Enabling smart contracts for BRC-20 & Runes. Phase 1: BRC-20 + OCF = BRC-20A Phase 2: Runes + OCF = Runes VM https://teapawt.org/t.co/JyNUNFYsfy
Joined March 2024
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Introducing $CPOS to Runes Converter 🔀
Holders can now convert $CPOS to CPOS•RUNES•VIRTUAL•MACHINE on the site:
compos.io/converter
Here's how 🧵
Compos Protocol retweeted
Introducing $CPOS to Runes Converter 🔀
Holders can now convert $CPOS to CPOS•RUNES•VIRTUAL•MACHINE on the site:
compos.io/converter
Here's how 🧵
"WHAT DO YOU GUYS ACTUALLY DO??"
Hey, Normies.
Think Excel: =IF(logical_test, [value_if_true], [value_if_false])
That's it.
Compos Protocol retweeted
⚡️ THE CURRENT ULTIMATE RUNES TOP TIER LIST ⚡️
Once again, I've spent my valuable time creating the most detailed and researched Top RUNES Tier-List.
If you @ me to complain about bias, you might as well send me your location so I can share my opinion face-to-face.
Either way, we're early. Don't let the fear, uncertainty, and doubt prevail.
Compos Protocol retweeted
Is Bitcoin Ready for Smart Contracts?
This is the argument I had with my friends then we decided dig and find out.
Luckily, we found @composprotocol enabling smart contract for BRC 20 and Runes.
Here’s how they plan to make it possible
————-
Why Compose protocol?
Compose Protocol is a unique smart contract layer designed specifically for the Bitcoin blockchain.
It introduces several groundbreaking features while maintaining compatibility and stability.
Let’s dive into the details:
— Combining Asset and Logic Inscriptions:
Compos enhances existing Bitcoin Layer 1 protocols (such as BRC-20, Runes, and Ordinals) by combining asset inscriptions with logic inscriptions.
Asset inscriptions handle basic token transfers, while logic inscriptions introduce programmable logic.
This separation ensures that security-critical logic remains isolated from asset management.
What’s next?
—-Their Two-Way Conversion Mechanism:
Compos ensures compatibility with existing Bitcoin token protocols.
You can seamlessly convert between BRC-20A (Compos Protocol tokens) and original BRC-20 tokens.
This flexibility allows you to enjoy innovative features while retaining the robustness of established protocols.
—- Moreover they have their first token standard which is :
BRC-20A, built on the compose protocol to widen the potential for BRC-20 tokens.
Holders and developers benefit from new features introduced by Ordinals while maintaining stability and security.
Developers must deploy a BRC-20 token before minting the corresponding BRC-20A token with the same name.
This requirement ensures support for users converting between BRC-20A and BRC-20 tokens.
— One of the nicest feature I love about $CPOS it reduction of gas fee.
But how?
Efficient Token Inscription
Compos supports efficient token inscription by allowing multiple BRC-20A inscriptions on a single UTXO (transaction output).
Fewer transactions mean lower costs and a smaller blockchain footprint.
Users can save over 50% of fees using separate-outputs mode and even more than 90% using same-sats mode compared to CBRC-20.
—- Lastly, On-Chain-Function (OCF) and CVM
OCF plays a pivotal role in augmenting asset inscriptions.
It operates within the Compos Virtual Machine (CVM), implemented using WebAssembly (WASM) on Bitcoin.
OCF enhances existing BRC-20 and Runes assets by infusing them with on-chain logic.
Potential OCF applications include Bitcoin-native DeFi, games, social apps, and ERC404-like protocols.
— Phases of Compos Protocol:
1. Phase 1: Supports BRC-20 tokens combined with OCF. BRC-20A tokens are created by combining BRC-20 asset inscriptions with OCF logic inscriptions.
