Many people know that inscriptions are popular, but do you really know the principle of BRC-20?

Before talking about BRC-20, let's talk about the two concepts of Bitcoin NFT protocol Ordinals and inscriptions.

Because the total amount of Bitcoin is 21 million, and 1 can be divided into 100 million satoshis (satoshi, the smallest unit of Bitcoin), there are 2100 trillion satoshis in total.

The Ordinal protocol was launched by Bitcoin developer Casey Rodarmor on January 21, 2023. It is used to number sats and assign a unique serial number to each sat.

Through the Ordinals protocol, information such as text, pictures, audio and video is written to each sat, and an inscription is generated, that is, the inscription is created by writing content to each sat using the Ordinals protocol.

Domo, the founder of the BRC-20 protocol, believes that the Ordinals protocol can not only be used to issue NFTs, but also to issue homogeneous tokens. When the inscription is minted according to a unified protocol standard (JSON data format), a homogeneous token can be generated. This way of issuing tokens on the Bitcoin blockchain is called BRC-20.

Therefore, the inscriptions on Bitcoin NFTs are different information, and the inscriptions on the tokens marked on BRC-20 are all text data (Text) in a unified JSON format.

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