BRC-20
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Exploring BRC-20 Token Standard: A Glimpse into Bitcoin's Token Revolution. 🟠🟧🔶
In the dynamic landscape of blockchain technology, BRC-20 has emerged as a noteworthy topic, representing an experimental token standard designed for the Bitcoin blockchain. Drawing inspiration from Ethereum's ERC-20, BRC-20 introduces unique mechanisms and functions.
Creation of BRC-20 Tokens:
The journey began with the initiation of the Bitcoin Ordinals protocol in January 2023, allowing the encoding of NFTs in satoshis. By March 2023, a programmer named Domo introduced the BRC-20 token standards, enabling the creation of interchangeable tokens on the Bitcoin network. The inaugural BRC-20 token, "Ordi," quickly garnered attention, marking the onset of a new era.
How BRC-20 Tokens Work:
At the core of BRC-20 tokens lies the intricate functioning of Bitcoin Ordinals. Leveraging a systematic approach to numbering satoshis, users can incorporate additional data through a process known as "inscription." BRC-20 tokens harness JSON (JavaScript Object Notation) data in Ordinals inscriptions, facilitating the distribution, minting, and transfer of tokens.
Differences Between BRC-20 and ERC-20:
Despite the similarity in names, BRC-20 tokens inhabit the Bitcoin network, while ERC-20 is an Ethereum-based token standard. A key distinction lies in the absence of smart contracts in BRC-20 tokens, limiting their functionality compared to ERC-20 counterparts.
Future of BRC-20 Tokens:
While BRC-20 tokens currently lack interaction with smart contracts, their future evolution holds promise with increasing attention and functionality. Integration with projects like Stacks, aiming to bring DeFi, NFTs, and smart contract functions to the Bitcoin blockchain, could propel BRC-20 tokens into new realms.
Popular BRC-20 Tokens by Market Cap:
- OrdI (ORDI)
- TRAC (TRAC)
- DFUK (DFUK)
- DOMO (DOMO)
- MOON (MOON)
- NALS (NALS)
- PIZA (PIZA)
- Comsats (CSAS)
- PEPE (PEPE)
- ALEX $B20 ($B20)
#BRC20 #BRC-20 #ordinals #ORDI #satoshi
In the dynamic landscape of blockchain technology, BRC-20 has emerged as a noteworthy topic, representing an experimental token standard designed for the Bitcoin blockchain. Drawing inspiration from Ethereum's ERC-20, BRC-20 introduces unique mechanisms and functions.
Creation of BRC-20 Tokens:
The journey began with the initiation of the Bitcoin Ordinals protocol in January 2023, allowing the encoding of NFTs in satoshis. By March 2023, a programmer named Domo introduced the BRC-20 token standards, enabling the creation of interchangeable tokens on the Bitcoin network. The inaugural BRC-20 token, "Ordi," quickly garnered attention, marking the onset of a new era.
How BRC-20 Tokens Work:
At the core of BRC-20 tokens lies the intricate functioning of Bitcoin Ordinals. Leveraging a systematic approach to numbering satoshis, users can incorporate additional data through a process known as "inscription." BRC-20 tokens harness JSON (JavaScript Object Notation) data in Ordinals inscriptions, facilitating the distribution, minting, and transfer of tokens.
Differences Between BRC-20 and ERC-20:
Despite the similarity in names, BRC-20 tokens inhabit the Bitcoin network, while ERC-20 is an Ethereum-based token standard. A key distinction lies in the absence of smart contracts in BRC-20 tokens, limiting their functionality compared to ERC-20 counterparts.
Future of BRC-20 Tokens:
While BRC-20 tokens currently lack interaction with smart contracts, their future evolution holds promise with increasing attention and functionality. Integration with projects like Stacks, aiming to bring DeFi, NFTs, and smart contract functions to the Bitcoin blockchain, could propel BRC-20 tokens into new realms.
Popular BRC-20 Tokens by Market Cap:
- OrdI (ORDI)
- TRAC (TRAC)
- DFUK (DFUK)
- DOMO (DOMO)
- MOON (MOON)
- NALS (NALS)
- PIZA (PIZA)
- Comsats (CSAS)
- PEPE (PEPE)
- ALEX $B20 ($B20)
#BRC20 #BRC-20 #ordinals #ORDI #satoshi
🚀💎 BRC20 Gems: Uncover Hidden 100x Potential! 💡🌐
Crypto Adventurers, embark on a journey through the realm of BRC20 projects with explosive potential and market caps below 50 million!
🌟 Here's your guide to potential riches:
🌐 Top Picks in the BRC20 Universe:
1. 🌉 $BRGE by @OrdBridge
- 💰 Market Cap: $6 million
- 🚀 Pioneering BRC20 bridge, in development since the start of the year. More secure than $MUBI, with its token just launched today!
2. 🌕 $DOVI - L2 BTC
- 💰 Market Cap: $8 million
- 🚀 Recently launched with immense potential in the Layer 2 Bitcoin space.
3. 🌉 $wBRGE by @OrdBridge
- 💰 Market Cap: $2 million
- 🚀 Another secure bridge play, surpassing $MUBI, and freshly launched yesterday.
4. 🌐 $NHUB
- 💰 Market Cap: $2 million
- 🚀 Liquid aggregator project, creating waves in the BRC20 space.
5. 🌐 $TRVS
- 💰 Market Cap: $2 million
- 🚀 Safety wallet project securing its spot with potential for significant growth.
6. 🌍 $OKZ
- 💰 Market Cap: $5 million
- 🚀 Impressive roadmap delivery, featuring a working bridge for SOL and BTC.
7. 🎯 Sniper Bot + Launchpad
- 💰 Market Cap: $1.5 million
- 🚀 Rapidly growing project with a sniper bot and launchpad on the horizon.
8. 💎 Hidden Gems Under 5 Million:
- $BXDX, $NHUB, $STST, $TRVS, $ECH, $EVLV, $ONFI, $PSAT, $CSAS - all builders with immense potential.
9. 🚀 Big Players with Further Potential:
- $ROUP, $MMSS, $CHAX, $MUBI, $GHSY, $TRAC - still holding substantial potential for another 10x growth.
🌟 Why Now is the Time:
- 🚀 Early Entry: Get in early before these projects skyrocket.
- 💎 Hidden Treasures: Discover potential gems with strong fundamentals.
- 🌐 Diverse Portfolio: Build a portfolio with a mix of bridges, tokens, and innovative projects.
