“Bitcoin Request for Comment” (BRC-20) is a new, experimental token standard being used to issue and transfer fungible tokens on the Bitcoin blockchain. BRC-20 was first detailed in March 2023 and uses the Ordinals protocol. The market cap of all BRC-20 tokens stood at ~$750M as of 5/8/2023. That’s up ~44x from ~$17.5M as of 4/24/2023.
What is a brc-20 token standard?
These standards open up avenues for tokenization and the creation of digital assets, expanding the range of possibilities beyond Bitcoin's role as a digital currency. The BRC-20 token standard is an experimental fungible token standard designed specifically for the Bitcoin blockchain.
What is BRC 20 & why is it important?
Compatibility stands as a defining advantage of the BRC-20 standard, as it enables Bitcoin ordinals and BRC-20 tokens to integrate seamlessly with the Bitcoin blockchain. This allows the framework to flourish due to its capitalization on the network’s robustness and widespread acceptance.
How to find brc20 TX history?
You can use the BRC20 ordinal explorer to search for BRC20 TX history and analyze the transfer function. Currently there are not many centralized exchanges that has support for BRC-20 tokens. For now Crypto.com and Gate.io are the only two exchanges to allow trading of BRC-20 tokens.
