What is Cy[bord] CBRC-20?

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You've probably heard a lot about it in recent days. The CybordPunks project. One of the most hyped projects right now.

CybordPunks is not just any Ordinal the project is being launched on a new efficient metaprotocol CBRC-20.

In case you are planning to buy/mint a CybordPunk, it is wise that you know more about the protocol.

I have extracted the most important information from the file for you. If you still want to read everything and do a real deep dive into CBRC-20 you can read it here.

What is Cy[bord] CBRC-20?

Cy[bord] CBRC-20 is the proposal of an efficient Metaprotocol standard for fungible tokens on Bitcoin through Ordinals. By utilizing the new metadata and metaprotocol fields introduced in ord 0.10+, which allow for arbitrary properties to be stored directly within the Inscription envelope, CBRC-20 keeps the same functional logic of the BRC-20 Metaprotocol while reducing the cost of each inscription and simplifying the indexing process.

Overview of CBRC-20 Features

• Reduced Inscription Costs: CBRC-20 lowers the cost per inscription for token deploy, mint, and transfer operations compared to BRC-20/TAP.

• Simplified Indexing: CBRC-20 provides a simple way to index the CBRC-20 Metaprotocol state due to all information being directly available in the envelope of each Inscription.

• Flexibility with MIME Types: The CBRC-20 standard allows for any MIME type to be used for deploying, minting, or transferring CBRC-20 tokens.

  • Examples:

  • Deploying, minting, or transferring any CBRC-20 token can be done by simply inscribing the number "0" as a text file, reducing the inscription cost by 10 times compared to other Metaprotocol Ordinal Token Standards.

  • Deploying a CBRC-20 token and allowing users to "mint" as part of a PFP collection, with a specific number of tokens minted on each image. These tokens can then be transferred like any other CBRC-20 token (on a new transfer inscription), without sending the image the tokens were minted on.

  • The potential applications are endless and unexplored!

  • No Limitations of Ord 0.9: Unlike previous standards, CBRC-20 is not constrained by the "freeze" of Ordinals version 0.9 and can utilize the latest features of the ord client.

What is a Metaprotocol?

Quick History of Metaprotocols

"Metaprotocol" is a term used by the Ordinals Community to describe an interactable "protocol" formalized through off-chain indexing of on-chain information, like BRC-20, SNS, Bitmap, etc. Until recently, an "Ordinal metaprotocol" was a conceptual term not officially recognized in the Ordinal client. This changed with ord v0.10, when the Ord Team introduced fields for writing metaprotocol and metadata information directly in the inscription envelopes. This update allows for the official flagging of Metaprotocols on Ordinals.

The Current Metaprotocol Situation

For Ordinal Metaprotocol token standards, the journey has been complex. To address issues arising post-ord v0.9, all BRC-20 indexers have decided to "freeze" on ord v0.9 for BRC-20 indexing. This means that BRC-20 cannot leverage the "metaprotocol" or "metadata" fields introduced in the latest versions of ord 0.10+, hindering the BRC-20 Metaprotocol's ability to upgrade and become more efficient. As a result, the future of BRC-20 Indexing is stuck in a state of uncertainty, despite market perceptions.

CBRC-20, on the other hand, fully utilizes both the "metaprotocol" and "metadata" field features for token data, leading to significant savings in inscription fees and blockspace. This efficiency is achieved as there are no JSON files inscribed on Bitcoin for CBRC-20, positioning it as the first "real" Ordinals Metaprotocol token standard (according to the latest rules and version of the ord client).

BRC-20 vs CBRC-20

Here are some of the key of advantages of CBRC-20 over BRC-20

• Reduced Inscription Costs:

  CBRC-20 significantly lowers the cost per inscription for token operations (deploy, mint, transfer) compared to BRC-20.

  This cost efficiency is primarily due to CBRC-20's ability to embed information directly in the Inscription envelope, eliminating the need for inscribing lengthy text or JSON files.

• A Simplified Indexing Process:
  With all token information directly available in the Inscription envelope, CBRC-20 simplifies the indexing process for token state management.

  This streamlined format is more straightforward for Indexers to handle, enhancing the overall efficiency of the system.

• Support for All MIME Types:

  CBRC-20 allows for the use of any MIME type in the deployment, minting, or transferring of tokens.

  This flexibility opens up creative possibilities for token utilization and innovation within the Ordinals framework.

• No Limitations of Ordinal Client:

  Unlike BRC-20, which is limited to the capabilities of Ordinals version 0.9, CBRC-20 leverages the latest features introduced in Ordinals version 0.10 and beyond.

  This includes the utilization of metadata and metaprotocol fields, allowing for more advanced and efficient token standard development.

• Innovative Token Interaction Possibilities:

  CBRC-20's approach enables unique token interactions, such as minting tokens on images for PFP collections or deploying tokens using simple numerical inscriptions.

  This opens the doors to new types of practical applications and versatility of token standards on the Bitcoin blockchain.