Opportunities and risks of inscription ecology

Source: Daoshuo Blockchain

On November 7th, Xan officially launched Bitcoin’s first inscription token, ORDI. At this point, ORDI has finally landed on the world’s largest crypto asset exchange, which means that the inscription token is striding to the public, and the inscription ecosystem is rapidly extending to the public.

This is something we must face up to and affirm about this new technology.

I checked the centralized exchanges that ORDI can currently trade, and in addition to X’an, some other commonly used exchanges have actually been launched for a long time.

But apparently, the influence of other online companies is still far inferior to X’an— and after X’an’s launch of ORDI, its price has almost doubled.

At the time of writing, the price of ORDI is $13.78, while the all-time high was $19.44 recorded six months ago. According to the current momentum of the inscription ecology, the probability of ORDI breaking through the previous high is still very high, but as for when it will break through the previous high and in what way, it is difficult to guess.

In a previous article, I wrote that the characteristic of the inscription ecology is that there are assets first, and then there are applications. And now the popularity of the ecology reminds me of the scene when 1CO broke out in 2017:

At that time, the project party told a story and described a vision, and the coins issued could be robbed like crazy. But in the end, most of the stories told by the project team died, and the few projects that managed to survive were launched after one year at the earliest. Even among these online projects, there are very few that survive to this day and are truly recognized by the public.

Now, the technical threshold for issuing coins using inscription technology is lower, and there are more types of coins to be issued: both fungible tokens like ERC-20 and non-fungible tokens like ERC-721 can be issued. This means that the means and methods of “financing” are greatly enriched, and it also means that there will be more and more frequent mixed things.

In this case, if this wind really blows, I guess the bubble in the future will probably not be small, and after the bubble bursts, it will also be a chicken feather.

Although this may be extremely risky and foamy, I still look forward to this technology as always bringing a new way of building scenarios to the entire crypto ecosystem, and I also look forward to the implementation of blockbuster applications.

Therefore, I still hope that our readers can observe the development of the inscription ecology from the perspective of paying attention to ecological development.

However, no matter how we observe and understand this ecology, we still need to understand some necessary operations and tools. I’d like to share with you some of my favorite websites and tools.

Commonly used platforms for the Bitcoin inscription ecosystem:

The wallet of the inscription ecology: UniSat Wallet

Common platform for BRC-20 tokens: unisat.io

Common platforms for inscription NFTs, domain names, “land”:

Commonly used platforms in the Ethereum inscription ecosystem:

Inscription ecological wallet: still a little fox

A popular platform for inscription tokens, domain names, NFTs: etch.market

In addition to the tools and platforms above, the social accounts of these tools and platforms are also worth our attention, and they often publish various latest news.

In addition, you can find more social accounts of activists and enthusiasts in this field and get more information and advice from the information posted on the social accounts of these platforms and tools.

Finally, I would like to remind our readers to be careful about the risks of the project and not to go to FOMO with a hot head. Especially at this time, we should think about how many of the projects we have FOMO in the past that we have ultimately benefited?

If you really like a project and want to participate in a project, you must carefully investigate and consider it carefully before making a decision.