Bitcoin Ecosystem Protocol Development History
Tracing the development of Bitcoin since its inception, this includes the evolution of ecosystem protocols, inscriptions, NFTs, DeFi, etc. It's suitable for newcomers to understand BTC chain assets and protocol evolution. This includes the development history of BRC-20, ARC-20, Runes, Alkanes, etc.
Event Timeline
Runes Protocol Token $DOG Listed on Kraken
Kraken exchange, as one of the largest cryptocurrency exchanges in the world, listed Runes protocol token $DOG, its price surged 14.82%, reaching a market capitalization of $457 million. Marking a new stage in the development of the Runes protocol. RuneStone price rose from 0.0024BTC to 0.003BTC
Unisat Delists ARC-20 Market, Favors Alkanes
Unisat completely removed support for ARC-20 assets. Like a scumbag who keeps kicking out exes, no one can walk into the future with a beast.
OKX Delists Runes Inscription Market
Including some Runes assets, claiming not to meet the listing standards, recharge on the same day, and stop withdrawals after September 20.
Tragedy of Bitcoin Ecosystem
1. OKX App hides the inscription market entrance; 2. Binance wallet delists BRC-20 inscription market; 3. Unisat wallet no longer supports ARC-20; 4. Leading $ORDI $SATS continued to fall; 5. OKX wallet delists Runes inscription market
DotSwap Decentralized Exchange Released
Third-party platform supports Runes, Alkanes asset trading, enhancing cross-protocol connectivity.
Pizzaswap Decentralized Exchange Launched
Integrated by Unisat, supporting BRC-20/ARC-20 asset liquidity trading.
Fractal Bitcoin Released
Similar to BSV's Bitcoin sidechain, it has fast block generation and is considered a Layer2 facility.
Bitcoin Ecosystem Went Out, Bitcoin Mainnet Price Increased
BTC price led to a general bull market, but the chain ecosystem was still in a wait-and-see stage.
Alkanes Protocol Released, Suspected ARC-20 Resurrected
Claiming to support BTC ecosystem protocol with smart contracts, the concept of ARC-20 smart contract, the naming of the protocol followed the concept style of physics and chemistry. The difference is that the original AVM virtual machine concept directly adopted Ethereum's EVM as a substitute.
Runes Market Plunged
$ORDI fell to 20 u, $SATS fell to 11 u, NodeMonkes fell to 0.09 BTC, Bitcoin Frogs fell to 0.028 BTC, non-mainstream protocols retreated.
Alkanes First Token $DIESEL
After listing, the price rose significantly, increasing by 20 times in a short period of time, but the support of various wallets and the construction of ecological infrastructure were limited.
5-character Inscription $Pizza Airdrop Event
Symbolic BTC ecological commemorative inscription, initiated by Unisat inspired by RuneStone, platform paid huge gas and distributed it to Unisat wallet users who met the standards, rewarding early participants in the Bitcoin ecosystem.
Runes Rune Protocol Released. Compared with BRC-20: Solving Single Step Transfer Issues
Introduced by the author of Ordinals, simplifying the process of token creation, no inscription needed for transfer, token types like $DOG support broader distribution.
RuneStone Airdrop Released
Introduced by LEO and responsible for all GAS consumption, the largest NFT airdrop under the concept of Runes, also the most costly airdrop action in the Bitcoin ecosystem, with $DOG redeemable, peak floor price reached 0.05 BTC, becoming the most consensus asset in the rune ecosystem.
Merlin BTC Second Layer Staking
Supporting BRC20/NFT/BRC420 asset collateral gains, opening BTCfi application scenarios.
RSIC Rune Pre-Mining Mechanism
In the game mode before the rune protocol was issued, holding RSIC inscription accumulated game points, which could be redeemed for rune tokens after the issuance of the rune protocol.
NodeMonkes NFT Dutch Auction Launched
Claiming to be the original 10K project, floor price rose to 0.9 BTC, with 17 BTC (about 560 ETH) sold to rare alien species.