🌐 Stay Updated:
- 🌐 Follow: @TradingHeights for updates on $BRGE
- 📈 Track: Keep an eye on market caps and project developments.
🚀💰 Ready to Ride the BRC20 Wave? Your journey begins now.
#BTC #BRC-20
Crypto Adventurers, embark on a journey through the realm of BRC20 projects with explosive potential and market caps below 50 million!
🌟 Here's your guide to potential riches:
🌐 Top Picks in the BRC20 Universe:
1. 🌉 $BRGE by @OrdBridge
- 💰 Market Cap: $6 million
- 🚀 Pioneering BRC20 bridge, in development since the start of the year. More secure than $MUBI, with its token just launched today!
2. 🌕 $DOVI - L2 BTC
- 💰 Market Cap: $8 million
- 🚀 Recently launched with immense potential in the Layer 2 Bitcoin space.
3. 🌉 $wBRGE by @OrdBridge
- 💰 Market Cap: $2 million
- 🚀 Another secure bridge play, surpassing $MUBI, and freshly launched yesterday.
4. 🌐 $NHUB
- 💰 Market Cap: $2 million
- 🚀 Liquid aggregator project, creating waves in the BRC20 space.
5. 🌐 $TRVS
- 💰 Market Cap: $2 million
- 🚀 Safety wallet project securing its spot with potential for significant growth.
6. 🌍 $OKZ
- 💰 Market Cap: $5 million
- 🚀 Impressive roadmap delivery, featuring a working bridge for SOL and BTC.
7. 🎯 Sniper Bot + Launchpad
- 💰 Market Cap: $1.5 million
- 🚀 Rapidly growing project with a sniper bot and launchpad on the horizon.
8. 💎 Hidden Gems Under 5 Million:
- $BXDX, $NHUB, $STST, $TRVS, $ECH, $EVLV, $ONFI, $PSAT, $CSAS - all builders with immense potential.
9. 🚀 Big Players with Further Potential:
- $ROUP, $MMSS, $CHAX, $MUBI, $GHSY, $TRAC - still holding substantial potential for another 10x growth.
🌟 Why Now is the Time:
- 🚀 Early Entry: Get in early before these projects skyrocket.
- 💎 Hidden Treasures: Discover potential gems with strong fundamentals.
- 🌐 Diverse Portfolio: Build a portfolio with a mix of bridges, tokens, and innovative projects.
🌐 Stay Updated:
- 🌐 Follow: @TradingHeights for updates on $BRGE
- 📈 Track: Keep an eye on market caps and project developments.
🚀💰 Ready to Ride the BRC20 Wave? Your journey begins now.
#BTC #BRC-20
LIVE
koinmilyoner
--
A New Marketplace for BRC-20 Tokens Is Live on Binance!
With the debut of its inscription marketplace, the digital asset exchange Binance has made it possible for users to trade and inscribe BRC-20 tokens as well as other assets that are associated to the cryptocurrency.
The marketplace will be a one-stop solution for inscription-based tokens, according to a statement made by Binance on February 1. The release also said that the marketplace would include crucial characteristics for accessibility and security.
What are the inner workings of the Binance Inscriptions Marketplace?
The Binance Web3 wallet will serve as the host for the platform, which will allow for the inscription and trading of BRC-20 tokens inside the Binance app.
It offers a safe and pleasurable experience for everyone, from those who are already familiar with Web3 to those who are just starting out with BRC-20. "The introduction of the Inscription Marketplace is a welcome development for Binance Web3 wallet, as it enhances the journey that users take through the decentralized web with its assortment of features."
As the exchange strives to compete with its rivals, the new function offers three primary advantages: transactions that are completed more quickly, transfers that are uncomplicated, and an infinite number of alternatives.
According to the announcement, it is able to inscribe and trade 60,000 of the most popular BRC-20 tokens, in addition to facilitating transfers with a one click and reducing the amount of time it takes to conduct transactions with its accelerator.
As a Game-Changing Development for the Bitcoin Network, BRC-20
OKX, a competing cryptocurrency exchange, made the announcement this week that it will be integrating inscription token standards. This would let users to see, trade, and transfer assets that are tied to the token.
"With these enhancements, OKX Marketplace will become the largest inscriptions marketplace in the industry, offering zero-fee trading across an expanding roster of token standards," the company said. Currently, OKX wallet inscription tools are able to handle inscription mining on 23 different networks. These networks include Bitcoin, Dogecoin, Ethereum, Polygon BNB Chain, Avalanche-C, and other more.
The proliferation of inscriptions and BRC-20 tokens has caused a number of disputes over the usefulness of these assets on the blockchain. Those who favor them have pointed to an increase in knee fees, while at the same time, certain Maxis continue to be opposed to them.
Binance's research arm has just published a paper that highlights the advantages of adding inscriptions to the network in 2023, along with further indications of development.
Ordinals, inscriptions, and BRC-20 standard tokens were all significant contributors to the resurrection of the networks; nevertheless, according to the researchers, the three-tiered structure ushered in a new age for Bitcoin in the year 2023.
The outcome was an increase in price that was brought about by a jump in the number of transactions that occurred during the period of recovery from the previous bear market.
Additionally, the price of bitcoin increased by 156% during the course of the year, despite the fact that institutional inflows also contributed to the price movement. Bitcoin's market domination increased from 40.4% to 50.2%.
As a result of the introduction of Bitcoin Ordinals in February 2023, the community immediately began minting new tokens, which caused the number of transactions to reach new heights that had not been seen in months.
In the previous year, the implementation of millions of Inscriptions caused a case of network congestion, which resulted in the mempool being clogged and transaction costs increasing, which in turn led to an increase in the number of community disputes.
Ordinals, on the other hand, served as a lifeline for miners who were in a precarious financial situation during the bear market when they were attempting to climb above the seas in preparation for the subsequent halving.
#Write2Earn #TradeNTell #TrendingTopic #BRC20
The marketplace will be a one-stop solution for inscription-based tokens, according to a statement made by Binance on February 1. The release also said that the marketplace would include crucial characteristics for accessibility and security.
What are the inner workings of the Binance Inscriptions Marketplace?
The Binance Web3 wallet will serve as the host for the platform, which will allow for the inscription and trading of BRC-20 tokens inside the Binance app.
It offers a safe and pleasurable experience for everyone, from those who are already familiar with Web3 to those who are just starting out with BRC-20. "The introduction of the Inscription Marketplace is a welcome development for Binance Web3 wallet, as it enhances the journey that users take through the decentralized web with its assortment of features."
