Inscriptions Registries

BITE aims to be a fully upgradeable protocol that won't require hard forking and will have all the necessary tooling built in from the start. We strive for a straightforward architecture that allows the functionality to change without upgrading the underlying protocol code. We have taken inspiration from existing upgradeable smart contract architectures to achieve this.

We aim to have a single inscription that we will hardcode into the protocol to direct the execution flow for the rest of the application. Leveraging parent-child tokens, we will have one Inscription listing all the registries detailing information about either vaults, governance, or execution flows.

Registry high-level flow

Let's break down the image above. In the first instance, we have a protocol called "Entry Inscription"; it lists all the protocol functionalities and, more importantly, indicates the network on how to find them. In this case, we are showcasing, for the sake of simplicity, Three elements only:

• Merkle Tree Vault (mtVault)

• Governance Flow( gFlow)

• Vault Flow (vFlow).

The governance flow will be discussed in more detail in the following page:

For this explanation, we will focus on the other two options, mtVault and vFlow. They are two very distinct but important pieces of the protocol. One manages the state directly, and the other acts as the orchestrator for the order in which code should be executed while pointing at the code to execute. This allows us to elegantly delegate all code execution information to the Bitcoin blockchain so we don't have to depend on protocol upgrades that involve downloading a new client whenever we want to upgrade. Instead, The protocol will go through a governance process that will update the ordinal pointers to direct the network to run the updated code.

This Architecture mimics very closely the one in upgradeable smart contracts. This allows us to have a simple and robust way to allow users to download and verify the code without having to rely on upgrading the protocol the nodes are running.