Inscription 2.0 gameplay?Analysis of the Move smart inscription MRC20 behind the explosion

Hit 10 billion $MOVE in three days!MRC20 “smart inscription” out of the circle?Inscription opens a new narrative?Inscription 2.0 gameplay?Why is the Move ecosystem the most suitable for issuing smart inscriptions?How will it develop when inscriptions have composability and more playability?What is the difference between the Move ecosystem and inscriptions issued on Bitcoin and Ethereum?

Let’s talk about what’s going on with the recently popular MRC20 smart inscription $MOVE?

The most iconic hot spot in the Crypto circle this year is the inscription boom set off by the Bitcoin ecology, which has created a “retail carnival”, and spinach is also a “heavenly old man” who successfully missed this inscription boom, which also needs to reflect on the attributes of “opening technology reversing” and “new gambling market” only from a technical point of view at the beginning, and ignoring the narrative behind the fair sale, and the narrative is an important factor in determining the price

With the recent general cooling of the market for the popularity of inscriptions, the smart inscription MRC20$MOVE in the Move ecosystem suddenly exploded, the first inscription of MRC20 $MOVE was issued on January 1, 2024, and 10 billion $MOVE was all played in three days, with a Lock-up Position of 100w+ SUI, almost accounting for 1/200 of the entire SUIBlockchain TVL, and nearly 50,000 Address cast, why can the Move smart inscription be successful?

Spinach believes that it has the following advantages:

1. Low Transaction Cost and Fast Processing Speed

The explosion of Bitcoin inscriptions has led to the congestion of the Bitcoin network and high handling fees, making the friction cost of inscriptions and transaction inscriptions extremely high and the waiting time long, which has also become a point that affects the user experience of Bitcoin inscriptions

The inscription on the Move ecosystem not only has a negligible gas fee, but also brings a silky smooth experience with an extremely fast transaction confirmation time, and a better user experience

Second, it has the characteristics of inscriptions

The Bitcoin inscription is essentially engraved on the Satoshi with an “Non-fungible Token”, and then this “Non-fungible Token” will carry a homogenized amount Amount, which is equivalent to an FT embedded in the Non-fungible Token; and because Bitcoin does not have a Smart Contract, an additional indexing mechanism is needed to record the circulation of the inscription, and the indexing mechanism may also lead to some vulnerabilities in the inscription, such as the indexing rule loophole that appeared on OKX some time ago

The structure of the Non-fungible Token embedded in the Bitcoin inscription is actually the same as the SFT semi-fungible token standard of ERC-3525, which can naturally express this type of structure in the Smart Contract system, and the Bitcoin inscription can be sold fairly, and the non-UTXO account system can naturally replace the centralized indexing mechanism. So what are the advantages of “smart inscriptions” in addition to the characteristics of inscriptions?

III. Smart Contract and Asset Ownership Solution

In the Ethereum system, the relationship between assets and smart contracts is closely integrated, and if the smart contract has a loophole, the project party suddenly upgrades the contract to do evil, or the project party leaves a backdoor in the contract, it can lead to the loss of your assets

In the Move ecosystem, the ownership of smart contracts and assets is solved, and even if there is a problem with the smart contract, the user’s assets are still in their own hands

The Move smart inscription can be understood as a box, the box contains your locked assets, and the key to the box is in your hand, and the inspection mechanism of this key is guaranteed by the chain, so the holder of the Move smart inscription has little need to worry about contract security

At the Wallet level, Move’s Wallet usually has the function of visual operation, which can know the changes in account assets after the transaction, which is more friendly and safe for beginners

Fourth, more playability and composability

In the Move ecosystem, due to Move’s special structure mechanism, the Move ecosystem does not need to follow a Token standard to issue assets like Ethereum, which has higher flexibility.

Due to the lack of scalability and composability of Bitcoin, the gameplay of the inscription is too simple, and the intelligent inscription gives the inscription gameplay more imagination, taking $MOVE of MRC20 as an example:

The total amount of $MOVE is 10 billion, and all mints need 21,600 epochs, and there is no concept of total sheets, because the amount of $MOVE in each card is not fixed

According to the current one minute per epoch, it takes a total of 15 days to complete the game, meeting the principles of decentralization and fair launch and distribution

The specific gameplay is one epoch per minute, and each Address can type 1 inscription, so you only need to mint once in 1 minute

Each mint needs to lock 0.1SUI into the inscription, if multiple mints are submitted in 1 minute, the inscription in this epoch will not change, but the overpaid 0.1SUI will be superimposed and locked in the inscription of the current epoch

All locked SUI is in its own inscription and will not be deposited into any third-party accounts or contracts. If you don’t want to hold the inscription, burn it to get back the SUI locked in the inscription

And it comes with two easter egg plays:

1. Rage acceleration mode: If each epoch participates in 500 addresses, that is, the acceleration mode is turned on, and a new round of epoch is opened for every 500 addresses, so the epoch is not necessarily 1 minute, and the total duration will be shortened.

2. Winning mode: The first Address of each epoch will Settlement the transaction of the previous epoch, so you will get an additional inscription, and you don’t need to lock 0.1SUI

The total number of cards is not fixed so that the number of $MOVE cards obtained by each inscription is divided equally according to the number of addresses participating in each epoch may be different, which may be more advantageous for early participating users, and this mechanism can also be designed to randomly allocate the amount within a numerical range, if scratching the lottery ticket is more in line with human gambling

The gameplay of locking SUI allows users to destroy the inscriptions they have played at any time to retrieve their principal, and the funds are not controlled by any third party or contract, and are truly owned by the user’s Wallet, and users can regret their operations at any time, and users are more flexible

The easter egg gameplay also brings more imagination to the intelligent inscriptions, which can be derived from various game models, empowerment inscriptions, combined with full-chain games or other stacks of Lego gameplay, and the imagination space is unlimited

Spinach personally believes that the players who participate in the Bitcoin inscription play is actually a “fair sale”, to put it bluntly, everyone longs for a “fair casino”, and the issuance of the inscription is a way to achieve a “fair casino”, plus the controversy over the Bitcoin inscription is also very large, some Bitcoin developers believe that the inscription is actually a dusting attack, is a BUG, and the attitude towards the Bitcoin inscription begins to polarize

If you just want to have a fair casino, then a fair casino with a lower threshold, lower cost, better user experience, and richer gameplay is not a better potential choice?

Note: The author himself does not have any negative attitude towards the Bitcoin inscription, if there are any cognitive errors, you are welcome to point out