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

FSP	$0.{10}7167 0.{7}8700 Sats	$153,834.68 1.83	$0.00 0.00	2100.00T	100.00%	1,144	1,600
21MM	$1.32 1,599 Sats	$27.66M 335.76	$152.53 0.002084	21.00M	100.00%	2,737	532
π	$0.{6}7991 0.0009700 Sats	$79,934.99 0.9703	$352.27 0.004814	100.00B	100.00%	1,004	2,119
₿	$0.007085 8.6 Sats	$157,747.96 1.81	$0.00 0.00	21.00M	100.00%	799	140
Ν	$0.{9}6096 0.{6}7400 Sats	$1.49M 15.56	$33,696.66 0.4605	2100.00T	100.00%	2,781	2,931
JGN	$0.0008073 0.9800 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	622	226
FC2	$0.{13}8240 0.{9}1000 Sats	$934,639.85 10	$0.00 0.00	10000000.00T	100.00%	618	784
BSC	$0.{6}4943 0.0006000 Sats	$0.00 0.00	$0.00 0.00	210.00B	100.00%	600	75
16MM	$0.007414 9 Sats	$7.41M 89.99	$227.25 0.003106	1000.00M	99.99%	603	293
▣	$0.001730 2.1 Sats	$44,184.6 0.4448	$0.00 0.00	21.00M	100.00%	430	105
BSC	$0.{5}4119 0.005000 Sats	$0.00 0.00	$0.00 0.00	210.00B	100.00%	349	11
VDS	$0.0004119 0.5000 Sats	$0.00 0.00	$0.00 0.00	2.10B	100.00%	344	3
WOW	$0.8238 1,000 Sats	$0.00 0.00	$0.00 0.00	10,000	100.00%	339	516
GUO	$5.27 6,399 Sats	$0.00 0.00	$0.00 0.00	10,000	100.00%	339	630
π+	$0.{11}5767 0.{8}7000 Sats	$21,389.87 0.2197	$0.00 0.00	3141.59T	100.00%	322	908
GOD	$55.2 67,000 Sats	$50,312.65 0.5292	$0.00 0.00	777	100.00%	302	47
520	$0.003542 4.3 Sats	$0.00 0.00	$0.00 0.00	5.20M	100.00%	288	201
Pis	$0.{8}8238 0.{4}1000 Sats	$0.00 0.00	$0.00 0.00	314.16B	100.00%	285	177
ZOO	$0.001648 2 Sats	$0.00 0.00	$0.00 0.00	100.00M	100.00%	283	54
Ψ	$0.{8}2389 0.{5}2900 Sats	$6.16M 61.21	$0.00 0.00	2100.00T	100.00%	280	28
π	$0.{10}8238 0.{6}1000 Sats	$295,299.51 3.13	$0.00 0.00	3141.59T	100.00%	249	102
BOT	$0.{12}4943 0.{9}6000 Sats	$0.00 0.00	$0.00 0.00	21000.00T	100.00%	239	-
Pai	$0.{11}8073 0.{8}9800 Sats	$32,439.98 0.3090	$0.00 0.00	3141.59T	100.00%	239	123
sa	$0.{9}4943 0.{6}6000 Sats	$0.00 0.00	$0.00 0.00	2100.00T	100.00%	227	60
Hat	$0.{7}3707 0.{4}4500 Sats	$9,169.42 0.09443	$0.00 0.00	210.00B	100.00%	193	16
BOB	$0.0004943 0.6000 Sats	$0.00 0.00	$0.00 0.00	69.00M	100.00%	174	45
Wom	$0.001178 1.43 Sats	$0.00 0.00	$0.00 0.00	1000.00M	100.00%	174	36
imx	$0.04531 55 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	169	29
Bi	$0.0001565 0.1900 Sats	$0.00 0.00	$0.00 0.00	210.00M	100.00%	155	32
B²	$0.0004449 0.5400 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	143	24
DUO	$0.7315 888 Sats	$0.00 0.00	$0.00 0.00	8,888	100.00%	142	20
웃	$0.{13}8240 0.{9}1000 Sats	$36,323.77 0.4191	$0.00 0.00	420000.00T	100.00%	1,713	1,097
CN	$0.{4}1318 0.01600 Sats	$0.00 0.00	$0.00 0.00	1.43B	100.00%	134	54
༒	$0.0001195 0.1450 Sats	$3,979.37 0.04204	$0.00 0.00	21.00M	100.00%	127	20
COQ	$0.04366 53 Sats	$0.00 0.00	$0.00 0.00	210.00M	100.00%	119	-
PIN	$0.{7}1854 0.{4}2250 Sats	$0.00 0.00	$0.00 0.00	210.00B	100.00%	108	1
龙	$0.0005767 0.7000 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	104	41
龙	$0.001153 1.4 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	102	102
☠	$0.{4}2306 0.02799 Sats	$18,366.94 0.1869	$0.00 0.00	666.67M	100.00%	352	164
Go	$0.0007414 0.9000 Sats	$0.00 0.00	$0.00 0.00	210.00M	100.00%	93	3
19MM	$0.05931 72 Sats	$0.00 0.00	$0.00 0.00	1000.00M	99.99%	91	38
KAS	$0.01318 16 Sats	$0.00 0.00	$0.00 0.00	1,000,000	100.00%	83	5
MVP	$0.006673 8.1 Sats	$0.00 0.00	$0.00 0.00	2.10M	100.00%	79	9
$ π	$0.{5}3954 0.004800 Sats	$16,140.97 0.1506	$0.00 0.00	3.14B	100.00%	75	11
786	$0.02471 30 Sats	$0.00 0.00	$0.00 0.00	1,000,000	100.00%	72	-
HOT	$0.{10}5437 0.{7}6600 Sats	$0.00 0.00	$0.00 0.00	100.00T	100.00%	71	12
DeAI	$0.{6}8238 0.001000 Sats	$0.00 0.00	$0.00 0.00	100.00B	73.20%	64	9
PUPS	$0.1318 160 Sats	$0.00 0.00	$0.00 0.00	7.77M	99.99%	60	15
WIF	$0.0009886 1.2 Sats	$0.00 0.00	$0.00 0.00	21.00M	100.00%	58	-
$AIS	$0.004943 6 Sats	$0.00 0.00	$0.00 0.00	21.00M	99.99%	55	6

BRC-20 market price

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