BRC-20

By: WEEX|2024/10/21 05:38:13

BRC-20 is a token standard designed for the Bitcoin blockchain, enabling the creation of fungible tokens similar to Ethereum's ERC-20 standard. It leverages ordinal inscriptions and operates within the Bitcoin network, which historically was not built for tokens other than Bitcoin. BRC-20 allows the minting and transferring of tokens on Bitcoin using a specific JSON inscription to define properties like the token's supply and minting process. With the rise of decentralized finance (DeFi) and the need for a more versatile use of Bitcoin's blockchain, BRC-20 introduces new functionalities to Bitcoin beyond simple transactions. While BRC-20 tokens are still in the experimental stage, they signify a shift towards increasing Bitcoin's utility in the decentralized ecosystem.

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