BRC-20 tokens are the latest innovation of the Ordinals Protocol and have taken over timelines across Crypto Twitter in recent weeks. BRC-20 is an experimental token standard that has enabled the deployment, minting, and transferring of fungible tokens on the Bitcoin blockchain.
Do you need a bitcoin ordinal wallet to mint brc-20 tokens?
A Bitcoin ordinal wallet is required to mint BRC-20 tokens, and there is a limit for each mint. The BRC-20 token standard has seen a rise to prominence with the market capitalization reaching over $600 million and thousands of BRC-20 tokens minted already. Notable BRC-20 tokens include the Ordinal token ( ORDI) and OXBT.
What are ordinal NFTS & brc-20 tokens?
Since then, Bitcoin developers have been exploring use cases of this new ability, giving rise to ordinals NFTs and BRC-20 tokens. Ordinal NFTs are non-fungible and are created by attaching a digital asset file such as images to a satoshi. BRC-20 tokens are fungible and are created in a different way.
How are ERC-20 tokens created?
ERC-20 tokens are created through a proper smart contract code written in a language understood by the EV Machine such as Solidity. The smart contract code is deployed on the state machine to create the tokens. In contrast, BRC-20 tokens are created through ordinal inscriptions on satoshis using JSON.
