"$Ordi Price Breaks $23, Market Cap Tops $500 Million"

"Cryptocurrency announced that its NFT marketplace will support the Bitcoin NFT protocol Ordinals in late May"

"Bitget will soon go live with Ordinals (ORDI)"

"Gate has gone live with Ordinals (ORDI) at 10:00 today"

The cryptocurrency circle is occupied by "$ORDI"; the star public chains Sui and Sei are all compared to each other in the same period. The initial release is free, users only need to pay the chain minting Gas fee to get a large number of ordi tokens. Suppose a user minted 1,000 ordi at the beginning of the issue, now it is worth nearly 10,000,000U.

With soaring coin prices and the rapid development of the BRC20 standard, BRC20 has now become the new narrative story of the crypto market, gaining traction with users, project parties, and CEXes. So what exactly is BRC20? As ordinary users, how do we participate in this new wealth code?

What is BRC20?

The BRC -20 token standard is an experimental alternative token standard for Bitcoin created by Twitter user @domodata on March 8, 2023.

BRC20 is a new token standard developed based on the Bitcoin network's native Ordinals protocol, a scheme for numbering the smallest units of the Bitcoin network, "satoshi", and on the Bitcoin network's NFT protocol, where "satoshi A "satoshi" is the basic unit in the Bitcoin network, and one "satoshi" is always equal to 100 millionths of a bitcoin.

The Ordinals protocol assigns a unique sequence number to each satoshi based on the order in which it is mined, giving it a non-homogeneous property, and follows a First-in-first-out rule. Since both the numbering scheme and the transfer scheme rely on sequences, the protocol is named Ordinals.

The Ordinals protocol runs on Bitcoin's core full node and allows users to bind any data, such as text, images, video, etc. to a single "satoshi" and add it to a Bitcoin transaction to form an inscription. Based on the Ordinals system, these "satoshi" can be tracked. Because of the uniqueness, permanence, and traceability of these inscriptions, the Bitcoin NFT was derived. the Ordinals protocol does not rely on sidechains or tokens outside of Bitcoin and can be used without any changes to the Bitcoin network.

BRC20 is also essentially a Bitcoin NFT, which is a set of fixed-format data that is stamped onto a "satoshi", transforming the "satoshi" into a digital asset with custom properties and rules. With the agreed-upon data format for deploying, minting, and transferring tokens, users can use the Ordinal protocol to inscribe inscriptions on "Satoshi" in a fixed format to enable token deployment, minting, and transfer functions. Together with the corresponding indexing tools, the entire process of issuing and circulating tokens based on the Bitcoin network can be implemented.

How to Mint BRC20 Tokens?

BRC20 mainly provides 3 standards for Bitcoin network to issue tokens, including BRC20 token deployment deploy, minting Mint, transfer Transfer, etc. Developers can create and issue BRC20 tokens by following this standard implementation.

In the case of ORDI token creation, users can create the token by simply entering the code under the figure.

‍

This figure represents the JSON data text of the deployment ordi token input, the total number of issues is 21 million, and the maximum limit of 1000 tokens per mint. Among them, user can change the field after "op" to represent the operation performed, Deploy means token deployment, Mint means token minting, Transfer means token transfer; "Tick" means which name of token is performed. The user can input the name of the token to be executed.

How to Trade BRC20?

Bisoswap, the first BRC-20-based swap platform, is a swap protocol developed based on the Ordinal protocol, which provides liquidity to the BRC-20 ecosystem.

Step1： Add liquidity

Step2： Swap

Step3： Remove liquidity

Bisoswap, addresses the lack of liquidity in BRC20 by increasing the liquidity pool for LP transactions and enabling real-time trading.

Bisoswap uses the AMM mechanism to make the first DEX in the BRC20 protocol, where users can add LPs using tokens to gain liquidity for transactions and receive fee incentives. According to the official website, it will provide node services for all users in the future to enjoy lower GAS and more convenient trading services.

BRC20 Tokens Represent

$ORDI

BRC20 first TOKEN

Online time:2023/3/8

Price:$23.66

MC:$505 million

$OMNI

The first TOKEN in BTC history, Genesis protocol

Time to go online:2013/9/1

Price:$0.05

MC:$1,209,600,000

$PIZA

The first commercial consensus transaction in BTC history

Launched: 2010/5/22

Price:$0.53

MC:$11,188,000

$WZRD

BTC community wizard culture

Online time:2019 birth to date

Price:$0.13

MC:$278.2k

BRC20 Tools

Brc-20 casting website:

Unisat: https://unisat.io/inscribe

iDclub: https://vip.idclub.xyz/brc20

LooksOrdinal: https://looksordinal.com

Ordinals Inscription Cost Calculator:

CryptoCell Labs: https://hub.cryptocell.guru/ordinalsturbo/

Brc-20 Token Price Check:

OrdSpace: https://ordspace.org/brc 20

BRC-20.io: https://brc-20.io 

Check account balance:

BRC-20.io: https://scan.brc-20.io/index?address=

Check BTC outgoing blocks and gas status:

Mempool: https://mempool.space/zh/

Brc-20 trading market:

bisoswap: www.bisoswap.com

Unisat: https://unisat.io/market

Ordinals Wallet: https://ordinalswallet.com/brc 20

Overall, the BRC20 standard has attracted a lot of attention across the cryptocurrency industry. By using the Ordinal theory, the standard offers a new solution for the trading and management of digital assets. However, as time and technology evolve, the future of BRC20 remains uncertain. Regardless, the BRC20 standard will become an important part of the Bitcoin ecosystem and continue to lead the crypto industry.