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

ASIA	$0.{5}6756 0.007000 Sats	$30,579.44 0.3169	$1,628 0.02586	4.50B	100.00%	2,328	514
BUTT	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	18446744.07T	0.00%	15	-
nice	$0.3175 329 Sats	$0.00 0.00	$592.28 0.009409	69,420	100.00%	129	5
ordl	$0.0002413 0.2500 Sats	$86,785.58 0.8416	$574,578.32 9.13	210.00M	100.00%	717	613
ASIC	$7.22 7,485 Sats	$0.00 0.00	$34.29 0.0005447	1,337	100.00%	174	1
ORCH	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.35%	3	-
roku	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	-	-
hsbc	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	2.09%	14	-
mama	$0.001399 1.45 Sats	$25,900.27 0.3052	$18,430.37 0.2928	21.00M	100.00%	353	148
pope	$0.0005019 0.5200 Sats	$15,853.57 0.1643	$0.00 0.00	31.41M	100.00%	300	179
DAWG	$568.34 588,888 Sats	$0.00 0.00	$0.00 0.00	420	100.00%	45	-
HART	$9.65 10,000 Sats	$0.00 0.00	$0.00 0.00	1,000	100.00%	101	-
8bit	$0.0002799 0.2900 Sats	$25,887.36 0.2682	$0.00 0.00	88.89M	100.00%	361	267
🐧	$3.67 3,800 Sats	$0.00 0.00	$4,616.3 0.07333	1,996	100.00%	91	11
ethf	$5.68 5,888 Sats	$0.00 0.00	$857.87 0.01363	9,999	100.00%	397	5
cafe	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	2100.00T	0.00%	5	-
look	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	400.00M	100.00%	1	-
univ	$0.7229 749 Sats	$0.00 0.00	$38,561.01 0.6126	100.00M	100.00%	65	40
hive	$0.0006177 0.6400 Sats	$12,898.73 0.1343	$0.00 0.00	21.00M	100.00%	660	59
BitB	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	782,837	100.00%	2	-
TWTR	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	4	-
AIOT	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	5	-
btpk	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.02%	1	-
🥪	$40,877.43 42.36M Sats	$0.00 0.00	$0.00 0.00	123	100.00%	21	-
DUSD	$3.39 3,880 Sats	$0.00 0.00	$174.47 0.002772	1000.00M	100.00%	5	3
PUPS	$0.7721 800 Sats	$5.82M 68.2	$71.48M 1,135.51	7.77M	100.00%	2,555	12,225
DEEZ	$0.002027 2.1 Sats	$0.00 0.00	$24,171.17 0.3840	7.77M	100.00%	281	108
snak	$57.91 60,000 Sats	$0.00 0.00	$8,087.23 0.1285	1,000	100.00%	45	17
damo	$0.005791 6 Sats	$0.00 0.00	$19,092.73 0.3033	21.00M	100.00%	321	72
MUMU	$0.{4}7624 0.07900 Sats	$0.00 0.00	$195.81 0.003111	21.00B	1.72%	146	3
Duck	$10.62 11,000 Sats	$38,436.72 0.3675	$12,956.02 0.2058	3,333	100.00%	85	34
BTCZ	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	123,456	1.83%	16	-
$bts	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	1	-
BAPP	$0.002779 2.88 Sats	$60,601.41 0.6279	$0.00 0.00	21.00M	100.00%	384	403
rssc	$0.02799 29 Sats	$0.00 0.00	$110,586.02 1.76	21.00M	100.00%	568	155
0690	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	210.00M	100.00%	1	-
PUFF	$0.001158 1.2 Sats	$0.00 0.00	$2,686.03 0.04267	42.00M	100.00%	284	17
bili	$0.06273 65 Sats	$111,621.21 1.37	$3.95M 62.72	2.10M	100.00%	3,185	3,084
FIST	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	16	-
PZZA	$0.7721 800 Sats	$0.00 0.00	$1,133.43 0.01801	10,000	100.00%	156	1
goal	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	1	-
sole	$0.3017 312.63 Sats	$0.00 0.00	$377.7 0.006000	210,000	100.00%	94	-
8848	$0.0003860 0.4000 Sats	$37,153.94 0.3514	$415,773.17 6.6	88.48M	100.00%	325	474
croc	$0.001351 1.4 Sats	$0.00 0.00	$6,180.55 0.09818	21.00M	100.00%	139	32
sold	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.08%	12	-
fdic	$0.{11}9651 0.{7}1000 Sats	$0.00 0.00	$0.00 0.00	1000000.00T	13.06%	30	-
chen	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	4	-
bolt	$0.0006756 0.7000 Sats	$0.00 0.00	$3,882.65 0.06168	21.00M	100.00%	213	13
DUDU	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	2.10B	0.04%	17	-
EDEN	$0.005694 5.9 Sats	$0.00 0.00	$8,592.26 0.1365	5.00M	100.00%	229	44

BRC-20 market price

About BRC-20 price

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