As the exchange strives to compete with its rivals, the new function offers three primary advantages: transactions that are completed more quickly, transfers that are uncomplicated, and an infinite number of alternatives.
According to the announcement, it is able to inscribe and trade 60,000 of the most popular BRC-20 tokens, in addition to facilitating transfers with a one click and reducing the amount of time it takes to conduct transactions with its accelerator.
As a Game-Changing Development for the Bitcoin Network, BRC-20
OKX, a competing cryptocurrency exchange, made the announcement this week that it will be integrating inscription token standards. This would let users to see, trade, and transfer assets that are tied to the token.
"With these enhancements, OKX Marketplace will become the largest inscriptions marketplace in the industry, offering zero-fee trading across an expanding roster of token standards," the company said. Currently, OKX wallet inscription tools are able to handle inscription mining on 23 different networks. These networks include Bitcoin, Dogecoin, Ethereum, Polygon BNB Chain, Avalanche-C, and other more.
The proliferation of inscriptions and BRC-20 tokens has caused a number of disputes over the usefulness of these assets on the blockchain. Those who favor them have pointed to an increase in knee fees, while at the same time, certain Maxis continue to be opposed to them.
Binance's research arm has just published a paper that highlights the advantages of adding inscriptions to the network in 2023, along with further indications of development.
Ordinals, inscriptions, and BRC-20 standard tokens were all significant contributors to the resurrection of the networks; nevertheless, according to the researchers, the three-tiered structure ushered in a new age for Bitcoin in the year 2023.
The outcome was an increase in price that was brought about by a jump in the number of transactions that occurred during the period of recovery from the previous bear market.
Additionally, the price of bitcoin increased by 156% during the course of the year, despite the fact that institutional inflows also contributed to the price movement. Bitcoin's market domination increased from 40.4% to 50.2%.
As a result of the introduction of Bitcoin Ordinals in February 2023, the community immediately began minting new tokens, which caused the number of transactions to reach new heights that had not been seen in months.
In the previous year, the implementation of millions of Inscriptions caused a case of network congestion, which resulted in the mempool being clogged and transaction costs increasing, which in turn led to an increase in the number of community disputes.
Ordinals, on the other hand, served as a lifeline for miners who were in a precarious financial situation during the bear market when they were attempting to climb above the seas in preparation for the subsequent halving.
#Write2Earn #TradeNTell #TrendingTopic #BRC20
Yala Protocol: Pioneering DeFi Innovation in the Bitcoin Ecosystem
In the ever-evolving landscape of decentralized finance (DeFi), Yala Protocol emerges as a groundbreaking initiative, aiming to unlock the untapped potential of the native Bitcoin ecosystem. Yala Protocol is not just another DeFi platform; it is a visionary project that believes in Bitcoin and seeks to build a secure, decentralized infrastructure designed for the future of the world's leading cryptocurrency.
Believing in Bitcoin:
Yala Protocol's fundamental philosophy revolves around the belief in #BTC as the cornerstone of the cryptocurrency space. Rather than creating a new asset, Yala Protocol focuses on harnessing the power of native Bitcoin assets within the DeFi space. By doing so, it not only reinforces the significance of Bitcoin but also provides users with the opportunity to earn, borrow, mint, and build within the expanding Bitcoin ecosystem.
Decentralization and Security:
Yala Protocol is committed to the principles of decentralization and security. Built on a secure and decentralized foundation, the protocol ensures that users can engage in financial activities with confidence. This commitment aligns with the ethos of Bitcoin itself – a decentralized and secure form of digital currency. Yala Protocol's dedication to these principles establishes it as a reliable platform for users seeking to participate in the decentralized financial ecosystem.
Network Collaboration:
Yala Protocol recognizes the importance of collaboration in the blockchain space. The project actively engages with leading networks to contribute to the growth of the #Bitcoin ecosystem. By working hand-in-hand with other platforms, Yala Protocol aims to create a robust and interconnected DeFi environment that benefits the entire crypto community.
Key Features for Users:
Yala Protocol offers a range of key features for users to explore and benefit from:
Supply: Users can contribute liquidity to the platform, participating in the growth of the #Yala ecosystem.Borrow: Through a modular #BRC-20 standard, users can create a Vault Modular, initiating the borrowing process with over-collateralization.Liquidity: The platform provides a space for users to engage in liquidity provision, enhancing the overall stability of the ecosystem.Assets: Yala Protocol focuses on native Bitcoin assets, allowing users to work directly with the world's most recognized cryptocurrency.Vote: Users have the opportunity to participate in governance by voting on proposals, ensuring the health and stability of the platform.Liquidations: Yala Protocol incorporates necessary liquidations to maintain platform health and stability.
Takaful Insurance Model:
Yala Protocol introduces the Takaful insurance model, a cooperative insurance system designed to provide protection to participants by sharing risks and offering mutual assistance. This innovative insurance approach aligns with the collaborative spirit of the #decentralized finance space, fostering a sense of community and support among users.
Yala Protocol actively invites users to join its growing community and contribute to the project's development. The White Paper provides in-depth insights into the protocol's design and functionalities. The platform encourages collaboration, welcoming fantastic ideas from the community. Bounties are available for outstanding contributions and suggestions, creating a vibrant and inclusive ecosystem.
Join your communities:
Website:https://yala.finance
Telegram: https://t.me/yala_finance
Discord: https://discord.gg/Ct6VBxTP
Twitter: https://x.com/Yalafinance?s=20
Medium: https://medium.com/@YalaFinance
DYOR and like for more! 👍
Believing in Bitcoin:
Yala Protocol's fundamental philosophy revolves around the belief in #BTC as the cornerstone of the cryptocurrency space. Rather than creating a new asset, Yala Protocol focuses on harnessing the power of native Bitcoin assets within the DeFi space. By doing so, it not only reinforces the significance of Bitcoin but also provides users with the opportunity to earn, borrow, mint, and build within the expanding Bitcoin ecosystem.
Decentralization and Security:
Yala Protocol is committed to the principles of decentralization and security. Built on a secure and decentralized foundation, the protocol ensures that users can engage in financial activities with confidence. This commitment aligns with the ethos of Bitcoin itself – a decentralized and secure form of digital currency. Yala Protocol's dedication to these principles establishes it as a reliable platform for users seeking to participate in the decentralized financial ecosystem.
Network Collaboration:
Yala Protocol recognizes the importance of collaboration in the blockchain space. The project actively engages with leading networks to contribute to the growth of the #Bitcoin ecosystem. By working hand-in-hand with other platforms, Yala Protocol aims to create a robust and interconnected DeFi environment that benefits the entire crypto community.
