BRC-20 is considered a new trend with strong growth potential in the near future. So, what is BRC-20? Let's explore this new token standard on Bitcoin together!
What is BRC-20?
BRC-20 is an experimental token standard stored on the Bitcoin blockchain, based on the Ordinals and inscriptions protocol. These two mechanisms ensure the safety and reliability of NFTs created on the Bitcoin network. The BRC-20 standard provides a JSON file deployed as a contract token, allowing developers to mint and trade tokens through the Ordinals protocol.
The BRC-20 standard was created by a Twitter user named @domodata on March 8th and quickly became a trend in the cryptocurrency ecosystem. As of May 21st, 2024, according to CoinmarketCap, there are 72 BRC-20 tokens, with a market capitalization exceeding 2 billion USD, led by tokens such as ORDI, SATS, PUPS, and LEVER.
History of BRC-20
November 2021: The Taproot update was deployed on the Bitcoin network, increasing the amount of data that can be stored in blocks, paving the way for new developments.January 2023: Casey Rodarmor released the Ordinals protocol to create NFTs on the Bitcoin network. Major projects like Yuga Labs and DeGods launched NFTs on Bitcoin Ordinals, attracting a significant number of new users, especially NFT collectors.March 2023: Based on Ordinals, developer Domo (@domodata) introduced the BRC-20 token standard. The first BRC-20 token was “ORDI,” and many support tools for BRC-20, such as Ordinals Wallet and Unisat Wallet, were quickly deployed. Numerous “copycat” tokens were issued and rapidly increased in value.
What are the characteristics of BRC-20?
Difference from ERC-20: Although BRC-20 is modeled after the ERC-20 standard, it has many distinct features. BRC-20 does not use smart contracts like ERC-20 but integrates with Bitcoin wallets to mint and trade tokens. BRC-20 is deployed on the Bitcoin blockchain using the Proof-of-Work consensus mechanism, so users have to pay higher gas fees compared to ERC-20.No use of smart contracts: Tokens adhering to the BRC-20 standard do not use smart contracts, affecting how tokens are deployed and managed on the Bitcoin blockchain.Anonymous creator: The BRC-20 token standard was created by an anonymous on-chain analyst known as Domo. The primary goal is to create fungible tokens that can be issued and traded on Bitcoin.Rapid growth: BRC-20 quickly became a prominent trend, with a market capitalization currently at 469,862,581 USD, indicating significant community interest and strong potential for future development.
How do BRC-20 tokens work?
BRC-20 tokens are created using the Ordinals and Inscriptions protocol. The Ordinals protocol allows users to attach data to satoshis, the smallest unit of Bitcoin, to create Ordinal NFTs or BRC-20 tokens. This data can be text, code, images, audio, or video. This process of attachment is called inscribing.
Not all tokens created through inscribing are BRC-20 tokens. BRC-20 tokens are created only when using JavaScript Object Notation (JSON) code. While Ordinal NFTs attach digital assets to satoshis, BRC-20 attaches JSON code, a data format that defines all aspects of the token, including supply, mint limits, and token identity.
What are BRC-20 tokens used for?
Crowdfunding: BRC-20 tokens provide a practical solution for raising funds for new projects on the Bitcoin network through IDO events.Decentralized Finance (DeFi): With high security and compatibility with the Bitcoin network, BRC-20 tokens have the potential to revolutionize the DeFi space on the Bitcoin network.Utility tokens: BRC-20 tokens can be integrated into various applications, such as NFT marketplaces and blockchain games.Community tokens: BRC-20 tokens play a crucial role in supporting communities within the Bitcoin ecosystem.
What are the pros and cons of BRC-20?
Pros
Compatibility with the Bitcoin network: BRC-20 is built on the Bitcoin blockchain, so BRC-20 tokens can be stored and used on all Bitcoin wallets.Ease of use: The standard employs a simplified mechanism, allowing users to mint and transfer tokens without requiring advanced technical knowledge.Security: Utilizing Bitcoin’s security technology, including the SHA-256 hash algorithm and digital signatures, BRC-20 ensures the safety and integrity of tokens, preventing external interference.
Cons
Experimental stage: The standard is in an experimental phase, posing various risks, network congestion, and limited features.High costs: Due to the Proof-of-Work consensus mechanism, gas fees are higher than those of token standards from other blockchains.
