The BRC-20 standard is an experimental Bitcoin network homogeneous token standard, developed by Twitter user @ Posted by domodata on March 8, 2023.

It leverages JSON data inscribed on the Bitcoin network to deploy token contracts, mint tokens, and transfer tokens.

BRC-20 is a Token issuance standard that imitates ERC-20 but is implemented on the Bitcoin network. BRC-20 is based on the Bitcoin NFT inscription and stipulates the information rules attached to each Satoshi to facilitate different users/developers/wallets to use unified rules for interaction/transaction and other behaviors.

As of now (May 2023), there are nearly 10,000 currencies issued using BRC-20 on the Bitcoin network. The largest one and the first one issued is $ORDI . As of 5/4/23, ORDI's market cap was $63 million. The next closest distributions are PEPE and MEME, with market caps of $11.8 million and $6.2 million respectively.

Q&As

Where can I find information about the BRC-20 currency?

You can find a list of all BRC-20 currencies on this website brc-20.io.

What wallet should I use to buy/keep my Bitcoin NFTs?

You can use the unisat wallet, which you can find on the unisat.io website.

Can I use my original Bitcoin wallet?

We do not recommend this. First, you need a Bitcoin wallet that is compatible with Bitcoin NFTs, otherwise you won’t be able to see your NFTs or BRC-20 tokens.

Secondly, when you make any transaction, you don't want to accidentally end up with data-engraved Satoshi as a gas fee. In this case, you would be transferring your Bitcoin NFT or BRC-20 tokens to a Bitcoin miner.

Want to know more about Bitcoin NFTs, especially the technical details? You can try reading the article we wrote in MarchBTC Ordinals What is it? Can I still buy it?

If you want an explanation that even a complete beginner can understand, you can check outWhat exactly are Bitcoin NFTs, BRC20 and Ordinal?