#BRC20 is a new standard for fungible tokens on Bitcoin that uses Ordinal Theory to create and transfer tokens by inscribing JSON data to satoshis. BRC20 tokens are similar to ERC20 tokens on Ethereum, but they are stored on the Bitcoin base chain and do not require smart contracts. BRC20 tokens have been used to create memecoins and launch initial decentralized exchange offerings (IDOs) on Bitcoin.