The future of BRC-20 tokens
BRC-20 tokens attract attention due to new improvements, but many believe that they are just a fleeting trend without intrinsic value. However, BRC-20 continues to persist in the crypto industry, not just as profitable assets but also as demonstrations of Bitcoin blockchain’s power. The community of users and developers continues to research and apply BRC-20 in various fields, driving the robust growth of the cryptocurrency world.
How to store BRC-20 tokens
Storage on Ordinals Wallet: Launched on February 16, 2023, Ordinals Wallet allows storage of Bitcoin and BRC-20 tokens, as well as buying and selling NFTs and tracking transactions of Ordinals NFTs.Storage on Unisat: UniSat Wallet is a self-custody wallet in the form of a Chrome extension, enabling users to store and transact Ordinals NFTs and BRC-20 tokens.Storage on Xverse: Xverse is a wallet supporting BRC-20 tokens, allowing the exchange of BRC-20 tokens, access to Ordinal marketplaces, DeFi applications, and safe offline storage of assets.
Conclusion
The advent of the Ordinals protocol and Bitcoin NFTs has brought fresh air to the crypto market. BRC-20 is a continuation of Bitcoin NFTs, but due to the limitations of the Bitcoin network, this token type has yet to find many applications. BRC-20 tokens are still very new to most investors in the crypto market, so this standard will need more time to reach the level of popularity that ERC-20 currently enjoys.
Through the article “What is BRC-20? Understanding the Token Standard on Bitcoin,” I hope you have gained an overview of BRC-20 tokens and their limitations.
#BTC #BRC20Tokens

✍️ This is an analysis article about #SRC20 based on personal knowledge.If you have any comments, please comment below.1⃣Abstract#SRC20, a groundbreaking technical standard, has emerged as a game-changer in the world of blockchain by providing a framework for creating and managing tokens on the Bitcoin blockchain. Inspired by Ethereum's ERC-20, #SRC20 ensures a consistent and compatible approach to token creation, facilitating seamless storage, trading, and movement across various applications and wallets. This article delves into the details of #SRC20, focusing on its architecture, the innovative Bitcoin Stamps it supports, and the advantages and limitations it presents.2⃣Introduction#SRC20 stands as a technical standard that defines specifications for Bitcoin Secure Tradeable Art Maintained Permanently (Stamps), a unique form of digital artworks launched in March 2023. These Stamps are stored securely on the Bitcoin blockchain, allowing for permanent and tamper-proof storage.3⃣Technical SpecificationsInitially utilizing the Counterparty protocol, #SRC20 has evolved to directly create transactions on the Bitcoin blockchain. This evolution eliminates the need to burn BTC or use alternative cryptocurrencies, simplifying transactions and making them more seamless. Bitcoin Stamps, often referred to as Bitcoin's non-fungible tokens (NFTs), distinguish themselves by directly embedding data into Bitcoin transactions' unspent transaction outputs (UTXOs) rather than attaching it to a token.Minting Bitcoin Stamps involves converting an image into text, encoding it as a Base64 file, and sending it to the Bitcoin network for validation. The Stamps are then recompiled into their original form, ensuring the permanence of the artwork on the blockchain.4⃣Advantages of #SRC20Simplified Token Creation#SRC20's streamlined process eliminates the need to burn BTC or other tokens, embedding data directly into blockchain transactions. This not only simplifies token creation but also enhances the efficiency of the entire process.Increasing AccessibilityBy enabling fractional ownership, #SRC20 opens new opportunities for a broader range of users. Individuals can now own a portion of an asset without requiring a significant upfront investment, democratizing access to tokenized assets.Streamlining TransactionsUtilizing smart contracts to attach images and text to blockchain transactions distinguishes #SRC20 from traditional NFT standards. This innovative approach streamlines transactions and provides a more efficient way of handling digital artwork on the Bitcoin blockchain.5⃣Limitations of #SRC20ScalabilityAs with many blockchain-based systems, #SRC20 faces scalability challenges on the Bitcoin blockchain. The increasing number of transactions may lead to network congestion, causing delays in settlement and rising transaction fees.Security RisksSmart contract vulnerabilities pose security risks, potentially resulting in financial losses for token holders. Developers must stay vigilant and update their knowledge on the latest security threats and best practices to ensure the robustness of #SRC20 implementations.Regulatory ChallengesThe dynamic nature of global regulatory attitudes towards digital assets introduces uncertainty and regulatory challenges. Navigating these challenges requires a proactive approach from #SRC20 developers to ensure compliance with evolving regulatory frameworks.6⃣Conclusion#SRC20, as an emerging standard, has demonstrated the potential to revolutionize tokenization on the Bitcoin blockchain. With its focus on embedding artwork in the form of images and facilitating fractional ownership, #SRC20 addresses key challenges in the blockchain space. While it offers advantages such as simplified token creation and increased accessibility, developers and stakeholders must remain vigilant in addressing scalability, security, and regulatory concerns to fully unlock the potential of #SRC20 in the evolving landscape of digital assets. #BRC20Tokens #SRC20 #BTCOrdinal #BTC

Guys as the meme coins rally is comming to an end 🔴you must be thinking which coins will pump ⬆️ after the meme coins stops ⁉️So here is the answer to your questions ....First of all Like and Follow me for more updates✅I am giving you the list of coins that will pump:Ordi $ORDI Sats $1000SATS On Other Plateforms like bybit etc.Rats $RatsNals $NALSThere are far more other BRC-20 Tokens but they are not listed on binance by now so you can trade them on other exchanges like bybit,kucoin etc....Make sure to buy some of these they will pump hard✅✅✅#TrendingTopic #WIF #BTC #OrdiCommunity #BRC20Tokens ....

