Luminex, the platform associated with the Bitcoin Ordinals launchpad, has put forward a proposal for the BRC-69 standard. This standard aims to simplify the creation of Recursive Ordinals collections by reducing inscription costs and streamlining the on-chain pre-reveal process.
Recently, Ordinals developers introduced recursive inscriptions as a solution to the size limitation of NFTs caused by Bitcoin’s 4 MB per block constraint. 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 of one another and unaware of other inscriptions.
BRC-69 Can Reduce the Cost, Says Luminex
Luminex builds upon this advancement and claims that the BRC-69 standard can significantly reduce inscription costs by more than 90%. The cost reduction is realized through a 4-step process that includes inscribing traits, deploying a collection, compiling it, and minting the assets.
Under Luminex’s proposal, minters only need to inscribe a single line of text instead of a full image. This text serves as a reference, enabling the automatic rendering of the final image across Ordinals frontends using on-chain resources alone. According to Luminex, this results in flawlessly rendered images that can be interacted with like typical image types in Ordinals.
Apart from cost savings, Luminex suggests that the implementation of the BRC-69 standard opens up possibilities for additional enhancements and features. For instance, it enables the launch of collections with a fully on-chain pre-reveal process, eliminating the need for off-chain resources to unveil the collection, including the final image and associated traits, directly on the blockchain.
The Ordinals protocol gained prominence earlier this year for enabling the creation of tokens and NFTs on the Bitcoin network, leading to increased transaction volumes and fees.
Source: https://coinpedia.org/news/bitcoin-ordinals-launchpad-introduces-proposal-for-brc-69-standard/