The Revival of Encryption Technology and Culture: The Rise of Social Inscriptions

The value consensus of digital currency originates from its unique cultural foundation. Value consensus is essentially a Meme phenomenon; Bitcoin, as the earliest and largest cryptocurrency Meme, successfully achieved self-launch by embedding core cultural ideas into the genesis block.

Returning to on-chain cultural dissemination and the spirit of decentralization is a viable path to recreate the spontaneous rise of Bitcoin. The emergence of inscriptions such as Ordinals and Sats directly embeds cultural symbols into the Bitcoin network, marking a renaissance in the Bitcoin ecosystem. In the future, closely integrating encryption culture with technology through on-chain content is likely to become an important direction for the development of inscription technology, achieving a deep binding of encrypted assets and culture.

Value Consensus and the Meme Phenomenon

Consensus can be divided into two types: technical route consensus and value orientation consensus. Having only technical consensus is not enough to support a strong value consensus. Taking EOS as an example, although the technology is advanced, it ultimately struggles to maintain its valuation due to the lack of effective value consensus. In contrast, the pure meme coin Dogecoin, despite lacking technical advantages, has achieved a high valuation through strong cultural consensus.

The process of reaching a consensus on value is essentially the process of forming a Meme. The value bootstrap of Bitcoin, from nothing to something, relies on the questioning of centralized currency and the dissemination of decentralized concepts. The news headline in the genesis block became the seed for spreading this value concept.

Almost all cryptocurrencies cannot escape the Meme attribute. Even utility tokens have a Meme component in their value. The long-term trend of coin prices largely depends on the effectiveness of the dissemination of the cultural ideas behind them. Only long-term steadfast believers and holders are the true support for the value of the tokens.

Content On-Chain: Capturing Native Attention

In an era of information overload, attention has become a scarce resource. Traditional media and Web2 platforms compete for user attention in various ways. Although on-chain content may seem dull, it is more likely to attract the attention of specific groups due to its close relationship with wealth.

Compared to Web2, on-chain content has the following advantages:

1. Yield-oriented attention collection: On-chain content is directly linked to assets, making it easier to attract investor attention.
2. Closed traffic environment: On-chain users are relatively focused and not easily distracted by other content.
3. Deep coupling of content and assets: ensures relevance and precise reach.

Therefore, on-chain content poses a challenge to Web2 in terms of value orientation and user accuracy. The success of Bitcoin in spreading cultural concepts through the genesis block is a model of content on-chain.

Social Inscription: The Renaissance of Bitcoin

Social inscriptions provide more on-chain space for showcasing unique cultures by expanding the properties of inscriptions. It inherits the innovative use of inscription in Bitcoin's script space while focusing on community cultural development, representing the fusion of encryption culture and technology.

The advantages of social inscriptions are:

1. Can carry richer cultural content
2. Deeply Binding Assets and Community Culture
3. Exploring the Possibilities of On-Chain Social Graphs

Although constrained by the scarcity of resources on the Bitcoin chain, social inscriptions have opened up new paths for building Memes. In a bull market environment, this innovative mechanism is expected to gain market favor.

Overall, social inscriptions represent a renaissance of the Bitcoin ecosystem, inheriting and developing the early successful experiences of Bitcoin. It closely integrates encryption technology with culture, providing new possibilities for building a stronger value consensus.