Hello, Binance Enthusiasts! 🌐 It’s Linkan here, diving into the exciting world of BRC20 tokens. These tokens represent a significant innovation on the Bitcoin blockchain, and with their growing popularity, it’s essential to understand their potential and unique characteristics. So, let’s explore! 🔍💡Understanding the BRC20 Token Standard:What Are BRC20 Tokens? 🤔BRC20 tokens are a novel development on the Bitcoin blockchain, mirroring Ethereum’s ERC-20 tokens but tailored for Bitcoin’s architecture. Utilizing the Ordinals protocol, these tokens are created by inscribing data onto satoshis, the smallest unit of Bitcoin. This innovation expands Bitcoin’s functionality to include both fungible and non-fungible tokens, offering a diverse range of applications from NFTs to various cryptographic tokens .How They Function ⚙️:The Ordinals protocol allows unique identifiers to be assigned to each satoshi, enabling content like text, images, or videos to be “inscribed,” thus creating NFTs and fungible tokens on the Bitcoin blockchainSpotlight on Prominent BRC20 Tokens:1. ORDI 🌐: • Use Case: As a trailblazing memecoin, ORDI exemplifies the capabilities of the Ordinals protocol in embedding diverse data into satoshis. It signifies the advent of Bitcoin-based NFTs and tokens, broadening Bitcoin’s utility • Market Impact: Gaining popularity as a token that represents new possibilities on Bitcoin, ORDI saw substantial price growth post its exchange listings, highlighting the demand for such innovative tokens2. SATS BRC-20 🛠️: • Functionality: SATS BRC-20 innovatively facilitates the creation of fungible tokens. It’s part of the Ordinals-driven movement and represents an experimental advancement in Bitcoin’s asset diversity - Challenges and Community Response: The release of SATS BRC-20 spurred debates about Bitcoin’s transaction fees and its implications for Bitcoin’s original vision3. MUBI, TRAC, BASB, ALEX: • Potential Roles: The specific details and use cases of MUBI, TRAC, BASB, and ALEX as BRC20 tokens which can be searched more and possibly I will back to you if I see something interesting and worth to mention with another article/post. However, their existence under the BRC20 standard suggests potential for diverse applications, from digital media to supply chain management, community engagement, or financial instruments.The Road Ahead for BRC20 Tokens 🛣️:The BRC20 ecosystem, currently dominated by innovative meme coins, holds vast potential for a wide array of applications. As the technology behind these tokens matures, we may see an expansion in their use cases, possibly encompassing decentralized finance, digital collectibles, and beyond.Embracing the Future with Caution 🚨:While BRC20 tokens offer exciting possibilities, they come with inherent risks due to their experimental nature. It’s crucial for investors and enthusiasts to approach these tokens with due diligence and informed decision-making.Stay tuned as we continue to navigate the evolving landscape of cryptocurrencies and blockchain technology! 🌍💫🔮Hashtags for Binance Square Engagement: • #BRC20Tokens #BRC20Tokens #CryptoTrends2024 #ORDI #SATS Please note that this is not a financial advice. Please do your own research.

