Lets learn about something new because we are doing several transaction regarding deposit crypto via USDT (ERC) and USDT (BRC) between the crypto wallet and exchanges
Ethereum’s ERC-20 tokens, BRC-20 tokens have their own mechanisms and functionalities.
ERC-20
📢 ERC-20 is the token standard for creating tokens on the Ethereum blockchain.
BRC-20
📢 BRC-20 tokens are still in their early stages, and users should proceed with the utmost caution.
📢 Bitcoin BRC-20 standard is still in its early stage and has not yet been officially approved.
So, I have sharing some interesting difference between BRC-20 and ERC-20 Tokens
BRC-20 standard, as it allows seamless integration of Bitcoin Ordinals and BRC-20 tokens into the Bitcoin blockchain.
Difference between BRC-20 and ERC-20 Tokens
BRC-20 tokens and ERC-20 tokens are quite different from each other. Here’s a quick breakdown:
BRC-20 Tokens:
👉🏽 They belong to the Bitcoin network.
👉🏽 They don’t support smart contracts, so their functionality is limited.
👉🏽 The total market cap is around $450 million.
👉🏽 They use the Proof-of-Work (PoW) consensus mechanism.
👉🏽 You can track them using Ordiscan, which monitors BRC-20 Ordinals and inscriptions.
ERC-20 Tokens:
👉🏽 These are part of the Ethereum network.
👉🏽 They support smart contracts, making them more versatile.
👉🏽 The total market cap is over $150 billion.
👉🏽 They use the Proof-of-Stake (PoS) consensus mechanism.
👉🏽 Etherscan is used to track these tokens.
In short, BRC-20 tokens are linked to Bitcoin and are less functional, while ERC-20 tokens are linked to Ethereum and are more advanced.
