Anti-Fraud Smart Network (Sat20)!!!
The underlying architecture of Bitcoin determines that its network struggles to implement complex smart contracts and cannot support functionalities similar to the Ethereum Virtual Machine (EVM). Over the years, many tech experts have attempted to realize smart contracts on Bitcoin, but none have succeeded, which is also the main reason why Vitalik Buterin developed Ethereum.
The early attempts to issue tokens on the Bitcoin network were colored coins (over 400 at one point), which embedded up to 80 bytes of metadata in transactions using the OPRETURN opcode to record token ledger information. For example, Tether's USDT, issued based on the Omni protocol, is a typical application of colored coins. The OPRETURN data does not affect Bitcoin's UTXO (Unspent Transaction Output) model and is merely stored as metadata on the blockchain. However, Bitcoin miners only verify the validity of transactions and are not responsible for the logical correctness of the OP_RETURN ledger. On regular Bitcoin block explorers, USDT's asset and transfer information are not visible; this information must be viewed through a dedicated explorer maintained by Tether. The operation of USDT relies on Tether's trust and is unrelated to Bitcoin's decentralized mechanism; Tether merely uses the Bitcoin network for bookkeeping.
In early 2023, the emergence of the Ordinals protocol and BRC-20 involved assigning a unique serial number (Ordinal Number) to each Satoshi and utilizing SegWit’s witness data to store inscriptions. The inscription data is embedded in the witness data's OPFALSE OPIF … OPENDIF script, recording token information (such as the name and total supply of BRC-20) in JSON format. Like Omni, the Ordinals ledger is essentially still a "message," similar to OPRETURN, relying on third-party tools (like Unisat, Ordinals Wallet) for parsing and maintenance. Bitcoin miners only ensure that transactions are recorded on-chain and do not verify the logical correctness of the inscription ledger. Ledger maintenance depends on third-party nodes or services; if the service stops, Ordinals or BRC-20 assets may disappear. Although users can run full nodes to traverse blocks and reconstruct the ledger, this ledger lacks the native trust guarantees of Bitcoin's UTXO, making it neither accurate nor secure. The security of layer-two assets is entirely unrelated to Bitcoin's decentralized characteristics; it is purely a confusion of concepts!
As for the Lightning Network, it is even more centralized. Simply put, it is like playing Mahjong without paying but just keeping score, and settling accounts uniformly after the game. This is very unsafe; it essentially achieves fast transactions through off-chain channels, with periodic on-chain settlements. Participants record transaction statuses in the channel, similar to "keeping accounts," ultimately settling through the Bitcoin main chain.
The problem is that off-chain transactions depend on the online status and honesty of the participants. If one party acts maliciously or goes offline, it may lead to financial losses, and the ledger may disappear before being recorded on-chain.
As for the so-called Anti-Fraud Smart Network (Sat20), it is just a rebranding of the same old thing, utilizing an opcode (Opcode) OP_CAT from Bitcoin's script language, which pops the top two elements from the stack, concatenates them in order to form a new element, and pushes the concatenated element back to the top of the stack. This combination capability is used for ledger management, thereby achieving Ethereum's functionalities.
OPCAT could pose many potential dangers to the BTC network; it was removed by Satoshi Nakamoto on August 15, 2010 (due to potential denial-of-service (DoS) risks). In recent years, some Bitcoin communities have proposed re-enabling OPCAT, with BIP number: OPCAT being named BIP-347. By May 2024, OPCAT has gone live on the Bitcoin testnet Signet, allowing developers to test advanced applications on CatVM.
No matter how the Anti-Fraud Smart Network (Sat20) community uses obscure technical terms to mislead, it does not change the fact that it is centrally maintained. Bitcoin miners are not responsible for the ledger formed by the connection codes of the Smart Network (Sat20). Simply put, it has nothing to do with Bitcoin; its ledger relies on third-party parsing and is unrelated to Bitcoin's native security. Claiming that OP_CAT can enable Bitcoin to achieve Ethereum functionalities is an exaggeration and is purely misleading to the uninformed public!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
