BRC-20 Tokens have been attracting interest from crypto investors in recent days. These tokens are created using the Bitcoin blockchain, which is secured by Proof-of-Work (PoW) and has a limited feature set due to the lack of smart contract support on Bitcoin.
Especially with the rise of Pepe coin, we have compiled the BRC-20 coins for you, which have come to the fore again…
What is BRC-20?
BRC-20 tokens, which means “Bitcoin Request for Comment” in English and written on satoshis, are fully powered by the security of the Bitcoin network and operate on the BTC network. The BRC-20 token standard is designed to run smart contracts on the blockchain, similar to Ethereum’s ERC-20 standard.
BRC-20 Tokens
It is an experimental token created using the BRC-20 standard, Ordinals and Inscriptions and registered on the bitcoin base chain. It uses Ordinal inscriptions of JSON data to distribute token contracts, minted tokens and transfer tokens. Although the BRC-20 standard resembles the ERC-20, the BRC-20’s ability to interact with smart contracts makes it different from the ERC-20.
The prominent cryptocurrencies built on the BRC-20 token standard and with high transaction volume can be listed as follows:
- Pepe (PEPE)
- Ordinals (ORDI)
- VMPX
- Float Protocol (Bank)
- domo
- MV
- NALS
- PIZA
- BREAST
- ELON
- B
- SHIB
- MOON
Differences Between BRC-20 and ERC-20
As mentioned earlier, these coins have some fundamental differences from Ethereum’s ERC-20. The key difference is that BRC-20 tokens are regulated on the Bitcoin blockchain secured by PoW, while ERC-20 tokens are regulated on the Ethereum blockchain secured by Proof-of-Stake (PoS). Additionally, BRC-20 coins have less features than ERC-20 tokens due to the lack of smart contract support in Bitcoin.
Despite the unexpected growth of BRC-20 transactions and mints, there are potential risks and flaws associated with this new trend. Memecoins are already risky and memecoins above this standard are seen as even more risky. The technical flaws of token tools and the meme-centric nature of these tokens make them highly volatile and speculative. Additionally, the unusual growth of BRC-20 transactions can overload the Bitcoin network and cause problems.
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