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Will the Bitcoin inscription disappear Is it really safe

Date:2024-07-10 18:38:19 Channel:Wallet Read:

In today's digital age, Bitcoin has become a hot investment target, but behind it lies a controversial question: Will the Bitcoin inscription disappear? Is it really safe? Let's explore this issue in depth.

 Security Exploration: Bitcoin Inscription Issues

The security of Bitcoin has always been a concern, and the disappearance of inscriptions may have a significant impact on the overall security of Bitcoin. The disappearance of inscriptions may be caused by technical loopholes or malicious attacks. In this case, Bitcoin transaction records may be tampered with, causing huge financial risks. In fact, hacker attacks on Bitcoin exchanges in the past have caused people to worry about the security of Bitcoin.

 Technical Guarantee: Bitcoin Security Mechanism

However, Bitcoin is not without safeguards. The Bitcoin network uses distributed ledger technology, and all transaction records are stored on the blockchain, ensuring the transparency and immutability of transactions. In addition, the computing power competition of Bitcoin mining also provides a certain guarantee for the security of the network, making it extremely difficult to tamper with transaction records.

 Risk Response: The Bitcoin Community's Response

In the face of the risk of disappearing inscriptions, the Bitcoin community is also constantly exploring solutions. For example, some blockchain technology companies are committed to developing safer blockchain technology to deal with potential inscription problems. In addition, the Bitcoin community is also strengthening network security awareness and raising users' awareness of risks, so as to jointly maintain the security of the Bitcoin network.

 Future Outlook: Bitcoin Development Trend

Although Bitcoin faces security risks, its potential in the financial field is still huge. With the continuous development and improvement of blockchain technology, it is believed that the security of Bitcoin will be further improved, and the risk of inscription disappearance will gradually decrease. In the future, Bitcoin is expected to become a safer and more reliable digital currency, bringing a new change to the financial system.

 Summary: A Bitcoin World Where Security and Risk Coexist

The inscription problem of Bitcoin is both a security risk and a development challenge. When discussing the security of Bitcoin, we need to face the risks and see the huge potential brought by Bitcoin. Only by continuously strengthening technological innovation and security awareness can we jointly create a safer and more reliable Bitcoin world.

Bitcoin's inscription may face the risk of disappearance, but we are confident that through joint efforts, Bitcoin will usher in a safer and more stable development. Let us join hands to welcome the future of Bitcoin and witness the glorious era of digital currency together!

The four most famous international exchanges:

Binance INTL
OKX INTL
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Huobi INTL
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China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


Previously, Luke, a Bitcoin client developer, said that once the vulnerability of the Bitcoin client attacks the Bitcoin network, the vulnerability must be fixed, and the Bitcoin inscription will disappear. This statement caused an uproar in the community. Although some people hold opposition, most investors are still worried about whether the Bitcoin inscription will disappear. They even doubt whether it is really safe to invest in Bitcoin inscriptions. According to current data analysis, the possibility of the disappearance of Bitcoin inscriptions is relatively small, and it is relatively not very safe. The following Bitcoin Circle editor will explain in detail. 

 Will the Bitcoin inscription disappear? 

The possibility of the Bitcoin inscription disappearing is relatively small. In the existing Bitcoin network, the more mainstream client software are: Bitcoin Core, Bitcoin
Node, Btcd, Bitprim, Bitcoin Knots. The above statement Luke is mainly to maintain the Bitcoin
Knots client. This client is currently used by the Ocean mining pool, and Luke is also the CTO of this mining pool. The Ocean mining pool is also supported by Jack
Dorsey, the former founder of Twitter. This mining pool basically has a rejection attitude towards inscriptions. So it is not surprising that Luke made such remarks.

The Bitcoin network is not determined by only one client, Bitcoin
Knots. Miners can choose their preferred version from the above client software according to their preferences and install it. Even if Bitcoin
Knots does not support inscriptions at all, as long as other clients continue to support inscriptions and are supported by the majority of miners, the inscriptions will not be eliminated.

According to current online data, there are 17,476 client nodes in the entire Bitcoin network, and only 76 of them run Bitcoin
Knots clients. It can be seen that Knots does not have an advantage in the entire Bitcoin network at all, not even a fraction. This incident may also develop to the most extreme situation: that is, the interests of developers, miners and the community cannot be coordinated at all, which eventually leads to Bitcoin fork.

After the fork, which chain will be considered the authentic Bitcoin will still be a game between each other. Whether Luke and the participants who support his views must dominate this game is also not so easy to see the result in the short term.

 Is Bitcoin inscription really safe?

Bitcoin inscriptions are not very secure, and their security remains a concern, as inscriptions rely on offline services outside the Bitcoin network for state maintenance, which may lead to the risk of asset loss. In addition, since the Bitcoin network itself does not process these inscriptions, transactions of inscription tokens may not be fully protected by the Bitcoin network.

Whether it is Ordinals NFT or BRC20 tokens, although the ledger exists on Bitcoin, the consensus rules are off-chain. Therefore, "inscription" tokens do not fully share security with Bitcoin.

As a data availability layer, the Bitcoin chain does not perform any verification on inscriptions. Valid and invalid inscriptions will be submitted, and the Bitcoin chain itself has no ability to distinguish whether the inscription is valid. Therefore, although the ledger of the Ordinals protocol is stored on Bitcoin, it is a "dirty ledger" where all valid data is stored, but not all stored data is valid. The filtering of the "dirty ledger" is done through "client verification".

This "filtering rule", or the "interpretation rule" for the validity of on-chain data, is the body of the Ordinals protocol. The "inscription" token is only safe if there is a strong social consensus on the set of rules defined by the Ordinals protocol.

All of the above is the answer to the two questions: Will Bitcoin inscriptions disappear? Is Bitcoin inscription really safe? The concept of inscription involves embedding additional data to a specific satoshi. This data can appear in various digital forms, such as images, text, or other media, and with each addition of satoshi, Bitcoin has become more secure despite the fact that data embedding has been part of the BTC protocol for some time. The identification of cybersecurity risks related to Bitcoin inscriptions highlights the challenges and vulnerabilities of continued cybersecurity in cryptocurrency networks. In addition, the potential impact of Bitcoin highlights the importance of addressing such vulnerabilities to ensure the continued stability and security of cryptocurrencies. In short, the future development of Bitcoin inscriptions is challenging.

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