strong and multifunctional new construction block for the application scope of the expansion of Bitcoin.
Programmable casting: The tokens casting rules are not enforced by the indexer, but are implemented by casting smart contracts.These customized and flexible contracts allow token issuers to designate arbitrary casting rules, including open casting.Excessive casting transactions will be directly rejected by the Internet, rather than rejected at the indexer, and will not be mining.
Cross -chain interoperability: The CAT protocol allows different blockchain to carry out unwritten asset bridges, so that applications can run across multiple blockchain.
Compatible SPV: CAT tokens support simplified payment verification (SPV).Light clients (such as mobile phones) can independently verify the authenticity of tokens without trusting any central server.Similar to Bitcoin, enough tokens in the blockchain can be regarded by light clients as effective.
The CAT protocol supports both homogeneous tokens (called Cat20 standards) and non -homogeneous tokens (called CAT721 standards).The technologies developed here are common and can be applied to use cases other than tokens.
As of writing, no more background team information flows from Cat Protocol, but some community members have found that there is a high degree of similarity after comparing the official website documentation of Cat Protocol and OP_CAT project team SCRYPT Office.
However, the Cat Protocol project party also said on the official website that the CAT protocol is an experimental project, which cannot guarantee that the tokens created by the agreement have any value or effectiveness.Users should do cautiously and conduct their own research before use.
Active transactions on the field, different community views
For the burst of Cat-20, the community members have a completely different view. Some people see their token Cat as the next ORDI, and some people think that its value is not high, just to make retail investors contribute FB.
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Some community members@DI2023D showing that CAT’s current off -site transactions are very active, this phenomenon is similar to the previous ORDI.
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A foreign KOL@Pentaeth indicates that the off -site price of CAT has continued to rise, which is now close to $ 3.And optimistic about the future of CAT, think it has 100 times the potential.
At present, there are many opinions in the same views in the community as the above. However, there are still KOL that they are not optimistic about the future development of CAT.
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KOL@Jacksu88 said that the so -called first token CAT on the Flactal Bitcoin of the Forming Network is like the end of the ATOM and PIPE of no one, which will face the situation of no one.CAT has already started running before being officially Mint, and many later participants were affected by FOMO.The projects controlled by the dealer are not fair.
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KOL@Greta0086 said that Bitcoin ecology is basically a Chinese project, and the fractal ecological people are not much different from other people’s markets, and there will be not many people who take over.
Another KOL@123123Crypto believes that Cat Protocol depends on a Bitcoin copy and paste FRACTAL BITCOIN, but it does not have mainstream consensus and does not represent the project.Classic, limited future development.The CAT20 depends on such a three -no FORK chain, and it is obviously not reasonable for the current market value to be 10 million US dollars.
According to the analysis of members of the above community, it can be seen that Cat Protocol does have many doubts. If it is not an early participant, then subsequent investors need to pay more attention to project risks.
summary
The burst of Cat20 can be described as too late to respond. When they are still exploring the Mint method and hesitating GAS, they have been thrown out of the car. The latecomers can only get outside the field at a higher cost.Although there are many questions in the community, there are many views of questioning and empty Cat Protocol, they still can’t resist the enthusiasm of the participants.From early scientists rubbing the Mint website and frequent exit platforms, it has proved that the project has once again condensed a huge amount of attention to the Bitcoin ecosystem.
