Question 1

What is BRC-20?

Accepted Answer

Brief description of BRC-20 Standard: BRC-20 is an experimental standard showcasing the creation of fungible tokens on Bitcoin's Layer 1. This innovative approach employs ordinal theory and inscriptions to emulate fungibility.

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Historical context: Originating from a playful Dune dashboard concept and inspired by .sats names, BRC-20 tokens were introduced in March 2023. Since their inception, they have constituted about 3% of all Bitcoin transactions, gathered a user base of 250,000, and achieved over $150 million in on-chain and $3 billion in off-chain volume.

Question 2

What are the key features of BRC-20？

Accepted Answer

Primary Function: BRC-20 facilitates the creation, minting, and transaction of fungible tokens on the Bitcoin blockchain.

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Interoperability: The BRC-20 standard naturally integrates with ordinal and inscription systems. Currently, it can interface with other Bitcoin standards and Layer 1 blockchains, including Ethereum, Stacks, and more, through bridging, vaulting, or wrapping. The modular approach proposed here aims to further simplify this process and pave the way for integration with systems like the Lightning Network.

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Security measures: Operating on Bitcoin's Layer 1, BRC-20 tokens inherit its proven security mechanisms. Specifically, double spend is prevented by binding transferable balances to a single satoshi.

Question 3

What are the characteristics of BRC-20?

Accepted Answer

Inspired by composable semi-fungible assets; Prioritizes simplicity in every design decision for easy comprehension; Accessible to anyone with a Bitcoin wallet using inscription tools; Integrates the Bitcoin principle of first come first served, ensuring a fair and open minting mechanism; Eliminates the need for complex and expensive UTXO management; Implements unique tickers to enhance security and establish a digital namespace; Capable of leveraging PSBTs for trading and other mechanisms; Features an account-based model for flexible use beyond Bitcoin's Layer 1; Bitcoin; Includes a diverse and independent indexing pool.

Question 4

What are the use cases of BRC-20？

Accepted Answer

Bullish sentiment: Enthusiasm is returning to the Bitcoin market.

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Asset issuance: BRC-20 tokens can serve as digital representations of various assets, rights, or other fungible entities, including stablecoins, utility tokens, and meme-based tokens.

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dApp integration: Developers can seamlessly integrate BRC-20 tokens into decentralized applications (dApps) that harness the Bitcoin network. These applications span from yield generation and collateralized loans to staking.

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Tokenization: The BRC-20 standard facilitates the tokenization of diverse assets and rights, unlocking a wealth of possibilities, including token-gated communities and DAO voting.

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Exchange Mechanism: BRC-20 tokens can be readily traded on Bitcoin's Layer 1 network through various platforms. While currently available via order books, integration into liquidity pool swaps is on the horizon.

Question 5

How does BRC-20 compare to other standards?

Accepted Answer

The most widely adopted fungible standard on Bitcoin. Allows interaction without a dedicated wallet feature. Uses inscription tools, requiring only a Bitcoin wallet.

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BRC-20's immutable inscriptions offer a distinctive approach compared to mutable smart contracts on other platforms. Its account-based model reduces complexity, making it more cost-effective than UTXO-based fungible token standards that ensure fair mint distributions.

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Its simplicity makes it the easiest fungible standard to understand, access, and use on Bitcoin. It achieves legibility without relying on any encoding or hashing system.

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Characterized by open and free minting, its distribution ensures provable fairness without prior announcements or pre-mines. Replicating this approach in future standards poses a challenge. The use of exclusive tickers minimizes the risk of scams and misinterpretations. As it doesn't depend on UTXOs, the standard can seamlessly integrate with systems beyond Bitcoin. It avoids reliance on a singular indexing truth; instead, a diverse pool of indexers validates a consistent truth or state.

Question 6

How can I predict BRC-20 token prices?

Accepted Answer

There is no definitive way to predict cryptocurrency prices, given their high volatility and susceptibility to a wide range of factors. Analysts employ various methods, including analyzing market trends and sentiment, studying technical charts and indicators, and staying informed about news and developments in the cryptocurrency industry.

Question 7

Who decides how much a BRC-20 token is worth?

Accepted Answer

The value of a BRC-20 token is influenced by market supply and demand, the trading behavior of buyers and sellers on different exchanges, and external factors such as news, regulations, and overall market sentiment.

Question 8

What are the current top BRC-20 tokens?

Accepted Answer

Currently, the top BRC-20 tokens by market cap are: $ORDI, $SATS, $PEPE, $NALS, $VMPX, $MEME, $OXBT, $SHIB, $DOGE, and $XING.

Question 9

How can one interpret BRC-20 token prices?

Accepted Answer

Supply and demand: The fundamental economic principle of supply and demand significantly influences cryptocurrency prices. When there is high demand for a particular cryptocurrency and its supply is limited, the price tends to rise.

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Market Sentiment: The overall sentiment of the market can also impact cryptocurrency prices. If investors are bullish, the price will rise; if they are bearish, the price will fall.

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Regulation: Government regulations and laws can significantly impact cryptocurrency prices. If a government announces a crackdown on cryptocurrency trading, the price may drop. Conversely, if they announce plans to regulate or legitimize cryptocurrencies, the price may rise.

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Media coverage: The media can also have a significant impact on cryptocurrency prices. Positive news coverage tends to boost the crypto price, while negative coverage typically results in a decrease.

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Volatility: Cryptocurrency prices can be highly unpredictable, fluctuating dramatically due to factors such as market sentiment, regulations, or investor sentiment.

