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BIM - Bitcoin Inscription Marketplace

The protocol may change in the future! Do not build anything that you may lose money on using this protocol yet until it is in a more completed state. I am not responsible for any lost funds.

Why use BIM over Ordinals

  • BIM doesn't need a wallet that provides satoshi control
  • BIM makes selling, auctioning and other marketplace functions 100% decentralised, apart from letting others mint an inscription in a collection.
  • Collections
  • You can add BIM data to any transaction that you make, saving on tx fees
  • If you can think of more, please create an issue!

Disadvantages of BIM (compared to Ordinals)

  • Higher transaction fees, if only transacting BIM data, or if compression doesn't reduce file size
  • If you can think of more, please create an issue!

Explanation of how BIM works

BIM uses a technology used in Bitcoin called SegWit. In simple terms, SegWit puts signature data outside of the main part of the transaction, to save block space. This allows a higher amount of data to be stored in a block, to be specific, up to 4mb. SegWit also allows any data to be stored in the extra space. This is where BIM information is stored.

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