Source: DODO Research
This week's crypto market rebounded strongly after Fed Chairman Powell issued a clear interest rate cut instruction at Jackson Hole, with Bitcoin leading a group of altcoins to usher in a rare general rise in August.
Bitcoin-related concepts have always been the biggest catalyst in this cycle. After the launch of BTC ETF, various tokens and projects on the Bitcoin chain ecosystem were ignited. This week's CryptoSnap Dr.DODO will also introduce Bitcoin-related projects. Fractal Bitcoin, which has been in full swing in the test network public beta recently, let Dr.DODO take you to see what Fractal Bitcoin is.
Fractal Bitcoin was born out of the long-standing scalability problem of the Bitcoin network. With the popularity of Bitcoin, the surge in network transactions has led to longer transaction confirmation times and higher handling fees. For many years, the Bitcoin community has been seeking solutions to this problem, such as second-layer solutions such as the Lightning Network. However, these solutions often require additional infrastructure or complex operations.
Against this backdrop, the UniSat team came up with the concept of Fractal Bitcoin, with the goal of creating an expansion solution that can be seamlessly integrated into the Bitcoin ecosystem, without requiring major changes to the Bitcoin core protocol, while significantly improving network performance.
Fractal Bitcoin is inspired by fractal geometry, and improves transaction processing capacity and speed by recursively creating infinite expansion layers on the Bitcoin main chain, while maintaining full compatibility with the existing Bitcoin ecosystem. Its core idea is to use Bitcoin's own core code to create a tree-like expansion structure, with each layer being able to expand further, thereby significantly improving the parallel processing capabilities of the entire network.
Core Technology: Using Bitcoin core code, directly leveraging the security and reliability of the Bitcoin blockchain.
Extension method: Create a tree structure through recursive extension layers to increase the parallel processing capacity of the entire network.
Performance improvement: Block confirmation time is about 30 seconds, and the transaction processing capacity is 20 times that of the Bitcoin main chain.
Compatibility: Fully compatible with existing Bitcoin wallets, tools and miner equipment.
Mining method: Supports two methods: permissionless mining and merged mining.
Security: All transactions can ultimately be traced back to the Bitcoin main chain to ensure security and verifiability.
Dynamic adjustment: The number of extension layers can be automatically adjusted according to the degree of network congestion.
Fractal Bitcoin's ecosystem is developing rapidly, and many promising projects have emerged:
UniWorlds: A metaverse project built on Fractal Bitcoin that provides customizable virtual space.
InfinityAI: An AI project that provides testing tasks and points rewards.
Satspumpfun: A copycat of the pump.fun coin issuance platform on Fractal Bitcoin.
Motoswap: A DEX project on the Fractal Bitcoin chain.
Although the Fractal Bitcoin mainnet has not been officially launched, many of the above projects have been deployed on the testnet and are available for player testing. There are also many test tasks on InfinityAI to help players familiarize themselves with on-chain operations.
Fractal Bitcoin is currently in the testnet stage. You can go to the official faucet website to claim test tokens, or mine through the testnet. Fractal Bitcoin uses the same PoW consensus mechanism as Bitcoin. BTC miners can seamlessly switch to Fractal block mining with current ASICs, GPUs, and other existing hardware. It also provides an original merged mining mechanism, Cadence Mining, which combines the two mining modes of permissionless mining and merged mining. Every 3 blocks is a cycle, of which 2 blocks are generated through "permissionless mining" and 1 block is generated through "merge mining".
Permissionless mining: allows anyone with the right tools and hardware to mine Fractal blocks, similar to how BTC is mined.
Merged mining: specifically for BTC miners, allowing miners to mine BTC blocks and Fractal blocks at the same time without taking up additional computing power.
According to the official website, the mainnet will be officially launched in September.
Fractal Bitcoin is expected to significantly improve the transaction efficiency of the Bitcoin network. Through its innovative recursive expansion layer structure, Fractal Bitcoin can greatly increase transaction speed and processing power, which can not only improve user experience, but also open up new application scenarios for Bitcoin in daily payments and micro-transactions.
In addition, Fractal Bitcoin provides developers with a broader space for innovation. Due to its compatibility with the Bitcoin core code, developers can explore new possibilities within a familiar technical framework, thereby promoting innovation in the entire Bitcoin ecosystem.
The biggest highlight of Fractal Bitcoin is definitely that it comes from the Unisat team, which is jointly invested by Binance and OKX. The performance of the Unisat team in the brc20 trading market is beyond the reach of all other products. In addition, its previously issued token asset $PIZZA also performed well in terms of currency price and won the praise of many retail investors.
But putting aside the team halo, the author does not see any obvious advantages of Fractal Bitcoin over other Bitcoin-based public chains in the project documents or official website. The author believes that the project party has many shortcomings in introducing the basic knowledge of Fractal Bitcoin. For example, the documents and official website are too simple and do not disclose the details of Fractal Bitcoin's operation. The general content of the documents is to explain how to use Fractal Bitcoin but not to introduce the operation of Fractal Bitcoin itself.
In addition, whether Bitcoin really needs a public chain to achieve functionalization, the author believes that there is still no such demand. Before Fractal Bitcoin, many Bitcoin L2 public chains have been launched, such as Merlin, B² Network, etc., but none of them have been favored by real players. Most assets are only in the airdrop mining stage. Most players on the Bitcoin ecological chain do not need complex functions, but only hype the concept of Bitcoin chain assets.
Of course, since Fractal Bitcoin does not adopt the L2 form in terms of architecture, but self-POW mining is more like a side chain, it may be able to use the participation of miners to prevent its popularity from dying out in the light of day once it goes online.
The author also expects Fractal Bitcoin to play a different way from other public chains, whether it is the Ethereum Defi ecosystem or the new token issuance gimmicks such as Brc20 and Rune on native Bitcoin.
Fractal Bitcoin is an innovative blockchain expansion solution based on recursive virtualization technology that enhances Bitcoin's scalability by creating a multi-layer network structure while maintaining a secure connection to the main network.
JinseFinanceI suggest that our readers pay more attention to holding on to the Bitcoin and Ethereum in their hands. If it is not a must-buy or a project that you like very much, you should be cautious when making a move.
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