Key Features for Users:
Yala Protocol offers a range of key features for users to explore and benefit from:
Supply: Users can contribute liquidity to the platform, participating in the growth of the #Yala ecosystem.Borrow: Through a modular #BRC-20 standard, users can create a Vault Modular, initiating the borrowing process with over-collateralization.Liquidity: The platform provides a space for users to engage in liquidity provision, enhancing the overall stability of the ecosystem.Assets: Yala Protocol focuses on native Bitcoin assets, allowing users to work directly with the world's most recognized cryptocurrency.Vote: Users have the opportunity to participate in governance by voting on proposals, ensuring the health and stability of the platform.Liquidations: Yala Protocol incorporates necessary liquidations to maintain platform health and stability.
Takaful Insurance Model:
Yala Protocol introduces the Takaful insurance model, a cooperative insurance system designed to provide protection to participants by sharing risks and offering mutual assistance. This innovative insurance approach aligns with the collaborative spirit of the #decentralized finance space, fostering a sense of community and support among users.
Yala Protocol actively invites users to join its growing community and contribute to the project's development. The White Paper provides in-depth insights into the protocol's design and functionalities. The platform encourages collaboration, welcoming fantastic ideas from the community. Bounties are available for outstanding contributions and suggestions, creating a vibrant and inclusive ecosystem.
Join your communities:
Website:https://yala.finance
Telegram: https://t.me/yala_finance
Discord: https://discord.gg/Ct6VBxTP
Twitter: https://x.com/Yalafinance?s=20
Medium: https://medium.com/@YalaFinance
DYOR and like for more! 👍
Bitcoin Leads the NFT Market with Increase in BRC-20 Token Sales.
In the latest developments in the cryptocurrency industry, Bitcoin has gained a significant lead over Ethereum in the non-fungible token (NFT) market. Data from CryptoSlam shows that Bitcoin's NFT sales volume reached $16.94 million in just one day, bringing the weekly total to $177 million, marking an increase of 88%. This increase is attributed to the growing popularity of SATS #BRC-20 NFTs, which are currently the most sought-after collectibles on the Bitcoin network.
As reported by Dune analytics, the revival in Bitcoin's #NFT market is largely due to the success of the Ordinals protocol. The protocol saw more than 5.6 million entries this November alone, indicating a solid revival from what was previously referred to as the NFT winter. This increase in activity is also reflected in transaction fees, where Bitcoin has surpassed Ethereum. According to Glassnode statistics on Monday, Bitcoin's average transaction fee stood at $10.35, outpacing Ethereum's $8.43. This indicates a significant increase in network activity and interest in Bitcoin-based NFTs and smart contract functions.
Additionally, Bitcoin's dominance in the #NFT market is evident from its monthly sales figures, which stood at $312 million compared to Ethereum's $304 million. Notably, BRC-20 NFTs topped the sales volume rankings with $83 million in transactions on Tuesday, eclipsing other notable collectibles like Bored Ape Yacht Club, which reported $42 million in sales. The buyer base for BRC-20 NFTs expanded by 398%, demonstrating rapidly growing interest among collectors and investors.
$BTC $ETH
In the latest developments in the cryptocurrency industry, Bitcoin has gained a significant lead over Ethereum in the non-fungible token (NFT) market. Data from CryptoSlam shows that Bitcoin's NFT sales volume reached $16.94 million in just one day, bringing the weekly total to $177 million, marking an increase of 88%. This increase is attributed to the growing popularity of SATS #BRC-20 NFTs, which are currently the most sought-after collectibles on the Bitcoin network.
As reported by Dune analytics, the revival in Bitcoin's #NFT market is largely due to the success of the Ordinals protocol. The protocol saw more than 5.6 million entries this November alone, indicating a solid revival from what was previously referred to as the NFT winter. This increase in activity is also reflected in transaction fees, where Bitcoin has surpassed Ethereum. According to Glassnode statistics on Monday, Bitcoin's average transaction fee stood at $10.35, outpacing Ethereum's $8.43. This indicates a significant increase in network activity and interest in Bitcoin-based NFTs and smart contract functions.
Additionally, Bitcoin's dominance in the #NFT market is evident from its monthly sales figures, which stood at $312 million compared to Ethereum's $304 million. Notably, BRC-20 NFTs topped the sales volume rankings with $83 million in transactions on Tuesday, eclipsing other notable collectibles like Bored Ape Yacht Club, which reported $42 million in sales. The buyer base for BRC-20 NFTs expanded by 398%, demonstrating rapidly growing interest among collectors and investors.
$BTC $ETH
🗞 CryptoNews of the Day 🗞
Binance Web3 Wallet Launches Bitcoin Inscriptions Marketplace: Binance, the world's largest cryptocurrency exchange, has announced the launch of an in-app Inscriptions Marketplace.
DETAILS :
https://coinmarketcap.com/academy/article/binance-web3-wallet-launches-bitcoin-inscriptions-marketplace$BTC
#Write2Earn #binance #BTC #BRC-20 #Q83CommUNITY
Binance Web3 Wallet Launches Bitcoin Inscriptions Marketplace: Binance, the world's largest cryptocurrency exchange, has announced the launch of an in-app Inscriptions Marketplace.
DETAILS :
https://coinmarketcap.com/academy/article/binance-web3-wallet-launches-bitcoin-inscriptions-marketplace$BTC
#Write2Earn #binance #BTC #BRC-20 #Q83CommUNITY
✅Innovations around cryptocurrencies seem to be entering the market, with the latest being BRC-20 tokens. From what it’s understood, #BRC-20 is based on Bitcoin blockchain and has been inspired from Ethereum’s ERC-20 standard. BRC-20 enables investors to ensure trading of fungible assets using the protocol.
According to Bitcoinist, a Bitcoin news portal, on May 7, 2023, BRC-20 transactions’ volume reached a 65% high. Experts reportedly believe that this development signifies the protocol’s increasing adoption. “I believe BRC-20 tokens are a type of fungible token standard for Bitcoin created by using the Ordinals protocol. This protocol allows users to trade fungible assets through inscriptions of JSON data, Rajagopal Menon, vice-president, WazirX, a cryptocurrency exchange, told FE Blockchain.
#googleai #BRC20
According to Bitcoinist, a Bitcoin news portal, on May 7, 2023, BRC-20 transactions’ volume reached a 65% high. Experts reportedly believe that this development signifies the protocol’s increasing adoption. “I believe BRC-20 tokens are a type of fungible token standard for Bitcoin created by using the Ordinals protocol. This protocol allows users to trade fungible assets through inscriptions of JSON data, Rajagopal Menon, vice-president, WazirX, a cryptocurrency exchange, told FE Blockchain.