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Adoption: When more businesses, merchants, and individuals accept and trade cryptocurrencies, the crypto price tends to rise.

Question 10

How to read BRC-20 token prices?

Accepted Answer

Candlesticks are represented by two distinctive colors — green and red. Each stick has a body where the top wick indicates the highest price of a cryptocurrency during a specific time period, and the bottom wick displays its lowest price during the same period.

Tick	Price	Market cap	Volume (24h)	Supply	Minted	Holders	Transaction

cock	$0.{4}4723 0.05000 Sats	$0.00 0.00	$43,697.04 0.6942	1000.00M	100.00%	399	158
7777	$32.86 34,786 Sats	$0.00 0.00	$31.47 0.0005000	21.00M	0.00%	546	1
corn	$0.01275 13.5 Sats	$280,526.24 2.9	$2.57M 40.87	21.00M	100.00%	2,239	2,499
odog	$0.0008502 0.9000 Sats	$0.00 0.00	$30,628.45 0.4866	21.00M	100.00%	361	200
mega	$0.07557 80 Sats	$0.00 0.00	$272.57 0.004330	1,000,000	100.00%	295	2
btcm	$0.8813 933 Sats	$0.00 0.00	$0.00 0.00	777.78M	0.22%	188	-
zkln	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	20.00M	14.57%	114	-
vkln	$0.0006612 0.7000 Sats	$18,739.01 0.1933	$0.00 0.00	20.00M	100.00%	899	47
orti	$1.89 1,999 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	38	-
lisa	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	100.00M	0.00%	80	-
boge	$0.01572 21 Sats	$0.00 0.00	$0.00 0.00	100.00M	100.00%	3	-
Wizd	$0.001880 1.99 Sats	$0.00 0.00	$25,566.53 0.4061	21.00M	100.00%	484	177
xoxo	$0.0009446 1 Sats	$21,966.56 0.2148	$159,821.32 2.54	21.00M	100.00%	507	437
fren	$472.31 500,000 Sats	$0.00 0.00	$0.00 0.00	690,420	0.21%	353	-
arts	$0.003675 3.89 Sats	$0.00 0.00	$31,447.52 0.4996	21.00M	100.00%	431	181
star	$236.16 249,998 Sats	$0.00 0.00	$15,784.38 0.2507	1,111	100.00%	78	13
food	$0.001370 1.45 Sats	$33,734.48 0.3138	$13,455.67 0.2138	21.00M	100.00%	373	162
name	$0.0001606 0.1700 Sats	$15,364.41 0.1698	$6,709.34 0.1066	100.00M	100.00%	298	66
1337	$56.68 60,000 Sats	$0.00 0.00	$1,196.45 0.01901	1,337	100.00%	59	1
math	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	31.42M	0.00%	40	-
weth	$0.0009446 1 Sats	$0.00 0.00	$40,083.91 0.6368	100.00M	100.00%	1,123	164
wbtc	$37.79 40,000 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.01%	202	-
coke	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	69.00B	0.05%	90	-
luck	$0.007557 8 Sats	$0.00 0.00	$61,015.95 0.9693	21.00M	100.00%	1,107	149
elon	$0.01691 17.9 Sats	$0.00 0.00	$160,306.73 2.55	21.00M	100.00%	498	292
code	$17 18,000 Sats	$0.00 0.00	$532.55 0.008460	1,337	100.00%	120	3
HIGH	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	42.00M	0.85%	221	-
keks	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	1000.00M	0.02%	181	-
bots	$0.002078 2.2 Sats	$44,011.9 0.4697	$0.00 0.00	21.00M	100.00%	419	135
hell	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	666	100.00%	7	-
LIBZ	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	69.42B	100.00%	1	-
BSCI	$0.1417 150 Sats	$0.00 0.00	$2,600.67 0.04134	1,000,000	6.96%	85	5
RLTY	$0.{4}5742 0.06074 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	12	-
WGPT	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	10,000	100.00%	1	-
WUNI	$0.002184 3.33 Sats	$0.00 0.00	$0.00 0.00	100,000	100.00%	2	-
myf6	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	2	-
OPRO	$0.1010 106.86 Sats	$0.00 0.00	$0.00 0.00	8.00M	100.00%	6	-
Gas.	$0.{5}1134 0.001200 Sats	$0.00 0.00	$0.00 0.00	2100.00T	0.00%	10	-
sl0w	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	10.00M	100.00%	34	-
#GNG	$0.08407 89 Sats	$0.00 0.00	$31.45 0.0005000	1.69M	100.00%	1,109	1
$tip	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	99.00B	100.00%	1	-
BXNZ	$9.45 10,000 Sats	$0.00 0.00	$0.00 0.00	10,000	100.00%	286	-
hopp	$0.003708 3.93 Sats	$0.00 0.00	$0.00 0.00	2.10M	100.00%	157	-
qmch	$0.001209 1.28 Sats	$0.00 0.00	$32,590.65 0.5181	21.00M	100.00%	576	201
raph	$0.0009446 1 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	148	-
ZEPH	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	-	-
ORXC	$0.003681 3.9 Sats	$0.00 0.00	$0.00 0.00	100.00M	100.00%	45	-
RDEX	$0.05195 55 Sats	$0.00 0.00	$15.47M 245.89	100.00M	100.00%	2,505	4,309
1tea	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	10000.00T	100.00%	4	-
MMM$	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	2100.00T	100.00%	4	-

BRC-20 market price

About BRC-20 price

All BRC-20 tokens

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