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In this wave of innovations in the industry, the Bitcoin platform has experienced two new significant upgrades to its technology: Ordinals and Fractal Bitcoin.
Last updated Nov 17, 2024 at 07:47 AM
Posted Nov 15, 2024 at 07:00 PM
Blockchain technology is constantly developing, and it is safe to say that innovations and developments are being introduced constantly.
The ability introduced by ordinals to inscribe data into the Bitcoin blockchain suggests new potential use cases and functionalities. As for Fractal Bitcoin, there is hope and optimism regarding the layer 2 solution, which aims to improve the transaction speed and capacity.
Nevertheless, these innovations are still realized in isolation, thereby avoiding the integration of the two. Connecting Ordinals to Fractal Bitcoin would open the door to endless opportunities, such as shared decentralized app environments and borderless transfer of assets.
Introduced in early 2023, Bitcoin Ordinals is an on-chain protocol-based an asset that enables placing off-chain items on the blockchain. It is a new type of protocol that provides the ability to build objects other than those following the typical token standard on the blockchain and even store them as non-fungible tokens. These novel Bitcoin NFTs can also be called Ordinals or Ordinal NFTs.
In other words, a Bitcoin ordinal is any asset containing data written to a particular satoshi, i.e., the smallest Bitcoin unit on the blockchain. Through Ordinals a unique serial number is associated with each individual satoshi, which depends on the mining sequence. These numbers serve as non-fungible identities, and with their help, every satoshi not only becomes easily traceable, but the ownership can also be defined.
Fractal Bitcoin is the only Bitcoin scaling solution that leverages native Bitcoin Core code to fractally scale an unlimited number of layers on top of the world's most secure and most popular blockchain.
Unlike other scalers, Fractal claims to have a ‘self-replicating consistency’ mechanism that is aligned with the Bitcoin consensus. That means it is possible to trace all Fractal transactions and hashes to the main Bitcoin blockchain since every the transaction is associated with a unique block address.
In addition, the ability to keep its code aligned with the layer-1 chain means a large part of the surrounding ecosystem – including wallets, token standards, and Ordinals – can also be fairly compatible with Fractal. UniSat is one of the project's main participants. It is the Bitcoin inscription service and the marketplace, and their team has already helped Fractal with the infrastructure.
The mechanism by which Fractal Bitcoin functions is named recursive virtualization. This gives rise to many layers on top of the Bitcoin blockchain, and all these additional layers run autonomously but are all connected to the core Bitcoin network. The primary advantage of Fractal Bitcoin lies in its Increased scalability and flexibility. This means that it is possible for the system to scale upward to accommodate large volumes of transactions and data such as Bitcoin ordinals without experiencing significant traffic jams.
As mentioned earlier, Fractal Bitcoin involves the transfer of assets or data between its sub-chain and to the underlying Bitcoin’s mainnet, through special pathways called Fractal’s bridging tools. These bridges facilitate the transfer of assets from Fractal to another blockchain and vice versa, empowering developers and users to transact value with security and low friction.
Simple Bridge is one of the core fractal frameworks which is operated by Unisat. Simple Bridge offers bridging for some assets, including sORDI, sSATS, sQUAQ, sOSHI, sPEPE, sBTC, sTRAC, sMEME, sRATS, and sPIZZA. Simple Bridge with functional features is developed to boost the security and effectiveness of cross-asset transfer in different chains. Its technology consists of incorporating the most advanced cryptographic algorithms which offers great innovation to blockchain.
Below are the important aspects that facilitate Simple Bridge’s security and effectiveness.
Simple Bridge uses highly developed multi-signature technology by utilizing many unidentified nodes. Transactions are signed randomly by these nodes. As a result, this framework not only raises the level of security in transactions but also helps prevent the current system from attacks.
Fractal message transmission mechanism includes the latest encryption methods so that transaction information is encrypted during transmission. This means that even if data is intercepted, one cannot decode any information, giving users assurance of their valued property.
It is important to note that Simple Bridge service architecture is distributed, and in this way, only necessary nodes are made public to address possible security threats. This design makes the system less vulnerable while boosting the overall effectiveness of system operations.
The other available bridge solution is Bool Bridge, which runs on the Bool Network platform. Bool Bridge has bridging services for assets such as bBTC, bORDI, and bSATS.Bool Bridge introduces a decentralized off-chain validation solution into the Fractal environment. Dynamic Hidden Committee (DHC) is an innovative type of system that is based on the Zero-Knowledge Proofs (ZKP) Ring-VRF (Verifiable Random Function), MPC (Multi-Party Computation), and TEE (Trusted Execution Environment) that provides the completely decentralized validation at its platform.
It randomly picks a committee of members from a huge pool of non-selective participants, commonly known as the validator. These committee members are not revealed, and the membership in the committees changes from time to time; therefore, embezzlement and external fraud are nearly impossible.
Here is a breakdown of how Bool Bridge is used to transfer ordinals to Fractal Bitcoin.
Using Bool Bridge, Fractal users can easily switch from using Bitcoins to Fractal in a decentralized manner.
Bool Bridge allows users to perform transactions that are large in number in different chains and can benefit Fractal’s efficient and highly scalable infrastructure to get ordinals transferred safely.
This is where Bool Bridge comes in to open up more DeFi use cases for Bitcoin so that users can engage their BTC optimally across multiple DeFi applications without sacrificing decentralization and security.
The names of the bridged
assets incorporated with the prefixes “s-” and “b-” demonstrate the bridge that
is applicable to transport the said assets or ordinals. This means that users
have a clear vision as to which bridge is handling the asset.
Currently most transfers to Fractal Bitcoin are mostly conducted by only two bridging solutions. However, the developing team is continuously working to introduce more ways for users to transfer Ordinals and other asset types between Bitcoin and Fractal.
By enabling efficient cross-platform asset exchange, Fractal retains the efficiency and cost of trades while opening up new use cases for blockchain products. Whether you are in DeFi, gaming, or just trying to use Bitcoin more effectively, bridges can facilitate these outcomes for you.
The team behind Fractal Bitcoin believes in empowering applications as well as individual users by providing the liberty of choosing different bridging solutions according to their unique needs and preferences. This makes Fractal adaptable when it comes to bridging assets, including the Bitcoin Ordinals.
With the transfer of Ordinals to Fractal Bitcoin now possible, it creates several possibilities within the Bitcoin ecosystem to improve its capacity and usability. Apart from increasing the functionality of the Bitcoin mainnet, these newer technologies enable Bitcoin users to utilize the world’s most decentralized public ledger for more than simple P2P transactions.