#googleai #BRC20
What is BRC-20, its creation, operation, differences and risks
What is BRC-20?
An experimental token standard that allows for the minting and transfer of fungible tokens on the Bitcoin blockchain via the Ordinals protocol. Like Ethereum's ERC-20 tokens, BRC-20 tokens have different mechanisms and functions.
How was the creation of the BRC-20 token?
However, it is important to note that these tokens are still experimental and users should exercise caution when using them. Although BRC-20 tokens have gained popularity during the first half of 2023, it is important to note that they are still in an experimental phase and therefore may present certain risks for users.
Accordingly, it is recommended that users wishing to use these tokens research and understand the mechanisms and functions associated with them before taking any action.
In short, BRC-20 is an experimental token standard that allows for the minting and transfer of fungible tokens on the Bitcoin blockchain via the Ordinals protocol, similar to Ethereum's ERC-20 tokens. However, since these tokens are experimental, users should exercise caution when using them and understand the potential risks associated with them.
BRC-20 tokens were created to allow the creation and transfer of fungible tokens on the Bitcoin blockchain, just like Ethereum's ERC-20 tokens. The BRC-20 token standard was proposed by the Bytom developer team in 2022, and was based on the Ordinals protocol to enable token creation and transfer.
How is the BRC-20 Token Operation?
BRC-20 tokens work in a similar way to Ethereum's ERC-20 tokens. These tokens are fungible, which means that each token has the same value and is interchangeable with other tokens of the same type. BRC-20 tokens use the Ordinals protocol to enable the creation and transfer of tokens on the Bitcoin blockchain.
What differentiates the new token from the BRC-20 network to ERC-20?
There are some important differences between the BRC-20 and ERC-20 tokens. For example, ERC-20 tokens use the Ethereum blockchain, while BRC-20 tokens use the Bitcoin blockchain. Additionally, BRC-20 tokens have a different smart contract structure than ERC-20 tokens, which may affect their ability to support certain features.
Is there a risk when using the tokens of the BRC-20 chain?
BRC-20 tokens are experimental, which means they are still under development and may present certain risks to users. For example, the smart contracts for BRC-20 tokens may be vulnerable to bugs and security attacks, which may result in the loss of user funds. Additionally, BRC-20 tokens are not yet widely adopted and may have limited liquidity in cryptocurrency markets, which may affect the ease of buying and selling these tokens. Therefore, it is important that users are aware of these risks before using BRC-20 tokens and take steps to protect their funds.
⚠️This is an educational post, not investment advice, in case you want to make an investment, you should do your own research, so please stay SAFU⚠️
#Binance
#BRC20
#feedfeverchallenge
#BRC_20
#BRC-20
An experimental token standard that allows for the minting and transfer of fungible tokens on the Bitcoin blockchain via the Ordinals protocol. Like Ethereum's ERC-20 tokens, BRC-20 tokens have different mechanisms and functions.
How was the creation of the BRC-20 token?
However, it is important to note that these tokens are still experimental and users should exercise caution when using them. Although BRC-20 tokens have gained popularity during the first half of 2023, it is important to note that they are still in an experimental phase and therefore may present certain risks for users.
Accordingly, it is recommended that users wishing to use these tokens research and understand the mechanisms and functions associated with them before taking any action.
In short, BRC-20 is an experimental token standard that allows for the minting and transfer of fungible tokens on the Bitcoin blockchain via the Ordinals protocol, similar to Ethereum's ERC-20 tokens. However, since these tokens are experimental, users should exercise caution when using them and understand the potential risks associated with them.
BRC-20 tokens were created to allow the creation and transfer of fungible tokens on the Bitcoin blockchain, just like Ethereum's ERC-20 tokens. The BRC-20 token standard was proposed by the Bytom developer team in 2022, and was based on the Ordinals protocol to enable token creation and transfer.
How is the BRC-20 Token Operation?
BRC-20 tokens work in a similar way to Ethereum's ERC-20 tokens. These tokens are fungible, which means that each token has the same value and is interchangeable with other tokens of the same type. BRC-20 tokens use the Ordinals protocol to enable the creation and transfer of tokens on the Bitcoin blockchain.
What differentiates the new token from the BRC-20 network to ERC-20?
There are some important differences between the BRC-20 and ERC-20 tokens. For example, ERC-20 tokens use the Ethereum blockchain, while BRC-20 tokens use the Bitcoin blockchain. Additionally, BRC-20 tokens have a different smart contract structure than ERC-20 tokens, which may affect their ability to support certain features.
Is there a risk when using the tokens of the BRC-20 chain?
BRC-20 tokens are experimental, which means they are still under development and may present certain risks to users. For example, the smart contracts for BRC-20 tokens may be vulnerable to bugs and security attacks, which may result in the loss of user funds. Additionally, BRC-20 tokens are not yet widely adopted and may have limited liquidity in cryptocurrency markets, which may affect the ease of buying and selling these tokens. Therefore, it is important that users are aware of these risks before using BRC-20 tokens and take steps to protect their funds.
