GHSY: What Is It and How Does It Work?

GHSY - An Overview

GHSY is an inscription token that is issued on the Bitcoin blockchain, utilizing the Ordinals protocol. It has a total supply of 21 million bitcoins, which can be subdivided into 100 million satoshis (the smallest denomination of a Bitcoin), resulting in a total of 2100 trillion satoshis. The Ordinals protocol is used to create inscriptions by writing content to each satoshi, including text, pictures, audio, video, and more.

GHSY has a total supply of 33,330,000 tokens. As a 100 percent mintable token, it is an attractive option for trading and investment, particularly for those interested in meme tokens.

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What Is BRC-20?

BRC-20 is a novel token standard built on the Bitcoin network using ordinals and inscriptions. You may have heard about the OnChain Monkey and Bitcoin Punks NFT collections on the Bitcoin network, which caused a stir in the crypto world in early 2023. However, the hype around these projects quickly faded as they became easy to reproduce and suffered from dwindling demand.

The BRC-20 token is different. It offers a new way of creating tokens on the Bitcoin network that is sure to capture the attention of the crypto community. BRC-20 tokens are primarily designed to work in a similar manner to ERC-20 tokens, which are used on the Ethereum network.

Some may argue that inscriptions and Ordinals were not intended for this purpose, and that BRC-20 tokens are a speculative use of the technology. Nonetheless, BRC-20 tokens have the potential to revolutionize the world of cryptocurrency, and it will be interesting to see how they are used in the future.

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