What are the innovations of GBRC721 compared to BRC721?
What makes GBRC721 different from BRC721 in terms of innovation?
Recently, there has been strong opposition to BRC721, as not all data is stored on the chain. Currently, there are some alternative solutions, with GBRC721 leading the way due to its 100% on-chain storage. Ordinals Labs has officially summarized the innovations and advantages of GBRC721 compared to BRC721, believing that GBRC721 has introduced an interesting evolution of the NFT standard on the Bitcoin network.
GBRC721 is an extension of the BRC721 standard, notable for its increased efficiency in block space utilization. The unique “deploy” operation stores the characteristics of a collection only once on the blockchain, which subsequent “mint” operations reference. This increased efficiency means lower potential costs for creators and more efficient use of Bitcoin network resources, in line with core blockchain principles. The GBRC721 standard also promotes enhanced decentralization. It does not rely on external indexers, making it more scalable and cost-effective than its predecessor.
A key innovative feature of GBRC721 is image generation verification, allowing creators to include the SHA256 output of generated images on the blockchain. This adds an extra layer of trust, as anyone can recreate and verify the image using only on-chain data. The standard also significantly improves user interaction. With GBRC721, minted inscriptions can display the actual generated image instead of text data, ultimately enhancing the end-user experience. GBRC721 introduces a simplified process for creating and minting non-fungible Ordinals collections on the Bitcoin blockchain, which may streamline the creator’s process.
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A significant shift provided by GBRC721 is its 100% on-chain data storage capability, different from BRC721 which relies on IPFS. This ensures overall data security and persistence on the blockchain without relying on external systems. GBRC721 introduces an interesting evolution of the NFT standard on the Bitcoin network. It provides creators with a more scalable, efficient, and potentially cost-effective method, while providing users with greater trust. Overall, BRC721 currently leads in the collection protocol area, while IPFS goes against the spirit of Ordinals, as one of its primary benefits and challenges is 100% on-chain data storage. If it were not for this, it could have a negative impact on their future prices.
Many people believe that the core point of GBRC721 is to reduce the cost of on-chain gas, but I don’t think that’s the case. The most important point is to separate each NFT asset we hold from the image material, which brings flexibility. The project’s image material is carved on the chain, and each NFT asset contains a pointer to these materials. NFTs of the same series (with the same material type and location, but different content) can generate many new series without the need to redesign the material, only by rearranging and combining pointers to create interesting new assets.
Reference: https://twitter.com/ordinallabs/status/1666866635691393040
