🎓Short Overview
Current state
Currently we have many different protocols, all focusing on token minting and transferring. Some improve this by introducing some new operations to allow more functionality, but everything is strictly focused on tokens. But why is that so? Why would the ecosystem stop there, and not move on to bigger, more exciting stuff. Like staking, farming, yield, AMM and much more. Thats where this idea was born, moving the ecosystem forward!
So what is it?
This protocol allows arbitrary code execution powered by our beloved inscriptions. Anybody can write new contracts, deploy them and make them available to the whole bitcoin ecosystem. This opens up the door to anything imaginable. Anybody familiar with Ethereum or other smart contract chains already had this luxury, but now this is on Bitcoin too. Natively!
How is this possible?
To keep it short and non-technical here.
You inscribe what you want to do. For example: Bitcoin, transfer, 1 to Me 😉
This inscription is minted and now inside your wallet.
You send this inscription to yourself, to have it executed.
Every Lambda indexer picks it up, knows exactly what you want to do and runs the code, updates state and much more.
You see the new balances on any explorer, dapp or anywhere you want.
You see, the inscription triggers the execution -> no Sidechain, Layer 2, etc. is necessary. This is all done on Bitcoin via inscriptions.
Let me in!
To use the protocol:
Transfer BTC to the bridging wallet. This triggers the protocol and you get BTC inside the protocol. BTC is necessary to pay a small fee to the protocol itself
Go to any dapp you want
Get the inscription, or inscribe on the dapp directly
Send it to yourself
?
Profit
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