So we have reached the stage with Sinosignias and the Sino Amazons where all the product elements are ready and we are looking at the implementation side.
The Sinosignia is off the Handshake Blockchain, so it is as secure as a Bitcoin is.
Imagine a specific Bitcoin that is not on a Centralized Exchange. It’s owner downloaded it to a hardware wallet. Imagine in a moment of emotion, they threw that hardware wallet in a fire and burnt the book where they had their seed phrase.
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Imagine the next day they were unlucky and got involved in a tragic and fatal accident.
Try to steal that specific bitcoin. This is how hard it is to steal a Sinosignia!
The Sino Amazon (artwork) side of the product therefore does not need to be so secure, because the product pair is anchored in the Sinosignia. Any tokenization solution will do as long as it is cheap and fast.
So we have been looking at options for a good while, and the leaders in the field so far have been Optimism and Solana.
9ja Cosmos is very vocal about the drawbacks of Eth L2s – but remember, the product does not rely on the artwork mint solution for its security. There is no bridge between both elements of the product at a technical level. They reside in different wallets.
Then along came BRC 69 which seems extremely interesting.
It’s interesting, because it promises to reduce the mint cost over BRC 20 by up to 90% through a recursive algorithm.
The nature of a recursive function is that it solves a particular problem by calling a copy of itself and solving smaller subproblems of the original problems. Many more recursive calls can be generated as and when required.
Anybody that spent at least 75% not asleep in maths class and honestly passed maths JAMB should know this.
Therefore a recursive process needs to find some common elements in the feed data in order to execute on this. I’m guessing the ‘up to’ caveat depends on how many common elements it can find.
It doesn’t take a lot more than 2 brain cells to look at a series like the Bored Apes and immediately see where recursion can play a role, from an image rendering perspective.
My concern is that while the Sino Amazons have huge contributions from AI, and Midjourney is used as the finishing tool, there are about 4 separate AI ecosystem stages minimum, and there is organic input also, and not in the same order, or following any specific production path.
We have a variable organic end-to-end with AI input, not an AI end-to-end with some organic overview.
I’m therefore highly suspect of the claim of BRC 69 to be able to reduce the fees by 90%. Anybody that is familiar with file compression systems will understand an analogy how some types of files can be subject to huge file compression, while a compression tool can hardly reduce the size of certain other types of files at all.
How the ‘recursive’ process reduces gas fees needs more ‘down the rabbit hole’ explanations for those that are going to risk the success of a major product launch on it.
At the moment I’m not convinced of the ‘recursive’ process performance, and how variable it is.
I am also not sure it is an open protocol. Every cryptojournalist who has produced an article about it only mentions Luminex.
This is bad in two ways –
If it is a proprietary protocol, it has no ‘competitive community’ within which to encourage continuous improvement and the emergence of ‘best of breed’.
If it’s not a proprietary protocol, then the question begs – why is it so unattractive that only Luminex is the only provider with a blockchain anchor?
It’s risky when a technology is a one horse race. It’s ominous when its available to all and yet there is only one primary mover.
Engagement with Luminex has not yielded any great depth of understanding and the main engagement agenda seems to be to convert the prospect to a (refundable) deposit of $5000
They tell you, your project will go through a review and verification process.
You need to provide more documentation on your project, but there is no prescribed list that drills down to explain these expectations.
They tell you ‘the partnership can only work out after the review & verification process has been completed. Note: for the process to begin you’ll make a refundable deposit of $5000’.
Apparently there is a ‘hand holder’ assigned once you make your deposit, however, that is a bit of a mexican stand off, as what this so called ‘hand holder’ is empowered to reveal, should be what you need to know, before parting with the $5000.
9ja Cosmos has been very frugal so far in its execution on bringing products to market, and so far, $5000 would represent a major slice of cumulative items of expenditure. This would represent a significant outgoing as a single item. The promise of it being a refundable deposit holds absolutely no solace for us at all, as it would represent assets beyond reach, and therefore, all the while, not working in the best interests of 9ja Cosmos.
There does not seem to be any detailed documentation online about BRC 69 to the standard provided by the documentation on taproot upgrade or bitcoin ordinals.
If any Tekedians would like to reach out to us bringing extra visibility on BRC 69, we would be happy to receive opinions.
The Amazons are becoming impatient with me!
Thank you to those who have come out to support the new 9ja Cosmos page
We do however need the strong support of ‘Tekedians’ to move the needle forward, so more followers for the page are urgently needed.
9ja Cosmos is here…
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All reference sites accessed 10/08/2023
cnet.com/culture/internet/bored-ape-yacht-club-nfts-explained/
luminex.io
geeksforgeeks.org/introduction-to-recursion-data-structure-and-algorithm-tutorials
thedefiant.io/yield-guild-games-token-halves-in-a-day-after-500-rally
publish0x.com/hifi-finance/brc-69-standard-claims-to-reduce-transaction-costs-by-90-per-xmyqglo
decrypt.co/147270/new-bitcoin-standard-brc-69-removes-data-limit-ordinals