Thread by @followin_io

💎 What is BRC20? Essential tools and wealth opportunities for mastering it.

BRC20 has become popular, gaining massive attention just over a month after its launch.

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🔥 In the past week alone, 500,000 inscriptions have been minted, and even ordi and other MEME have increased by 9 times since April.

Now, let's explore it together:

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1. What is BRC20?
BRC-20 is a token standard based on the Bitcoin network, similar to the ERC-20 in the Ethereum. It was created by @domodata on Mar 8.
It utilizes 𝗢𝗿𝗱𝗶𝗻𝗮𝗹 𝗶𝗻𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝗼𝗻𝘀 of 𝗝𝗦𝗢𝗡 data to deploy token contracts, mint and transfer tokens.

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Essentially, BRC-20 inscriptions are of a text-based type and are implemented based on the ordinal protocol; whereas the previously more focused BTC NFTs on the ordinal protocol are inscriptions of an image-based type.

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While Ordinals are nonfungible token (NFT)-like “digital artifacts” which carry data in the form of text, JPEG, PDFs, video and so on on the Bitcoin network, the BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts — similar to Ethereum’s ERC-20.

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So what are the main features of the 𝗕𝗥𝗖-𝟮𝟬 token?:
1)It can be transferred and traded using the Bitcoin network, but has nothing to do with the value of the Bitcoin itself
2)It can be stored and traded in wallets and exchanges that support the Bitcoin network

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3)It specifies the basic elements of the token contract, including token name, symbol, total supply, decimal places, etc.
It can be used in various application scenarios, such as 𝗗𝗘𝗫, digital asset payment, etc. This sounds very imaginative.

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Through 𝗕𝗥𝗖-𝟮𝟬, we can see all kinds of tokens in the Bitcoin ecosystem, including the first A 𝗕𝗥𝗖-𝟮𝟬 token - $ordi
A total of 21000000 $ordi has received extensive attention.
@unisat_wallet and other wallets were quickly deployed and supported BRC-20.

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2. BRC20 VS ERC20
Compared to ERC20, Bitcoin's BRC-20 tokens do not have the ability to interact with smart contracts , while ERC-20s do.

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Other limitations of the BRC-20 tokens compared to those of Ethereum is that they cannot have decimals, they cannot be burned or frozen, and they cannot have additional functions such as approval or delegation.

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3. How to mint BRC-20 tokens Interested in BRC20 after learning about it? You can learn how to mint BRC-20 tokens here
followin.io/feed/4044824

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4. Essential tools for BRC20 And here are some commonly used websites for #BRC20 tokens and BTC #Ordinals NFTs:
1.brc-20.io - BRC20 token prices and market cap data
2.unisat.io/brc20 - BRC20 token list and holders, as well as transaction data

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3.unisat.io/market - BRC20 token trading market (temporarily suspended for repair due to an attack)
4.ordinalswallet.com - Well-established Ordinals trading market
5. magiceden.io/ordinals - Mainstream Ordinals launch and trading platform

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6. ordspace.org - Data for various Ordinals series
7. unisat.io/download - Commonly used open-source browser extension wallet for playing with Ordinals and BRC20
8. okx.com/web3 - The first multi-chain wallet to support Ordinals protocol BTC NFTs… twitter.com/i/web/status/1…

5. Investment Opportunities The ecosystem is currently gaining more and more attention, with tokens like #ordi, #pepe, and #punk showing promising data, and at the same time, NFTs such as Ordinal Punks are worth continued focus.

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Moreover, the infrastructure in this field is rapidly improving and emerging — the earlier you get involved, the greater the opportunity.

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Regardless, this is believed to be a huge market with tremendous wealth opportunities. We recommend using our followin.io to keep track of developments, and we will set up a dedicated section to help you monitor them.

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