$ORDI, $SATS Listed on Binance Exchange, Third Wave of Bull Market Started.
$ORDI peak price reached 97 u (30,000 times), $SATS reached 94 u (300 times), $RATS total market capitalization exceeded $600 million
ARC-20 Atomic Protocol Released, Compared with BRC-20: Increased Mining-based Inscription
Compared with BRC-20, it supports mining-based inscription before calculation, and the essence is a clone protocol based on BRC-20, but due to the founder Arthur's promotion of supporting AVM virtual machine to achieve BTC-level smart contract on layer 1, the project was delayed and became rug.
Trust Wallet Released ORC-20 Guide
Introducing ORC-20's flexibility and security, promoting its ecological acceptance.
SRC-20 Protocol Launched
Based on Stamp protocol, introducing a new way of asset inscription, supporting Token and NFT creation.
Blockchain Transaction Fees Soar
Increased issuance of BRC-20/NFT, Gas fee reached 500 sats/vB. Uncommon sats rose to 1200 u, Rare sats reached 10 BTC, Epic sats sold for 33 BTC.
Ordinals Technology Upgrade
Introducing recursive inscription, parent-child inscription structure, and curse inscription repair; protocols such as Bitmap, BRC420, Atomicals, etc. were born.
$ORDI Listed on OKX Exchange
Listing price about 10u, unable to return to the peak, starting a correction period.
$ORDI Listed on Gate Exchange, Triggering Second Wave of BRC-20 Bull Market
Initial price about 29.58 u, initial cost return exceeded 10,000 times.
Frogs NFT Became Popular
Price rose from 0.002 $BTC to 0.12 $BTC, becoming a hot 10K series due to Meme heat and community activity.
Punks NFT Peaked
Floor price reached 0.12 $BTC, then entered a correction period, ending the NFT bull market.
ORC-20 Protocol Released. Compared with BRC-20: Solving Double Spending
Upgrading BRC-20, solving double spending issues and data inflation, with lower acceptance.
BRC-20 Protocol Released
BRC-20 should be considered as a token standard based on Json format. Proposed by domo, based on Json data agreement on token name, quantity, etc., the first $ORDI token was inscribed at #348,020, with initial minting cost of 0.003 micro-$BTC, marking the beginning of Bitcoin native token issuance on the chain. The disadvantage is that each transaction needs to be inscribed before transfer, meaning two $BTC transactions are needed to send 1 BRC-20 transfer.
Punks Triggered Ordinals NFT Bull Market
Punks floor price rose to 2 $ETH (about 0.12 $BTC), driving the explosive growth of Ordinals NFT market, with OrdinalPunks floor price reaching 2 $BTC.
Punks NFT Minting
The first 10K NFT series based on Ordinals protocol, minted by users of CryptoPunks community, starting at 0.2 $ETH.
Sats Name Protocol Released, Application in Json Format
Standardization: the first JSON format inscription protocol, promoting the standardization process of data inscription on Bitcoin chain.
Unisat Wallet Launched
The first wallet supporting Ordinals protocol, continuously deploying indexing services and subsequent BRC-20 inscriptions market infrastructure, greatly promoting BTC chain ecological infrastructure. Unisat provided the core transaction market of the Bitcoin ecosystem
Ordinals Protocol Released
Data protocol, introduced by Casey Rodarmor, allowing data to be inscribed on a single satoshi, enabling BTC NFTs and the era of on-chain asset issuance. Protocol principle: it assigns a unique serial number to each satoshi as data carrier, and Ordinals protocol binds data with Bitcoin itself. The era of BTC NFTs and on-chain asset issuance began.
Bitcoin Genesis Block Mined
Satoshi Nakamoto mined the genesis block, establishing the network foundation of Bitcoin.
Bitcoin Concept Emerged
bitcoin.org domain name registered, marking the beginning of the Bitcoin concept.