What is the inscription brc20

BRC-20 is a Token issuance standard on Bitcoin. It stipulates the name, circulation, transfer and other functions of Token issued on Bitcoin. It was published by community enthusiast @domodata on March 8, 2023 Created, more than 30,000 "inscriptions" were minted on the second day of BRC-20's founding, March 9, of which the number of text type "inscriptions" was close to 27,000.

BRC-20 is a Token issuance standard on Bitcoin. It stipulates the name, circulation, transfer and other functions of Token issued on Bitcoin. It is composed of Created by community enthusiast @domodata on March 8, 2023, more than 30,000 "inscriptions" were minted on March 9, the second day of BRC-20's founding, of which the number of text type "inscriptions" was close to 27,000.

The creator of BRC-20 emphasized that this is just an experiment, which aims to test whether tokens can be minted and transferred through the Bitcoin NFT Ordinals protocol, and whether it can promote the "fungibility" of Bitcoin.

ordi is the first BRC-20 Token to be deployed. Each minting is limited to 1,000 and the total amount is 21 million. Ordi has increased more than 100 times since its issuance.

Currently popular BRC-20 Tokens include pepe, punk, bayc, domo and other Memecoins. OTC transactions are active. Due to the attraction of speculative value and wealth effect, a large number of users download BTC wallets and enter the BTC ecosystem. .

In BRC-20, developers can create and issue Tokens on the blockchain through the Ordinal protocol. The inscription is also used as the accounting ledger of BRC-20Token, which can be used to track each token transfer.

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