What is SOLS (SOLS)?

One innovative aspect of these tokens is their mutability. Contrary to the immutable nature of typical NFTs, SPL-20 tokens can be altered, allowing for dynamic changes like native trait swapping or implementing day/night cycles in gaming NFTs. This flexibility opens up new avenues for use cases in the digital art and gaming sectors. Another important aspect is their ranking system, which is based on the order of their creation, similar to Bitcoin Ordinals. This method creates a sense of urgency or FOMO (Fear of Missing Out), encouraging users to engage in the inscription process early. To inscribe an SPL-20 token, a user must possess update authority, which is usually bestowed upon the NFT's creator. This requirement ensures that control over the inscription process remains with the project owners, preventing unauthorized alterations to the inscribed image. However, the introduction of SPL-20 tokens is not without its challenges. Storing large files directly on the Solana blockchain can lead to issues like increased bandwidth requirements for validators and higher costs for infrastructure providers. Critics argue that given Solana's robust native capabilities for handling complex NFT transactions and storage, the addition of SPL-20 tokens might be unnecessary. They point out that, unlike Bitcoin, which needs BRC-20s due to its limited scripting capabilities, Solana can efficiently manage NFTs without requiring an additional layer like SPL-20. Despite these challenges, the innovation and possibilities brought forth by SPL-20 inscriptions are shaping a new future for digital art on Solana, offering a vision of secure, permanent, and fully integrated digital artworks within the blockchain network.