Understanding Bitmap Rarity

Bitmap Theory revolves around the representation of Bitcoin's on-chain data and social attributes (aka "Blocktributes") that carry utility within in the Bitmap ecosystem. As such, the rarity of a Bitmap can be determined by it's on-chain data rank (when compared to other blocks) and the scarcity of the blocktributes it holds.

Bitmap Traits

In it's simplest form we can categorize Bitmap traits as:

1. On-chain data

2. Blocktributes

On-chain data consists of block and transaction data stored immutably on the Bitcoin blockchain. Bitcoin contains is a wide variety of publicly available data, all of which can be accessed from any full node. To read more about Bitcoin's on-chain data see the Bitcoin developer documentation.

Blocktributes can be described as "social consensus traits". These traits have been determined valuable by the Bitmap community and have social origin. Examples of these traits include:

• Patoshi

• Billionaire

• Bitmap Punk

• Sub 100k

To learn more about blocktributes read this standard put fourth by members of the Bitmap community.

Rarity Calculation Formula

The total rarity score for a Bitmap can be defined as the sum of rarity scores for each of it's traits. The rarity of a single on-chain trait can be calculated using this formula:

[Rarity Score for an On-chain Trait] = 1 / (1 - [Percent Rank])

Each Bitcoin block has many different on-chain datapoints which rarity can be derived from. The below traits have been selected as "main traits" as they are key components of a Bitcoin block. These traits are widely used in bApps including bitfeed.live which uses them in part to render block visualizations.

• Total out

• Total size

• Transaction count

• Average fee rate

In addition to on-chain traits, blocktribute traits must also be considered when determining rarity. Similar to most Digital Artifact collections, blocktribute rarity can be determined by the number of blocks with that trait. The rarity score for a single blocktribute trait can be calculated using this formula:

[Rarity Score for a Blocktribute Trait] = 1 / ([Number of Blocks with that Trait] / [Total Number of Bitcoin Blocks])

See Blocktributes for a detailed list of definitions.

Submit blocktributes to be included on bitmap.community here.

Summary

• Bitmap traits consist of on-chain data and blocktributes

• The rarity of on-chain data can be calculated using percent rank

• The rarity of blocktributes can be calculated based on scarcity

• Total Bitmap rarity is the sum of rarity scores for the total_out, size, avg_fee_rate and transaction_count traits plus additional bonuses for blocktributes (varied by scarcity)