Overview

The Injscriptions protocol emerges as a sophisticated and resource-efficient framework dedicated to the issuance and circulation of digital assets within the Injective Chain ecosystem. Its distinctive approach involves seamlessly embedding transactional details within the Memo field of standard transfer transactions on the Injective Chain. This innovative methodology achieves a significant reduction in asset circulation costs without compromising the prevailing security standards, thereby positioning itself as a noteworthy advancement in decentralized asset management.

Memo Feature in Injective:

• Optional Message: Memo is an optional field in an injective transaction. Generally used as a note for users to send transactions. The content of Memo is included in the signature of the transaction, making the content of Memo protected by all blockchain system.

• Informational Purposes: Users often utilize the memo field to add context or information related to the transaction, such as a description of the purpose of the transaction. It can also be used to tag different types of transactions in the transaction history.

• Length Limit: Currently, Injective limits the length of the Memo field to 256 bytes. It has good support for the inscription protocol and also prevents resource abuse.

Advantages

• Cost-Efficiency: They are different from the state changes and logic checks that accompany on-chain data when smart contracts are triggered, so they consume an order of magnitude less Gas than CW20 transactions, requiring only about 100K Gas.

• Security: Memos are text. the same security model as the base blockchain.

• Simplicity: Inscription only defines a few operations such as Deloy, Mint, and Transfer. There is no efficient and complex logical processing and it is safe.