SPL-20 tokens are revolutionizing the world of decentralized digital art by bringing a new level of on-chain storage to NFTs. Drawing inspiration from Bitcoin's BRC-20 standard, SPL-20 introduces inscriptions that allow for direct on-chain storage of digital art on the Solana blockchain. In this tutorial, we'll guide you through the process of minting SPL-20 tokens and explore the unique features that set them apart.
Understanding SPL-20 and Inscriptions
SPL-20 tokens utilize inscriptions, which are unique Solana addresses containing images stored directly on the blockchain. This is a departure from traditional NFTs that store their art on third-party services. The concept of SPL-20 draws inspiration from BRC-20, Bitcoin's experimental standard for creating fungible tokens.
Inscriptions are ranked by their chronological order, similar to Bitcoin Ordinals, creating a sense of urgency and encouraging users to inscribe on-chain.
How SPL-20 Works Under-the-Hood
Inscription Process:
- An inscription is a Program Derived Account (PDA) associated with an NFT.
- It stores arbitrary binary data, such as images or serialized JSON metadata, in an array.
- Due to transaction size limits, the array may need to be populated over multiple transactions.
Minting SPL-20 Tokens:
- SPL-20 uses Solana tokens along with inscriptions to mimic Bitcoin's BRC-20.
- Each operation (mint) is an NFT mint, with the associated JSON inscribed into the NFT.
- Validators, such as those provided by Libreplex, can be used to check the validity of SPL-20 tokens.
Validator Tools:
- Validators help ensure the validity of SPL-20 tokens.
- They prevent the minting of invalid tokens, such as exceeding the specified token supply.
Validation Example:
- Libreplex offers validators to check the validity of your SPL-20 tokens.
- Be cautious when minting to avoid rug pulls or mistakes.
Minting Your Own SPL-20 Tokens
Use Solscribe.io:
- If you're eager to create your own SPL-20 tokens, try the tool at Solscribe.io by LaunchMyNFT.
Exercise Caution:
- Validity in SPL-20 tokens is specific and arbitrary.
- Ensure you fully understand the process to avoid mistakes.
SPL-20 Tokens and Digital Art
- SPL-20 inscriptions are unique Solana addresses that store images directly on the blockchain.
- Storing art on-chain ensures integrity and longevity, free from external data storage limitations.
Additional Insights from Helius Labs
Immutable Images:
- On-chain art is immutable, ensuring its long-term integrity.
- Mutability allows for new use cases like native trait swapping or day/night cycles for gaming NFTs.
Update Authority:
- Users must hold update authority to inscribe an SPL-20, ensuring creators control the inscription process.
- Prevents holders from inscribing a different image without proper authority.
Powered by LibrePlex:
- SPL-20 inscriptions are powered by LibrePlex, a dedicated collection of contributors and teams across the Solana ecosystem.
- LibrePlex emphasizes an open-source framework and a zero-mint tax policy for accessible NFT platforms.
Conclusion
SPL-20 tokens, with their dynamic rendering and on-chain media support, offer a richer, more interactive digital art experience. By following this guide, you can explore the fascinating world of SPL-20 tokens and contribute to the decentralized future of digital art on the Solana blockchain. Exercise caution, stay informed, and enjoy the limitless possibilities of SPL-20!
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