1 year ago
There are presently much than 34,000 types of BRC-20 tokens successful circulation.
On June 21, self-custody wallet supplier BitKeep announced enactment for BRC-20 tokens issued connected the Bitcoin network. With the feature, users tin view, fertile and transportation BRC-20 tokens and nonfungible tokens (NFTs). Developers besides stated BRC-20 in-wallet swaps are coming “in [the] future."
Last month, cryptocurrency speech OKX besides announced enactment for BRC-20 assets via the OKX Wallet app. Many centralized and decentralized exchanges person besides rolled retired BRC-20 support.
Although bullish connected its outlook, Trust Wallet presently does not enactment BRC-20 tokens. They besides cannot presently beryllium stored connected MetaMask.
Best wallet for your #BRC20 assets!
️ Great news: BitKeep present supports #BTC #Taproot addresses! Easily negociate your #Ordinals BRC20 Token/NFT assets successful BitKeep wallet, and implicit transactions with a elemental click
In future, we volition besides enactment the BRC20 #Swap function! pic.twitter.com/W48wsNH5kh
Despite adoption, however, the existent marketplace headdress of BRC-20 tokens is $154.5 million, representing a astir 85% diminution from its all-time precocious successful May during the highest of the memecoin craze. Although primitively aided by capitalist involvement successful minting BRC-20 NFTs, the immense bulk of BRC-20 tokens’ marketplace headdress presently consists of memecoins specified arsenic WZRD, PIZA and PEPE.
As told by BitKeep, BRC-20 is simply a caller token modular that utilizes Ordinals and Inscriptions to make caller assets connected Bitcoin (BTC). Ordinals alteration the instauration of fungible tokens connected apical of Bitcoin. Meanwhile, Inscriptions let users to make unsocial integer assets connected the Bitcoin blockchain. Together, they signifier the BRC-20 token modular that allows users to deploy, mint and transportation Bitcoin assets.
Unlike the ERC-20 token standard, BRC-20 tokens cannot execute analyzable functions and are constricted to the 3 aforementioned features. The protocol was created by Twitter idiosyncratic Domo connected March 8, 2023. Since then, 34,652 BRC-20 token types person been deployed. In comparison, determination could beryllium arsenic galore arsenic 400 cardinal ERC-20 tokens connected Ethereum. Domo has personally stated that the BRC-20 modular is “worthless” and that users should “not discarded wealth wide minting” this “fun experiment."
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