Inscription 2.0 Era: Can Recursive Inscriptions Push Bitcoin On-Chain Smart Contracts to be Possible?

Inscription 2.0: Can Recursive Inscriptions Enable Bitcoin On-Chain Smart Contracts?

Recently, the “Recursive Inscription” proposed by Casey Rodarmor, the creator of the Bitcoin protocol Ordinals, has inspired more imagination in the community. This simple change unlocks many powerful use cases. After the birth of the Recursive Inscription, the community or individuals have built multiple projects based on its syntax. Currently, there are 6 collections and indexes that have been launched on the trading platform MagicEden. BlockingNews columnist Wu Hai analyzed the potential of recursive inscriptions and outlined the very story-driven and dramatic Recursive Punks event.

In the previous way of engraving, each inscription was independent and there was no connection between them. But by introducing recursive inscriptions, it is possible to completely engrave a lot of code on the Bitcoin chain, which can allow the size of inscriptions to exceed the 4MB limit of Bitcoin blocks and fully put complex 3D video games on the chain. This also makes the community believe that smart contracts similar to ERC20 may be able to run on the Bitcoin chain, making scalability and interoperability on the Bitcoin chain possible.

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On June 13th, Recursive Punks announced the free minting of 10k Recursive ordinals series, but after the community engraving was completed, many users found that the official developer of Recursive Punks used old text, resulting in the inscriptions obtained by users who previously engraved using the official SVG file being without images. After that, the community began to spread the correct correction method, and after 24 hours, the corrected image version of Recursive Punks was engraved. But then the community found that the imageless version launched by MagicEden displayed clear images. After technical analysis, it was found that the official Recursive Punks submitted a collection to MagicEden, and used front-end rendering to display images on the MagicEden platform. This means that they did not use the implementation method of recursive inscriptions to display, which is somewhat different from what the community expected. The corrected version of the image after syntax correction by the community was also uploaded to the MagicEden platform. The community is still following up to further develop the correct version of inscriptions using corrected syntax.

The emergence of recursive inscriptions has opened up possibilities and imagination for the Bitcoin chain that was previously non-interoperable, non-programmable, and had poor scalability. For example, it allows NFTs to be combined with each other, making it possible for small games on the chain; or it can decompose inscriptions, similar to fragmentation, to generate more calls. Some community members also associate it with the possibility of realizing decentralized websites. From the protocol level, the future is limitless, and there are enough grand narratives waiting for developers and users to build and use. However, the front-end is still in a highly controlled situation, because whether an inscription or an NFT series can be included in the platform’s collection and index determines its speed of development and the consensus it is preached.

Reference: https://www.panewslab.com/zh/articledetails/v05mnz61.html

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