📖Introduction

Mineral is a new Ordinals meta-protocol - introducing MRC721s and MRC20s!

What is Mineral?

Mineral is an innovative Ordinals protocol on the Bitcoin blockchain with two new meta-protocols: MRC721 and MRC20. The Mineral protocol is inspired by BRC20 and committed to spreading Bitcoin mining culture.

Overview

The Mineral protocol introduces two assets: MRC721 (NFT mining machines) and MRC20 (similar to BRC20s but with a unique distribution method). Currently, BRC20s must be minted by users inscribing a "mint" inscription. With the mineral protocol, users instead mint MRC721s (NFT mining machines) which then passively generate MRC20s each block to holders - significantly reducing expensive inscription costs. SatMine has built a custom indexer to track all MRC20 token generations and balances, and will open a native marketplace for the trading of these assets.

MRC721 mining machines passively generate MRC20s

Spreading Mining Culture

SatMine's team has a heavy background in Bitcoin mining. We wanted to add a Bitcoin mining inspired twist to the Ordinals/BRC20 ecosystem, so we devised the Mineral protocol as a novel and interesting way to distribute tokens. Each MRC721 can be compared to a bitcoin mining machine which constantly produces new MRC20 tokens. Like Bitcoin, each MRC20 has a max supply.

Empowering Decentralized Communities

We view the Mineral protocol as an effective way to provide decentralized communities with a way to fairly distribute tokens to their members. These mined MRC20s can be viewed as meme tokens, governance tokens, or utility tokens - with their meaning up for each community's own interpretation. SatMine will be partnering with creators to generate their own MRC721 mining machines.

Conclusion

The Mineral protocol stands as a testament to the evolution of the Bitcoin ecosystem, introducing lightweight mining scripts and second-layer network protocols. By blending traditional Bitcoin mining practices with innovative token economics, Mineral paves the way for a decentralized future where users actively participate and define the culture of their communities.