Times are changing, you can't remain static, always stay curious and eager to learn.
BRC-20 may be the next hot spot and trend. Although BRC-20 is in a wild era now, if you don’t embrace it now, you will be forced to embrace it one day!
BRC-20 is a token standard based on the Bitcoin network, similar to the ERC-20 standard in the Ethereum network. It was created by @domodata on March 8, 2023. It uses Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and transfer tokens. The main features of BRC-20 tokens are: They can be transferred and traded using the Bitcoin network, but have nothing to do with the value of Bitcoin itself. They can be stored and traded in wallets and exchanges that support the Bitcoin network. The basic elements of the token contract are specified, including the token name, symbol, total supply, decimal places, etc. They can be used in various application scenarios, such as DEX, digital asset payments, etc.
After several months of precipitation, OpenDao released its sub-DAO BRC-20 DAO on the BTC chain on April 30, 2023. Unlike other projects, BRC-20 DAO has developed a minting system. Currently, most BRC-20 projects mint coins through public mint, which not only leads to uneven distribution of chips, but also the GAS war will cause congestion in the BTC network. The minting system of BRC-20 DAO is that users can automatically return the corresponding share of BRC-20 tokens when they choose Mint, and there is no preemption and minting failure. At the same time, OpenDAO will also bring its own BRC-20 Swap. Users can add unilateral or bilateral LPs like on Ethereum, which can enhance the liquidity of the BRC-20 ecosystem and attract more users of Ethereum, SOL, and Eth L2 ecosystems. BRC-20 DAO is currently developing many infrastructure applications for the BTC ecosystem, such as LaunchPad and BTC L2.
#BTC #crypto2023 #ETH #Binance #Web3
