Atomicals (ATOMARC): Pioneering the ARC-20 Fungible Token Standard on Bitcoin
What is Atomicals (ATOMARC)?
Atomicals (ATOMARC) is a protocol that revolutionizes the landscape of digital assets by introducing the ARC20 fungible token standard. Atomicals allows for minting fungible tokens directly on the Bitcoin blockchain, with each token backed by 1 satoshi forever. This innovative approach creates a system where each tiny fraction of Bitcoin, known as a satoshi, represents ownership of a valuable digital asset, and thereby ensures the token's intrinsic value and stability, akin to a digital gold reserve.
ATOMARC, the first demonstration ARC20 fungible token, was launched at Atomicals inscription #0. Its launch marks the beginning of a new era in digital asset creation and management.
How Atomicals (ATOMARC) Works
Before the advent of BRC20 and ARC20, the Bitcoin network was primarily used for transferring Bitcoin tokens. However, with the introduction of these token standards, the Bitcoin network and its native token have been given expanded utilities and flexibilities. Atomicals, in particular, enable individuals to create fungible tokens (ARC20 tokens) and essentially "attach" token information to satoshis, the smallest unit of Bitcoin.
Decentralized Minting
One of the key features of Atomicals is decentralized minting, allowing anyone to initiate the creation of tokens. This process involves setting parameters such as the ticker name, award per mint, total mint count, and start block height. It's like setting up a digital mint where tokens are securely generated and distributed on the blockchain. For added security, minters can implement a specific parameter that demonstrates proof of work and energy burn during the minting process of a particular token. This parameter allows for the creation of tokens that are verifiably rare.
Direct Minting
Alternatively, Atomicals offer direct minting, where tokens are minted by creating a single output containing the total supply. Each satoshi within this output represents a single unit of the token. This method provides full control over the initial token distribution, ensuring transparency and mitigating the risk of counterfeit tokens.
Metadata and Token Details
Atomicals also facilitate the inclusion of metadata, providing other vital information about the token. This metadata includes the token's name, description, image, links to websites or communities, and legal terms. It serves as a digital identity card for each token, enabling users to verify its authenticity and understand its purpose.
Transfer of ARC20
ARC20 tokens are digital assets that exist within the Bitcoin network, and each token is intrinsically linked to a satoshi, the smallest unit of Bitcoin. Therefore, the transfer of an ARC20 token is essentially the transfer of its associated satoshi. In other words, each ARC20 token carries its complete transaction history, so there is full transparency for every transfer. Also, as the transfer process for ARC20 tokens occurs entirely within the Bitcoin network, it eliminates the need for additional data entries into Bitcoin like BRC20. This mechanism makes the transfer of ARC20 very efficient, much more so than the transfer of BRC20.
ATOMARC Goes Live on Bitget
Atomicals represents a significant advancement in the field of blockchain technology. By leveraging the existing infrastructure of the Bitcoin network, Atomicals has introduced a new level of versatility and efficiency in the transfer of digital assets, which is present in ATOMARC, the first demonstration fungible token that follows the ARC20 standard.
Step into the future of blockchain technology with ATOMARC, the trailblazing token of the ARC20 protocol. This token not only represents a significant leap in tokenization but also offers a unique investment opportunity. Available on leading crypto exchanges like Bitget, ATOMARC tokens are at the forefront of the digital asset revolution.
How to Trade ATOMARC on Bitget
Step 1: Go to ATOMARCUSDT spot trading page
Step 2: Enter the amount and the type of order, then click Buy/Sell.
Atomicals has not only expanded the functionalities of the Bitcoin network but also paved the way for a new era of tokenization. The infrastructure for ARC20 continues to rapidly evolve, and it holds great promise for the future of digital assets and blockchain technology.
Trade ATOMARC on Bitget now!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
