Bitcoin Stamps and SRC-20

Bitcoin Stamps and SRC-20 are the technological foundations essential for developing Bitname.

Bitcoin Stamps

Bitcoin Stamp is a protocol designed for the immutable storage of images on the Bitcoin blockchain, utilizing transaction outputs for this purpose.

Initially introduced by Mike through Counterparty, a Bitcoin sidechain protocol established in 2014, they developed a method to embed images in base64 format within transaction outputs innovatively. This process involves converting an image's binary data into a base64 string, appending this string to a transaction description key prefixed with 'Stamp:', and broadcasting it over the Bitcoin ledger via the Counterparty protocol.

Mike is recognized as the founder of Bitcoin Stamps.

SRC-20

SRC-20, a token protocol standard, is built upon the Bitcoin Stamps solution, with Kevin serving as its founder. SRC-20 transactions are executed directly on the Bitcoin blockchain, diverging from the Counterparty protocol starting from block 796,000. The minting, deploying, and transferring of SRC-20 tokens are conducted without any service charges, excluding the Bitcoin network's miner fees, when performed through a compatible wallet.