⚠️This is an educational post, not investment advice, in case you want to make an investment, you should do your own research, so please stay SAFU⚠️
#Binance
#BRC20
#feedfeverchallenge
#BRC_20
#BRC-20
Breaking: Bitcoin Ordinals And BRC-20 Will Cease To Exist, Says Bitcoin Core Dev Luke Dashjr
#BinanceTournament Bitcoin core developer Luke Dashjr remarks Inscriptions as a vulnerability and Ordinals and #BRC-20 will cease to exist after v27 update.#BitcoinCore developer Luke Dashjr on Wednesday said “Inscriptions” are exploiting a vulnerability in Bitcoin Core to spam the blockchain, causing network congestion. Once the vulnerability is fixed before v27 is released next year, Ordinals and BRC-20 will cease to exist. The ordinals and BRC-20 users and miners are criticizing the decision of Bitcoin developers. Traders reacted immediately and #ORDI price fell 15% in an hour.Bitcoin Core Dev Remarks Bitcoin Ordinals and BRC-20 As SpamBitcoin core developer Luke Dashjr took to X on December 6 to reveal that developers are trying to take out Bitcoin inscriptions before the v27 update next year. It means ordinals and BRC-20 will no longer exist.Luke Dashjr clarifies that Bitcoin Core has allowed users to set limits on extra data size in transactions through the “-datacarriersize” setting since 2013. However, Inscriptions have found a way to bypass this limit by obfuscating their data as program code.“This bug was recently fixed in Bitcoin Knots v25.1. It took longer than usual due to my workflow being severely disrupted at the end of last year (v24 was skipped entirely), he added.Bitcoin Core remains vulnerable in its upcoming v26 release. He hopes for a resolution before the release of v27 next year.He further clarifies community questions over miners losing income if ordinals and BRC-20 cease to exist. He said Bitcoin works in consensus with a majority of miners being honest, and not harming the blockchain. For some reason, the spam-filtered blocks have higher fees.Correct— Luke Dashjr (@LukeDashjr) December 6, 2023Crypto Community ReactsThe crypto community has criticized the move to end support for ordinals and BRC-20 next year. Miners profits improved as a result after Bitcoin ordinals and BRC-20 introduction to the community.Shenyu, co-founder of f2pool, said “Bitcoin is not Ethereum, and developers do not have full decision-making power.”Luke Dashjr said entities running the Bitcoin node consented to financial transactions. Many complained after they were forced to consent to inscriptions, which is spamming. The data size use is impacting Bitcoin blockchain, despite various attempts by developers to resolve it.Upbit recently reported facing $BTC withdrawal delays on the exchange due to congestion of the Bitcoin network.$ORDI price fell 15% from 24-hour of $65.19 after the news, with the price currently trading at $51.89. The trading volume has increased by 25% in the last 24 hours.#Memecoins 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. @WISE CRYPTO NEWS
Binance Enters the Inscription Arena: Unleashing BRC-20's Potential
Binance Steps Up
Binance is now stepping into the arena, bringing its massive user base
into the evolving world of BRC-20 ecosystem. By launching its own
in-app marketplace for BRC-20 inscriptions, seamlessly embedded within
the Binance Web3 Wallet, Binance is setting the stage for a broader adoption and deeper exploration of tokenized assets on Bitcoin's blockchain.
Why It Matters
Expanding Horizons:
The introduction of BRC-20 marketplace by Binance is crucial. It simplifies the complex landscape of BRC-20 bitcoin inscriptions, making it easier for Binance's extensive user base to explore and engage with BRC-20 based digital assets. With its user-friendly interface, #Binance empowers its community to seamlessly interact with tokenized assets, fostering new opportunities for investors in the within the vibrant BRC-20 ecosystem
A New Era for Bitcoin:
With this move, Binance is transforming the perception of Bitcoin($BTC ) from solely a digital currency to a foundational layer for innovative digital assets. This expansion into BRC-20 inscriptions signals a new era for Bitcoin, showcasing its potential beyond its original purpose.
The Ripple Effect
Mainstream Momentum
Binance could significantly influence mainstream interest in BRC-20 ecosystem. By leveraging its platform and user trust, Binance has the power to bring BRC-20 based tokenized assets into the spotlight, encouraging wider participation in the digital economy.
Charting the Future
The launch signals more than just a new feature; it represents Binance's commitment to innovation and its role in shaping the future of the digital asset space. As the titan dives into the world of #BRC-20 inscriptions, it's paving the way for others to follow, promising an exciting future for BRC-20 ecosystem.
Be Part of the Movement
As Binance joins the BRC-20 ecosystem, it invites its extensive user community to explore the innovative world of BRC-20. This is more than just an expansion of services; it's a call to explore a new market that's just beginning to reveal its full potential.
Join the journey with Binance as it explores this new frontier. Whether you're a investor or curious observer, the launch of the BRC-20 inscriptions marketplace is a pivotal moment worth paying attention to. The digital currency titan is not just entering a new market; it's redefining what that market can be. Claim your gift now and dive into the future of digital assets with Binance.
#TrendingTopic #Bitcoin #Write2Earn
Binance is now stepping into the arena, bringing its massive user base
into the evolving world of BRC-20 ecosystem. By launching its own
in-app marketplace for BRC-20 inscriptions, seamlessly embedded within
the Binance Web3 Wallet, Binance is setting the stage for a broader adoption and deeper exploration of tokenized assets on Bitcoin's blockchain.
Why It Matters
Expanding Horizons:
The introduction of BRC-20 marketplace by Binance is crucial. It simplifies the complex landscape of BRC-20 bitcoin inscriptions, making it easier for Binance's extensive user base to explore and engage with BRC-20 based digital assets. With its user-friendly interface, #Binance empowers its community to seamlessly interact with tokenized assets, fostering new opportunities for investors in the within the vibrant BRC-20 ecosystem
A New Era for Bitcoin:
With this move, Binance is transforming the perception of Bitcoin($BTC ) from solely a digital currency to a foundational layer for innovative digital assets. This expansion into BRC-20 inscriptions signals a new era for Bitcoin, showcasing its potential beyond its original purpose.
The Ripple Effect
Mainstream Momentum
Binance could significantly influence mainstream interest in BRC-20 ecosystem. By leveraging its platform and user trust, Binance has the power to bring BRC-20 based tokenized assets into the spotlight, encouraging wider participation in the digital economy.
Charting the Future
The launch signals more than just a new feature; it represents Binance's commitment to innovation and its role in shaping the future of the digital asset space. As the titan dives into the world of #BRC-20 inscriptions, it's paving the way for others to follow, promising an exciting future for BRC-20 ecosystem.
Be Part of the Movement
As Binance joins the BRC-20 ecosystem, it invites its extensive user community to explore the innovative world of BRC-20. This is more than just an expansion of services; it's a call to explore a new market that's just beginning to reveal its full potential.
Join the journey with Binance as it explores this new frontier. Whether you're a investor or curious observer, the launch of the BRC-20 inscriptions marketplace is a pivotal moment worth paying attention to. The digital currency titan is not just entering a new market; it's redefining what that market can be. Claim your gift now and dive into the future of digital assets with Binance.
