Casey Rodarmor, creator of Ordinals Protocol, which works on the Bitcoin Network, has announced the latest version of the tool, the evolution of its project, and can register any content in its chain.
In a YouTube submission on March 19th, Rodarmor not only marked this technical milestone, but also revealed an update to Runes’ protocol, Runes, with the introduction of «.agent“(agent). According to Rodarmor, this feature is promised Enable automated markets (AMM) directly extends the network’s potential beyond traditional capabilities as digital currency or value reserves directly to Bitcoin Layer 1 (L1).
Rune, before this update.”agent‘, exchanges were not natively supported by that protocol, but by default it relied on manual transactions in Bitcoin using non-depent transaction outings (UTXO).
Ritual Future: Order 1.0
To understand the scope of ORD 1.0, you need to remember what the preface is first. As explained by Cryptonoticia, this protocol was introduced by Rodarmor in 2023, You can assign a unique identity to SatoshisBitcoin’s smallest unit, via the numbering system. With Segwit and Taproot updates, Ordinals can register images, text, metadata and other data directly on the network, turning each Satoshi into an identifiable digital asset.
Since its creation, it has been used primarily to generate non-huge tokens (NFTs), known as “inscriptions” in Bitcoin.
With ORD 1.0, Rodarmor is trying to integrate its system and prepare it for a wider adoption. As explained in the presentation, this new version will be developed after more than two years of development and coordination. Users and developers are ready to adopt it.
«ORD 1.0 is the culmination of efforts to stabilize the protocol and increase reliability for anyone who wants to use it. The software is already well proven and we don’t think it will make any dramatic changes.
Cody Rodormer, creator of ordinals.
Improvements imposed on ORD 1.0
From a technical point of view, ordinals continue to rely on SecWit, increasing the available space for data within the block, and enabling TapRoot. script It’s more complicated without compromising privacy or efficiency. Ord 1.0 Refine these mechanisms and make sure there are inscriptions It’s more accessible and error-pronethe protocol is important to gain long-term traction.
Among technical improvements, Rodarmor highlighted its ORD 1.0 Includes optimizations for indexing registrations (A technical process of organizing, tracking and recording information related to Satoshu “registered” in specific data). Similarly, this ordinance update will increase compatibility with Bitcoin consensus rules and facilitate nodes processing complex data.
He did not detail the specific changes for each, but revealed that the unstable experimental properties were eliminated and errors that affect the user’s experience were fixed. In Rodarmor’s words, “I want an ordinal that is as easy to use as sending a Bitcoin transaction.”
Rodarmor considers this update as a turning point that allows ordinals Transcends first use as a tool for NFT: «It’s not just images and collectibles. It’s building a base for something much bigger ».
For the use mentioned, the tokenization of assets, the creation of a decentralized financial system, or the company or developer Integrate new applications into Bitcoin Without relying on secondary layers or side chains. This approach reinforces the commitment to the network’s philosophy. Everything should happen in L1which makes it distinctive and takes advantage of the security and decentralization.
The role of the community, the pillars for rolling
According to its creator, ordinal futures are primarily community dependent. A stable version is ongoing and we hope that more developers will explore their potential, from artistic projects to business solutions.
However, he also tackled criticism of those who believed that registration would “pollution” the network with non-financial data. «Bitcoin is neutral. Users have the freedom to decide how to use it every time they comply with the rules,” Rodarmor said, defending his protocol. Does not change the essential behavior of the networkbut expand.
Runes, “Agents” and Bitcoin AMM
The second axis of Rodarmor’s presentation was the evolution of Runes, a protocol derived from ordinals that debuted as an alternative to creating alternatives for Bitcoin. Previous Cryptootics reported how several tokens issued through these protocols created shots on network commissions.
Unlike ordinal numbers that individualize Satoshis to register unique content, Runes allows you to issue assets at defined amountssimilar to the Ethereum ERC-20 token (ETH), but natively integrated into Bitcoin L1. The system aims to simplify the tokenization of Bitcoin.
It didn’t specify that this implementation was already working, but Rune’s great novelty is the introduction of «agent» (Agent), a feature that Rodarmor described as “interactive construction of transactions.” Simply put, an agent is an automatic entity that allows multiple parts Work together in real time to build transactions With Bitcoin without relying on each other.
“An agent allows transactions to be made more dynamic and programmable, but they’re all within Bitcoin rules,” he explained. This mechanism uses existing features of the Bitcoin network, rather than relying on intelligent contracts such as Ethereum.
Rodarmor is intended for a more convenient Bitcoin network
The most ambitious announcements relating to agents are: amm (Automatic market maker)or automated market creator) for Bitcoin L1 runes. AMM is a system You can exchange tokens automatically Through liquidity pools, a concept that is prevalent by platforms such as Uniswap.
In the case of Bitcoin, agents promote liquidity suppliers, donate funds to Rune’s Pol (for example, tokens issued with this protocol) and exchange fees for which users pay those tokens in BTC. All this happens without a centralized intermediary and without leaving the basic layer of the network.
Liquidity pools are general token funds deposited by users who act as suppliers, allowing others to exchange between those assets according to a predefined formula. A typical AMM does not have purchase or sale orders like traditional exchanges. instead, Price will be automatically adjusted Based on supply and demand within the pool.
Rodarmor stressed that achieving this with Bitcoin is a challenge due to network limitations, such as the 1MB block size (extensible with SECWIT) and the lack of complex programming languages (such as Bitcoin uses). scrypt). However, the agent solves this problem by adjusting the transaction Without demanding trust between parties.
“We were able to have a native, diversified market for Bitcoin, from stupid to synthetic assets.”
Cody Rodormer, creator of ordinals.
This has the advantage of inheriting the security and resistance to L1 censorship, despite the obstacles to the limited programmability of the Bitcoin protocol.
But he admitted that Scalability remains a failure. Because each transaction must be adjusted to the Bitcoin block limit, the amount of AMM operations during the rune is limited compared to Layer 2 or alternative networks. “It’s an experiment, but it’s the beginning,” he admitted, suggesting that future iterations could optimize this design.
There’s also an agent Expanding Bitcoin use cases Beyond ordinal NFT. Companies and communities can issue tokens to represent stocks, royalty points, or stable currencies linked to real-world assets managed by L1.
Finally, Rodarmor emphasized that this flexibility does not undermine Bitcoin principles. «There is no need to change the network. What’s already there is only used in a more intelligent way».
(TagStoTRASSLATE)Bitcoin (BTC)(T)NFT (Independent Token)
