#区块链协议与网络更新 analyzed the operational logic of PING, finding many similarities with last year's Bitcoin inscription craze. Essentially, both utilize a model of on-chain legitimate data combined with off-chain interpretive rights. PING uses x402scan as an indexer to scan USDC transfers on the Base chain and determine valid minting, which is strikingly similar to the mechanism used by the Ordinals protocol to determine BTC inscriptions.

From a development trend perspective, PING is likely to trigger a wave of enthusiasm similar to inscriptions. Although there are currently issues such as asset custody, it provides practical application scenarios and stress testing for the x402 protocol, which will undoubtedly promote further development of the ecosystem. More improved versions are expected to emerge in the future, addressing the current shortcomings.

The recent explosion of PING can be seen as a starting point for the x402 narrative. Although there may be risks in the short term, this emerging track is worth close attention in the long run. It is recommended to maintain a rational attitude and moderately participate in the opportunities within.