What is Ordiswap?Ordiswap is a groundbreaking protocol set to redefine the liquidity dynamics on Bitcoin's base layer through an innovative combination of the BRC-20 and Ordinals standards. Created by a seasoned development team with a commitment to technical excellence. Ordiswap marks a significant step forward in decentralized finance (DeFi) for the Bitcoin ecosystem.At its core, Ordiswap seamlessly integrates off-chain server management with the unique tokenization capabilities of the BRC-20 standard. It ushers in a new era of direct transactions on Bitcoin's base layer.https://ordiswap .fi/This technical excellence, inspired by the principles that drive Ethereum's success. Ordiswap navigates the complexity of decentralized trading without relying on on-chain smart contracts, ensuring security and efficiency.Ordiswap featuresSwap BRC-20 tokens Ordiswap is a decentralized exchange (DEX) built on layer 1 of Bitcoin using the BRC-20 standard and ordering. The platform offers users a seamless experience when swapping tokens.Ordiswap uses Uniswap v2's constant product formula, ensuring fairness and efficiency in token transactions with minimized slippage, enhancing the overall trading experience.Provide liquidityUnisat Wallet securely manages private keys and communicates with Ordiswap's smart contract through Bitcoin nodes.Ordiswap's off-chain servers ensure equilibrium, allowing for efficient AMM functionality to provide liquidity.Unisat Wallet facilitates transaction data being securely sent to Ordiswap. Then start providing liquidity through regulations and BRC-20 standards.Ordiswap leverages Uniswap v2's constant product formula, ensuring efficient pool management and a reasonable fee structure.Fee structureOrdiswap leverages Bitcoin's native layer-1 for fee-based transactions, ensuring direct and secure transfer of fees to the pool creator's Unisat Wallet.Mirroring the fee structure of Uniswap v2 ensures user familiarity while introducing Bitcoin-specific advantages.Bitcoin's network architecture contributes to fee stability, avoiding congestion-related issues that occur on other blockchain networks.Flexible fees enhance competitiveness, encourage more liquidity providers to participate, and improve the overall depth of the pool.Asset custodyThe fundamental importance of asset custody, emphasizing the unprecedented security and decentralization of the Bitcoin network. Ordiswap integrates these principles into every aspect of its decentralized exchange (DEX). Ensure that users' assets remain under their control and protected.Highlights of OrdiswapOrdiswap excels at transaction execution and liquidity facilitation, maintaining the core principles of the Bitcoin network.Ordiswap also ensures that transactions conform to the inherent security and certainty of the Bitcoin blockchain.Ordiswap's synthetic oracle revolutionizes pricing pools by uniquely integrating them as oracles within the ecosystem. Each group serves as a dynamic source of historical price and liquidity data. It opens the door to diverse on-chain applications.Information about ORDS tokensBasic informationToken Name: Ordiswap TokenToken Ticker: ORDSTotal Supply : 1,000,000BRC-20 Address : TBAEthereum Address : TBAToken Use CaseORDS is an interoperable utility token meticulously crafted to operate seamlessly on the Bitcoin base layer and the Ethereum network.ORDS participates in voting and governanceORDS is used as a fee and provides liquidity on OrdiswapToken AllocationInitial Liquidity Pool (ILP):Released at TGE: 200,000 ORDSTeam & Advisors:Released at TGE: 10,000 ORDSfollowed by a 3-month cliff with daily linear vesting afterwardsCommunity and Ecosystem:Released at TGE: 15,000 ORDS1-month cliff with daily linear vesting afterwardsStaking Rewards:Released at TGE: 15,000 ORDS1-month cliff with daily linear vesting afterwardsTreasury:Released at TGE: 10,000 ORDSfollowed by a 3-month cliff with daily linear vesting afterwardsPublic Sale:Released at TGE: 150,000 ORDSPrivate Sale:released at TGE: 25,000 ORDS75% vested over remaining 6 months, with 12.5% monthly.Seed Round:released at TGE: 12,500 ORDS75% vested over remaining 12 months, with 6.25% monthly.Token Emission ScheduleInvestors and partners RoadmapPhase 1: Creation and ConceptualizationThe birth of OrdiswapLaunch research and developmentPhase 2: Prototyping and initial developmentDevelop smart contractsCheck button integrationPhase 3: Initial launch and user onboardingOrdiswap Alpha releaseTesting and community feedbackPhase 4: Security testing and optimizationSecurity auditOptimization and efficiencyStage 5: Interoperability and extensibilityIntegrated BRC-20Ordiswap launchpad for BRC-20 tokenPhase 6: Continuous improvement and global reachInnovative features and user administrationStrategic partnerships and global expansion#ORDI/USDT #BRC20Tokens