Introduction
BRC-20 tokens are an experimental and inefficient token standard designed for creating fungible tokens on the Bitcoin blockchain. Inspired by Ethereum’s ERC-20 tokens, BRC-20 tokens leverage the Bitcoin Ordinals protocol to inscribe data onto individual satoshis, making them transferable and tradable.
Origins of BRC-20 Tokens
The BRC-20 token standard was introduced by a pseudonymous developer named Domo in March 2023. This development came shortly after the launch of the Bitcoin Ordinals protocol in January 2023 by Casey Rodarmor, which allowed users to inscribe data onto individual satoshis, enabling the creation of NFTs on the Bitcoin blockchain. The first BRC-20 token deployed was “ordi,” which quickly gained popularity and led to the creation of numerous other BRC-20 tokens.
The introduction of BRC-20 tokens aimed to bring the flexibility of fungible tokens to the Bitcoin network, similar to…
