What is an inscription

The inscription is a Satoshi (satoshi engraved with Metadata on the Bitcoin network. Satoshi is the smallest unit of Bitcoin, and each Satoshi has a unique ordinal number. The inscription can be any string, such as a picture, text, code, etc. Inscriptions can give Satoshi uniqueness and scarcity, making it a Fungible Token (Non-fungible Token). Inscriptions can also be used to issue Fungible Tokens (FTs), such as the BRC-20 protocol, which is a Token Standard based on inscriptions. 12
The concept of inscription was first proposed by the Ordinals protocol, which is a system for numbering and inscribed BitcoinSatoshi. The 3 Ordinals protocol leverages custom character fields in Bitcoin transactions to append Non-fungible Token information to unused transaction outputs (UTXOs). 4 Inscriptions have the same durability, immutability, security, and decentralization as Bitcoin. 5
It has been almost a year since the inscription first entered the public eye around March 2023, during which many well-known inscription projects have been born, most of which come from the origin of the inscription - BTC ecology, such as ORDI, SATS, etc., and its Market Cap in the crypto market has entered the top 100.
However, at present, in addition to speculation and transaction value, these inscriptions do not yet have actual functional value, which is the current flaw of the inscription market, however, it is also where the opportunity lies, with the eyeball effect brought about by the inscription wealth effect, more and more people have begun to pay attention to and start with the inscription, at the same time, more and more public chain ecology has also begun to enter the inscription ecology, I believe that the second half of the inscription will have more rich gameplay and value emerge.