💡Why OP?

Introducing Ordinals X Proof-of-Work for Fair Mints on BSV

BSV Ordinals lack the energetic investment (economic cost due to Proof-of-Work) necessary for fair mints. Minting out the entire supply of a standard BRC20 on BTC can be prohibitively risky due to high cost, whereas, an identical ticker on BSV20 can be minted out for a penny, leading to less-than-fair mints. Yet, the great news is that with Ordinals backed by Proof-of-Work (OP), BSV can match and even exceed BTC's energetic investment.

Fair Mints

A fair mint relies on the publishing of an explicit rule set that specifies the work expenditure necessary to generate an asset. Essentially, to ensure fairness, the asset should be distributed in a manner that subjects everyone to the same asset generation rules.

The rules are made public through a protocol that is unchanging, while honest signaling is ascertained through the energy (i.e. work) invested in the asset. This prevents any possible manipulation by the creator and provides necessary information for adopters to assess the risk level. Satoshi's initial Bitcoin mining was fair as it followed to rules and provided the required PoW - just like any subsequent mining did thereafter.

BTC vs BSV

The substantial transaction fees paid to miners for a BTC Ordinal's inscription serves as a robust source of energy investment into the BTC Ordinals ecosystem. BSV's appeal lies in its almost free inscriptions, promoting economical testing, iteration and abundance. Yet, the negligible transaction fees take the work invested in asset generation to near-zero, thereby enabling unfair pre-minting and diminishing the honest signaling of the Ordinal asset.

OP solves this problem. Bitcoin will have the scarcity of fair-mint PoW Ordinals on a system that can effectively support the abundant transaction volume of a flourishing on-chain economy.