#TrendingTopic #Bitcoin #Write2Earn
🚀 Unisat Ignites a Crypto Revolution! 🌌🛠️
🌐 Breaking News: Unisat is on fire with groundbreaking updates! 🔥 They've just completed the stellar BRC-20 and BRC-20 Swap update, unveiling a proposal for self-minting and destruction functions, setting the stage for the issuance of stablecoins on the BRC-20 protocol. 🚀💱
💡 What's Next? Unisat is diving into the future with plans to collaborate with indexers, gearing up for the launch of Swap function development. Hold tight, as the specific timeline will be unveiled by L1F next week! 📆🔧
🌐 Open-Source Magic: Unisat isn't holding back – they're set to open-source their sequencer and gradually introduce permissionless Rollup, showcasing a commitment to transparency and community involvement! 🌍🤝
🌌 Fractal Bitcoin Unveiled: Unisat spills the beans on the internal Fractal Bitcoin testnet, running seamlessly for a month. Wallet integration is a breeze, allowing users to effortlessly switch between the mainnet and the mesmerizing world of Fractal Bitcoin! 💼🔄
🔮 Sneak Peek: Unisat has been cooking up something special – the development of Cursed Inscriptions is complete and in the testing phase. Brace yourselves for an imminent release! 📜🚀
🔍 Runes in the Mix: Unisat is evaluating the integration of Runes into its ecosystem, adding an extra layer of intrigue to their ever-evolving crypto universe! 🤔✨
🌐 Join the Unisat Journey: As the Unisat saga unfolds, stay tuned for more updates and get ready to ride the waves of innovation in the crypto space! 🚀🌌 #Write2Earn #CryptoInnovation #TrendingTopic #BRC-20
🌐 Breaking News: Unisat is on fire with groundbreaking updates! 🔥 They've just completed the stellar BRC-20 and BRC-20 Swap update, unveiling a proposal for self-minting and destruction functions, setting the stage for the issuance of stablecoins on the BRC-20 protocol. 🚀💱
💡 What's Next? Unisat is diving into the future with plans to collaborate with indexers, gearing up for the launch of Swap function development. Hold tight, as the specific timeline will be unveiled by L1F next week! 📆🔧
🌐 Open-Source Magic: Unisat isn't holding back – they're set to open-source their sequencer and gradually introduce permissionless Rollup, showcasing a commitment to transparency and community involvement! 🌍🤝
🌌 Fractal Bitcoin Unveiled: Unisat spills the beans on the internal Fractal Bitcoin testnet, running seamlessly for a month. Wallet integration is a breeze, allowing users to effortlessly switch between the mainnet and the mesmerizing world of Fractal Bitcoin! 💼🔄
🔮 Sneak Peek: Unisat has been cooking up something special – the development of Cursed Inscriptions is complete and in the testing phase. Brace yourselves for an imminent release! 📜🚀
🔍 Runes in the Mix: Unisat is evaluating the integration of Runes into its ecosystem, adding an extra layer of intrigue to their ever-evolving crypto universe! 🤔✨
🌐 Join the Unisat Journey: As the Unisat saga unfolds, stay tuned for more updates and get ready to ride the waves of innovation in the crypto space! 🚀🌌 #Write2Earn #CryptoInnovation #TrendingTopic #BRC-20
Learn more about BRC-20 tokens!💡 Coming to #SafePal soon!👀
Piqued your interest? Here are some of the trending #BRC-20 projects
📌Disclaimer: This infographic is purely for informational purposes & not financial advice
Always DYOR before any investment decisions! 👇
More tutorials & guides available at:
📖SafePal Academy: blog.safepal.com
📹Youtube channel: youtube.com/SafePalWallet
Download SafePal wallets: safepal.com/download
Piqued your interest? Here are some of the trending #BRC-20 projects
📌Disclaimer: This infographic is purely for informational purposes & not financial advice
Always DYOR before any investment decisions! 👇
More tutorials & guides available at:
📖SafePal Academy: blog.safepal.com
📹Youtube channel: youtube.com/SafePalWallet
Download SafePal wallets: safepal.com/download
6 out of 10 #Bitcoin #transactions are #BRC-20 tokens.
The percentage of network usage to mint this type of tokens peaked on May 7.
#feedfeverchallenge #dyor
The percentage of network usage to mint this type of tokens peaked on May 7.
#feedfeverchallenge #dyor
The Bitcoin network is currently experiencing high levels of congestion.
More than 5 million tokens have been registered on Ordinals, a platform that allows users to register and manage their digital assets. Of these, more than 2 million are fungible tokens, such as ERC-20 tokens, and the remaining 3 million are non-fungible tokens, such as CryptoKitties and NBA Top Shot.
The growing popularity of ordinals is probably due to the growing demand for digital assets. As more and more people become interested in investing in cryptocurrencies and NFTs, they are looking for platforms that make it easy to manage their assets. Ordinals provides a simple and safe way to do this, and it's no surprise that it has become so popular in recent months.
The fact that fungible and non-fungible tokens account for the majority of Bitcoin transactions in recent days is also a sign of the growing popularity of these assets. As more and more people realize the potential of cryptocurrencies and NFTs, they are looking for ways to invest in them. Bitcoin is the most popular cryptocurrency so it is not surprising that it is being used to buy these assets.
There are currently over 400,000 Bitcoin transactions awaiting confirmation. Of these, more than 200,000 are for BRC-20 tokens.
The large number of transactions awaiting confirmation is likely due to the recent rise in popularity of BRC-20 tokens.
Here are some possible reasons for the large number of transactions awaiting confirmation:
The Bitcoin network is currently experiencing high levels of congestion.
Some users may choose to use lower transaction fees, which may result in longer confirmation times.
Some users may be sending transactions to addresses that are not yet fully in sync with the network.
Here are some possible reasons for the large number of confirmed transactions representing BRC-20 tokens:
BRC-20 tokens are currently very popular.
BRC-20 tokens are relatively new, so there is still a lot of demand for them.
BRC-20 tokens are easy to use and trade.
#feedfeverchallenge #BTC #BRC20 #BRC-20 #BRC20coins
The growing popularity of ordinals is probably due to the growing demand for digital assets. As more and more people become interested in investing in cryptocurrencies and NFTs, they are looking for platforms that make it easy to manage their assets. Ordinals provides a simple and safe way to do this, and it's no surprise that it has become so popular in recent months.
The fact that fungible and non-fungible tokens account for the majority of Bitcoin transactions in recent days is also a sign of the growing popularity of these assets. As more and more people realize the potential of cryptocurrencies and NFTs, they are looking for ways to invest in them. Bitcoin is the most popular cryptocurrency so it is not surprising that it is being used to buy these assets.
There are currently over 400,000 Bitcoin transactions awaiting confirmation. Of these, more than 200,000 are for BRC-20 tokens.
The large number of transactions awaiting confirmation is likely due to the recent rise in popularity of BRC-20 tokens.
Here are some possible reasons for the large number of transactions awaiting confirmation:
The Bitcoin network is currently experiencing high levels of congestion.
Some users may choose to use lower transaction fees, which may result in longer confirmation times.
Some users may be sending transactions to addresses that are not yet fully in sync with the network.
