Demystifying Indexing in the World of BRC20 Tokens a. 1/ What exactly is indexing and why is it crucial for BRC20 tokens.
14 Sep 2023, 13:27
Demystifying Indexing in the World of BRC20 Tokens a 🧵
1/ What exactly is indexing and why is it crucial for BRC20 tokens? 🤔
Let's break it down. While BRC20 inscriptions are fully on-chain, the Bitcoin L1 doesn't interpret inscription data.
Same news in other sources
314 Sep 2023, 13:27
7/ ❗️Alex’s mission is to validate each BRC20 event and update the global state of balances on a decentralized, on-chain contract.
7/ ️Alex's mission is to validate each BRC20 event and update the global state of balances on a decentralized, on-chain contract
7/ ❗️Alex’s mission is to validate each BRC20 event and update the global state of balances on a decentralized, on-chain contract.
14 Sep 2023, 13:27
5/ 💡 While anyone can manually verify the global state through indexing, it's more convenient to consult a centralized indexer. However, Bitcoin remains the ultimate source of truth. Indexers could vanish, but no funds would be lost, as all data is on-chain and reconstructible.
5/ While anyone can manually verify the global state through indexing, it's more convenient to consult a centralized indexer.
5/ 💡 While anyone can manually verify the global state through indexing, it's more convenient to consult a centralized indexer. However, Bitcoin remains the ultimate source of truth. Indexers could vanish, but no funds would be lost, as all data is on-chain and reconstructible.
14 Sep 2023, 13:27
6/ 🛠️ Important note: Indexing isn't the same as mining. Indexers track transactions but don't validate or append transaction data.
Understanding the role of indexers is essential for a robust BRC20 ecosystem! 🔍 #Indexing #BRC20 #Bitcoin #Blockchain #CryptoEducation
6/ Important note: Indexing isn't the same as mining.
6/ 🛠️ Important note: Indexing isn't the same as mining. Indexers track transactions but don't validate or append transaction data.
Understanding the role of indexers is essential for a robust BRC20 ecosystem! 🔍 #Indexing #BRC20 #Bitcoin #Blockchain #CryptoEducation