Bitcoin Stamps are a type of digital collectible that is stored on the Bitcoin blockchain. They are created using the Counterparty protocol, which allows for the creation of assets and tokens on top of the Bitcoin network.
Bitcoin Stamps are created by encoding an image into a Base64 string and then storing that string in a Counterparty transaction. The transaction is then broadcast to the Bitcoin network and, once it is confirmed, the Bitcoin Stamp is created.
Bitcoin Stamps can be bought, sold, and traded on a variety of exchanges and marketplaces. They can also be used to create other types of digital assets, such as non-fungible tokens (NFTs).
Bitcoin Stamps have a number of advantages over other types of digital collectibles. First, they are stored on the Bitcoin blockchain, which is a very secure and decentralized network. Second, Bitcoin Stamps are relatively easy to create and transfer. Third, there is a growing community of collectors and traders who are interested in Bitcoin Stamps.
Here are some of the things that you can do with Bitcoin Stamps:
- Collect them as digital art
- Use them to create other types of digital assets, such as NFTs
- Trade them for other Bitcoin Stamps, cryptocurrencies, or fiat currencies
- Use them to pay for goods and services from merchants who accept Bitcoin Stamps
There is only one layer 1 chain marketplace selling Bitcoin Stamps,
- RareStamp.xyz: This is a marketplace dedicated to Bitcoin Stamps. It allows you to buy and sell individual stamps and collections.
There is only one layer 2 chain that are supporting Bitcoin Stamps,
- Emblem Vault is a non-custodial Bitcoin Stamps vault that also supports wrapping Bitcoin Stamps on Ethereum and Polygon. It was launched in April 2023 and is still under development.
My proposal
Bitcoin Stamps hasn’t gain as much traction as ordinals did but it is currently getting some fud in regards to inscription numbers. I propose that we build a bridging platform for Bitcoin Stamps on Rootstock. This would allow Bitcoin Stamp collectors and traders to benefit from the advantages of both platforms, including:
- The security of the Bitcoin blockchain
- The smart contract functionality of Rootstock
- The ability to trade Bitcoin Stamps on a variety of marketplaces
Benefits
There are a number of benefits to building a bridging platform for Bitcoin Stamps on Rootstock:
-
Increased liquidity: The Bitcoin Stamp market is relatively illiquid. By bridging Bitcoin Stamps to Rootstock, we can increase the liquidity of the market and make it easier for people to buy and sell Bitcoin Stamps.
-
Wider reach: Rootstock is a growing ecosystem with a number of decentralized applications (DApps) and marketplaces. By bridging Bitcoin Stamps to Rootstock, we can expose Bitcoin Stamps to a wider audience of potential buyers and sellers.
-
New features: Rootstock smart contracts can be used to create new features and functionality for Bitcoin Stamps. For example, we could create a marketplace where Bitcoin Stamps can be traded for other cryptocurrencies or fiat currencies. We could also create a system where Bitcoin Stamps can be used to access exclusive content or services.
For more information about STAMPS Protocol, please visit the project’s GitHub page at https://github.com/mikeinspace/stamps/blob/main/README.md .