2. Phase 2: Will support Ordinals NFTcombined with OCF.
3. Phase 3: Aims to integrate Runes with OCF.
@composprotocol Rune conversion is live
Holders can now convert $CPOS to CPOS•RUNES•VIRTUAL•MACHINE on the site:
Links 👉compos.io/converter
My final thoughts
The Compos Protocol is combining the innovation, compatibility, and security, making a way for a more engaging and efficient blockchain ecosystem. What they’re building is special so follow them closely.
Last task: follow @composprotocol and put their notifications on.
For our next update, ALL BRC-20 projects will be able to enter the world of Runes with just a single click.
#brc20runesconversion #runesvm #runes #brc20
Compos Protocol retweeted
I found an amazing protocol for BRC-20 and Runes integration! 👀
Let's examine @composprotocol in detail 👇🏼🧵
What is @composprotocol ?
Compos Protocol enhances existing Bitcoin Layer 1 protocols like BRC-20, Runes, and Ordinals by combining an asset inscription (e.g., BRC-20) with a logic inscription. This combination introduces powerful features to the original asset protocols, leveraging the capabilities of both layers.
Let's look at the purpose of this protocol:
CPOS•RUNES•VIRTUAL•MACHINE is available for trading on major runes marketplaces. Using the official conversion tool released on 27 April, holders can now convert the previously minted $CPOS (minted via a gamified fair launch @CosmicSurvivors) to CPOS Runes.
Upcoming products include
(1) BRC-20 <-> Runes two-way converter / bridge
(2) Runes Virtual Machine
@composprotocol enhances existing Bitcoin Layer 1 protocols like BRC-20, Runes, and Ordinals by combining an asset inscription (e.g., BRC-20) with a logic function, unlocking features like native X-To-Earn on the Bitcoin blockchain.
Compos Protocol has introduced a novel category of logic functions named OCF (OnChain Function), which is integral in augmenting asset inscriptions like BRC-20, Runes, and Ordinals NFT. To some extent, OCF is decentralized and on-chain and cannot be arbitrarily modified by project developers.
Potential OCF applications include:
- Bitcoin Native DeFi: Swap, Lending, etc.
- Bitcoin Native Games
- Bitcoin Native Social Apps
- ERC404-like protocols natively on Bitcoin
More technical information on docs.compos.io/
More:
For instance, combining BRC-20 asset inscriptions with OCF logic inscriptions within the Compos Protocol framework unlocks features like native X-To-Earn on the Bitcoin blockchain. This integration enables the creation of tokens with embedded logic, allowing for conditional fair launches where users must perform actions (X) to inscribe the token. This new method of distributing tokens, which requires user engagement or participation (such as playing or socializing), exemplifies the concept of X-To-Inscribe.
The role of OCF (On-Chain-Function) is a crucial part of the Compos Protocol to achieve native X-To-Earn capabilities on the Bitcoin network, in which you can write smart contracts using Rust and deploy to CVM, a virtual machine we implemented using WASM on Bitcoin.
Compos Protocol can integrate different protocols with logic inscriptions in the BTC ecosystem. With our initial rollout, Phase 1 will support BRC-20. Further down the road, Phase 2 will support Ordinals NFT.
Phase 1: BRC-20 + OCF = BRC-20A
Phase 2: Ordinals NFT + OCF
Phase 3: Runes + OCF
Here's an example of a BRC-20A inscription:
Compos Inscription has the following components:
Part 1 refers to a BRC-20A deploy inscription that defines a raffle function.
Part 2 refers to a BRC-20 inscription of minting ticker abcd with an amount of 1000.
Part 3 refers to an OCF inscription that calls the function raffle and passes params of ["a"].
The whole Compos inscription is valid if the called function returns true, and therefore, minting the abcd token requires calling raffle with the proper params.
#partner #partnership #NFA #DYOR
Bitcoin is the world's largest and most secure blockchain.
If you're torn between choosing the BRC-20 or the Runes protocol to issue your tokens on Bitcoin, fret not.
Using the Compos Converter, your tokens can easily become protocol-agnostic.
"Been a long time since I had weird conviction in a coin"
"Dope. Grandma. Coin."
Wait, you meant to say "Compos Protocol", right?