Luminex, a launch pad platform for Bitcoin Ordinals, has proposed a new BRC-69 standard that promises a staggering 90%+ reduction in registration costs.
Ordinal Entries are digital assets similar to NFTs, enrolled in one Satoshi, the lowest denomination of a Bitcoin (BTC). Bitcoin ordinals are on-chain, written directly to the Bitcoin network. Ordinals previously had a 4 megabyte limit on entries.
According to the Luminex protocol GitHub, there is a need for inventive solutions where creators can contribute their ideas while optimizing efficiency. BRC-69 seeks to circumvent the enrollment limit through “Recursive Enrollment”: calling up data from existing enrollments and using it in new ones.
The BRC-69 standard works on a 4-stage process of feature enrollment, collection deployment, compilation, and finally asset minting.
“In addition, this standard paves the way for more intriguing on-chain features such as the launch of pre-reveal collections and on-chain reveals,” the Luminex post reads. “This is achieved by automatically and seamlessly rendering images in the Ordinals browser, with no additional action required.”
With Luminex’s BRC-69 standard, miners would only need to enter a single line of text instead of a full image. This text serves as a reference that allows the final image to be automatically rendered in Ordinals interfaces, via string resources.
Recursive Enrollments are a breakthrough for ordinary developers
On June 12, Ordinal developers introduced recursive enrollments to bypass Bitcoin’s 4MB per block limit that restricts the size of NFTs. According to a tweet from pseudonymous developer Leonidas, creator of the Ord.io marketplace for signups, the new feature “unlocks many powerful use cases.”
“Exactly how people will use this is still unclear, but this is certainly an important moment in Bitcoin history,” the Tweet read.
The Ordinals protocol rose to prominence earlier this year, enabling the creation of BRC-20 and NFT tokens. As a result, Bitcoin transactions and fees on the network saw a significant increase.
Recursive enrollments not only improve efficiency and reduce costs, but also speed up the storage of artworks on the chain. “The art is simply stored on-chain in a much more efficient way, which could have saved over a million dollars in transaction fees in the case of Bitcoin Apes,” Leonidas noted.
