Wealth Crypto NRC-20’s first token neat
What is NRC-20
NRC-20 is a new type of token standard inspired by Bitcoin BRC-20, and NEAT is the first NEAR inscription homogeneous token based on this standard, specifically by integrating the inscription’s transaction information. Written and implemented in the FuncCall arg parameter of NEAR. Regarding the inscription implementation of NEAR, taking NRC-20 as an example, if you want to perform NRC-20 operations, you need to first encode the operation content into a JSON object according to the NRC-20 standard, such as {"p": "nrc-20", " op": "mint", "tick": "neat", "amt": "10000"}. Then send this content to the inscription.near address. During this process, the blockchain itself only records the message, but does not produce any changes in the contract status.
The difference between NRC-20 and BRC-20
The main differences between NRC-20 and BRC-20 are:
NRC-20 is the inscription token standard on the NEAR blockchain, while BRC-20 is the token standard on the Bitcoin blockchain.
NEAT records the inscription information on the NEAR chain through function calls. BRC-20 uses the concept of inscriptions in the Ordinals protocol to assign each satoshis (the smallest unit of Bitcoin) by manually modifying the content in the Bitcoin storage file. "Cong") has different meanings.
What NRC-20 means for NEAR
Reduce the storage fee on NEAR: 100kb of on-chain storage requires approximately 1 NEAR. The emergence of NEAR inscription can reduce this fee to one percent or even lower than before.
It took the lead in establishing a set of NEAR ecological inscription standards, paving the way for the subsequent emergence of a large number of homogeneous and non-homogeneous inscription products.
Improving the cost of reserving storage fees for using tokens is expected to help NEAR users save millions of dollars in large-scale token usage scenarios in the future.
Because it has caught up with the recent inscription craze, it has attracted a large number of new users to NEAR. At the same time, it has generated a large number of transactions in a short period of time and repeatedly broken records, which is an endorsement of the excellent performance of the NEAR blockchain.