Here are some possible reasons for the large number of confirmed transactions representing BRC-20 tokens:
BRC-20 tokens are currently very popular.
BRC-20 tokens are relatively new, so there is still a lot of demand for them.
BRC-20 tokens are easy to use and trade.
#feedfeverchallenge #BTC #BRC20 #BRC-20 #BRC20coins
📊💰 #CryptoRank . Crypto Fundraising Review for 2023:
▪️ Cryptocurrency fundraising hits three-year low: In 2023, a total of $9.7 billion was raised in 1,189 funding rounds;
▪️ By the end of 2023 fundraising #BRC-20 grew steadily potentially indicating one of the main trends of 2024;
▪️ Venture capital preferences are shifting towards early-stage projects with a decrease in investments in large funding rounds
▪️ Cryptocurrency fundraising hits three-year low: In 2023, a total of $9.7 billion was raised in 1,189 funding rounds;
▪️ By the end of 2023 fundraising #BRC-20 grew steadily potentially indicating one of the main trends of 2024;
▪️ Venture capital preferences are shifting towards early-stage projects with a decrease in investments in large funding rounds
Share 7 must-have websites related to BRC-20！
Recently, #BRC-20 has been booming in the cryptocurrency industry. You are not alone in diving into the world of BRC-20, as many others are also rushing in. How can you afford to be left behind without the necessary information and tools?
Therefore, I would like to share some websites that are useful for investing in BRC-20, which will allow you to stay ahead of the game and quickly access the latest information😜
1.Wallet–https://unisat.io (Without a wallet, you're on the sidelines😆)
2.Wallet(Market)–http://ordinalswallet.com (It is also a wallet, and it aggregates some transaction information and channels on the chain)
3.On-chain data–https://unisat.io/brc20 (You can use this platform to query real-time on-chain transaction data and monitor the interactions of new projects.)
4.Data website– http://brc–http://20.io (The Essential Data Aggregation Website,Similar to CMC)
5.Market information and provide trading–http://magiceden.io/ordinals (NFT and trading information for brc20)
6.Data website– https://ordspace.org/brc20 (You can query the number of holders and other data on the BRC blockchain using this platform)
7.Market information and provide trading–http://unisat.io/market (It is also a trading market)
⭕Wallet is the computer side, recommended to use Google Chrome one click to install plug-ins to use~
Brc20 is hot, in essence, is still a Ponzi game, you can now open Twitter to see a lot of KOL issuing their tokens
If you're passionate about investing in #Meme , there are three basic rules you should know:
Don't lock in your investment;
Don't enter the market at a high price;
Don't hold for the long term.
⭕Why shouldn't you lock in your investment? In the world of cryptocurrency, losing liquidity due to a game of musical chairs can lead to dangerous consequences.
⭕What is considered a high price? When you search on social media and find that many people have already made a substantial profit, that's when it's a high price.
⭕Why shouldn't you hold for the long term? The reason is similar to the first rule - in the world of MEME, it's all about who can run the fastest.
#BTC
Therefore, I would like to share some websites that are useful for investing in BRC-20, which will allow you to stay ahead of the game and quickly access the latest information😜
1.Wallet–https://unisat.io (Without a wallet, you're on the sidelines😆)
2.Wallet(Market)–http://ordinalswallet.com (It is also a wallet, and it aggregates some transaction information and channels on the chain)
3.On-chain data–https://unisat.io/brc20 (You can use this platform to query real-time on-chain transaction data and monitor the interactions of new projects.)
4.Data website– http://brc–http://20.io (The Essential Data Aggregation Website,Similar to CMC)
5.Market information and provide trading–http://magiceden.io/ordinals (NFT and trading information for brc20)
6.Data website– https://ordspace.org/brc20 (You can query the number of holders and other data on the BRC blockchain using this platform)
7.Market information and provide trading–http://unisat.io/market (It is also a trading market)
⭕Wallet is the computer side, recommended to use Google Chrome one click to install plug-ins to use~
Brc20 is hot, in essence, is still a Ponzi game, you can now open Twitter to see a lot of KOL issuing their tokens
If you're passionate about investing in #Meme , there are three basic rules you should know:
Don't lock in your investment;
Don't enter the market at a high price;
Don't hold for the long term.
⭕Why shouldn't you lock in your investment? In the world of cryptocurrency, losing liquidity due to a game of musical chairs can lead to dangerous consequences.
⭕What is considered a high price? When you search on social media and find that many people have already made a substantial profit, that's when it's a high price.
⭕Why shouldn't you hold for the long term? The reason is similar to the first rule - in the world of MEME, it's all about who can run the fastest.
#BTC
🚀 The Rise of BRC-20 Tokens: A New Era for the Bitcoin Blockchain!
BRC-20 tokens are an experimental fungible token standard designed specifically for the #Bitcoin blockchain. Similar to Ethereum's ERC-20 standard, BRC-20 tokens allow for the creation and transfer of fungible tokens on the Bitcoin network. The #BRC-20 standard was introduced in March 2023 and is made possible by the #Ordinals protocol, which enables the issuance and transfer of tokens on the Bitcoin blockchain.
Unlike #ERC-20 , BRC-20 is not an approved standard and is still in the experimental stage. The market cap of all BRC-20 tokens stood at around $750 million as of May 8, 2023, indicating a significant level of interest and adoption in a relatively short period.
BRC-20 tokens are an experimental fungible token standard designed specifically for the #Bitcoin blockchain. Similar to Ethereum's ERC-20 standard, BRC-20 tokens allow for the creation and transfer of fungible tokens on the Bitcoin network. The #BRC-20 standard was introduced in March 2023 and is made possible by the #Ordinals protocol, which enables the issuance and transfer of tokens on the Bitcoin blockchain.
Unlike #ERC-20 , BRC-20 is not an approved standard and is still in the experimental stage. The market cap of all BRC-20 tokens stood at around $750 million as of May 8, 2023, indicating a significant level of interest and adoption in a relatively short period.
#BitKeep, a supplier of self-custody wallets, announced support for BRC-20 tokens released on the #Bitcoin network on June 21. Users can examine, rank, and transfer #BRC-20 tokens as well as #nonfungible tokens (NFTs) with this tool. BRC-20 in-wallet swaps will be available "in the future," according to the developers.
According to Coingecko, The BRC-20 market cap today is $1.34 Billion, a -14.4% change in the last 24 hours.
#BRC20 #BRC-20 #BinanceTournament
#BRC20 #BRC-20 #BinanceTournament
