A few hours ago, Logos Network, an emerging cryptographic community, spread its cyberpunk independence manifesto through an Ordinals inscription in block 841,886 of the Bitcoin blockchain.
The registration in question marks in an irreversible way the presence of Logos and its privacy-oriented technological stack in the cryptographic space, with the targeted goal of creating a truly decentralized system.
This move anticipates the launch of an Ordinals collection of 3,333 pieces.
All the details below.
Summary
Logos Network presents its technological stack and manifesto in Bitcoin block 841,886, waiting to launch an Ordinals collection
Logos, a cyberpunk developers community born from the union of Waku, Codex Storage and Nomos Tech members, has just presented to the cryptographic world its manifesto of independence in the crypto space, through an Ordinals Inscriptions.
Logos’ technology acts as a completely decentralized technology stack, which protects privacy and is politically neutral.
The ultimate goal of the group is to support self-sovereign virtual territories, and encourage the formation of borderless public institutions based on voluntary consent.
Today at 9:34 AM GMT+2, block 841,886 of the Bitcoin blockchain was irreversibly marked by inscription 70,614,708, containing a JPEG file depicting the manifesto titled “Logos: A Declaration of Independence in Cyberspace“.
The block has a size of 3.969 MB, and was mined by this address, for a fee of just 998,216 sats (0.60 dollars).
The sat coined by adding the manifesto belongs to the year 2009, and was celebrated with the “Satributes” by Satoshi Nakamoto. The sat was identified and distinguished as mined by Satoshi himself during his first year of activity in Bitcoin.
The publication of the manifesto through the use of Ordinals Inscription anticipates the launch of a collection of 3,333 registrations, which will be inaugurated shortly.
This collection identifies Logos supporters as the first inhabitants of the technological stack, who tend to move away from the traditional internet system to embrace a completely autonomous and decentralized world.
Participants will need to complete a series of activities to qualify for a Logos Ordinals.
You can consult Logo’s cyberpunk manifesto at this link.
If you are interested in becoming part of this type of web3.0 culture, you can apply as a “high-level operator” through the following website, typing “apply” and following the subsequent instructions.
The Runes market after their launch on Bitcoin’s halving day
While Logos lays the foundations of what seems to be one of the most motivated cyberpunk communities in recent years, the Ordinals market constantly changes over time.
The act of inscriptions was born just over a year ago introducing for the first time in history the NFT on Bitcoin, but it immediately evolved with the advent of the token standard BRC-20 which allowed the creation of fungible tokens within the chain.
A few days ago, further progress was made by launching the Runes protocol, which allows tokens to be issued on the Bitcoin network much more efficiently than previous solutions by leveraging the UTXO model and the OP_RETURN code.
On the day of the halving, the Runes entered the market, causing network fees to skyrocket.
In just 7 days, approximately 135 million dollars in fees were generated, with over a third of them being realized on the day of the launch.
Just as the halving occurred, the average fees for using the Bitcoin network have even reached over 100 dollars.
It is worth noting how a user spent about 500,000 dollars to move 70 cents in a transaction, just to have priority over other individuals and be in block 840,000.
Anyway, two weeks after the launch of the Runes we can already see how the speculation FOMO has quickly evaporated.
Already in recent days it was possible to see how Rune transactions have dropped drastically below the 100,000 unit threshold, leaving room for traditional BTC transactions (good old).
Yesterday 60,000 transactions were recorded via Runes in response to 480,000 requests good old and 10,000 mixed transactions Ordinals and BRC-20.
It is worth noting how even the fees have drastically decreased: on the day of the halving, Runes commissions reached 881 BTC, while yesterday they were just 3 BTC.
