BRC20 is not fully played yet, BRC21 is coming again😂😂😂

宋哥社区 · 2023-05-08T16:45:40.000Z

BRC-21 assets are still essentially BRC-20 assets, but unlike BRC-20 assets that are "generated out of thin air", BRC-21 needs to be generated by locking assets on the starting chain (such as ETH, DOT, ATOM, DAI, etc. etc.), in other words, the BRC-21 standard provides a possibility to mint BRC-20 versions of ETH, DAI and other on-chain assets on the Bitcoin network. This is a proposal that can introduce decentralized cross-chain assets to the Bitcoin network. By locking tokens on other chains, BRC20 tokens can be generated. The main purpose is to deploy decentralized stablecoins to the Lightning Network and similar payment protocols. In theory, it can also generate BRC20 versions of ETH, DOT, etc., which is a bit defi.

宋哥社区

BRC-21 assets are essentially still BRC-20 assets, but unlike BRC-20 assets that are "created out of thin air", BRC-21 needs to be generated by locking assets on the starting chain (such as ETH, DOT, ATOM, DAI, etc.). In other words, the BRC-21 standard provides a possibility to mint BRC-20 versions of ETH, DAI and other on-chain assets on the Bitcoin network.
This is a proposal to introduce decentralized cross-chain assets to the Bitcoin network. By locking tokens on other chains, BRC20 tokens can be generated. The main purpose is to deploy decentralized stablecoins on the Lightning Network and similar payment protocols. In theory, BRC20 versions of ETH, DOT, etc. can also be generated, which is a bit like DeFi.
#BTC #crypto2023 #ETH #Binance #Web3 