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

hash	$0.006144 7.3 Sats	$129,745.73 1.54	$635,017.21 10.09	21.00M	100.00%	624	523
mine	$0.005723 6.8 Sats	$0.00 0.00	$116,518.38 1.85	21.00M	100.00%	759	341
NODE	$0.01515 18 Sats	$324,998.16 3.79	$4.60M 73.13	21.00M	100.00%	2,952	4,183
moon	$0.002693 3.2 Sats	$270,292.04 3.21	$11.55M 183.45	100.00M	100.00%	6,692	3,822
capy	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	8.24%	316	-
ordz	$1.85 2,200 Sats	$0.00 0.00	$2,451.94 0.03895	690,420	100.00%	139	23
html	$2.39 2,840 Sats	$0.00 0.00	$764.01 0.01214	21.00M	0.07%	455	7
root	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	210.00M	0.00%	80	-
cake	$0.{4}7491 0.08900 Sats	$0.00 0.00	$18,528.73 0.2943	750.00M	100.00%	466	63
tron	$0.{6}6649 0.0007900 Sats	$73,159.21 0.7203	$8,538.32 0.1356	91.31B	100.00%	474	55
ord1	$0.003358 3.99 Sats	$79,616.02 0.8381	$249,438.8 3.96	21.00M	100.00%	617	534
aave	$0.01515 18 Sats	$255,316.16 3.2	$18,252.03 0.2899	16.00M	100.00%	527	665
atom	$0.0005050 0.6000 Sats	$15,041.53 0.1603	$168,465.74 2.68	21.00B	0.11%	1,079	284
dash	$0.0002441 0.2900 Sats	$4,887.47 0.05476	$0.00 0.00	18.92M	100.00%	218	19
usds	$0.{5}2525 0.003000 Sats	$0.00 0.00	$13,888.13 0.2206	100.00B	100.00%	197	45
xxxx	$0.{4}2525 0.03000 Sats	$0.00 0.00	$6,595.89 0.1048	1000.00M	100.00%	172	56
gbtc	$0.004208 5 Sats	$0.00 0.00	$218,992.41 3.48	21.00M	100.00%	231	463
near	$0.002525 3 Sats	$0.00 0.00	$0.00 0.00	1000.00M	7.75%	162	-
algo	$0.{6}4040 0.0004800 Sats	$4,054.38 0.04817	$0.00 0.00	10.00B	100.00%	410	42
jack	$0.004966 5.9 Sats	$0.00 0.00	$2,035.15 0.03233	10.00M	100.00%	109	11
flow	$0.{5}7322 0.008700 Sats	$10,731.59 0.1232	$0.00 0.00	1.42B	100.00%	314	92
gusd	$0.0002525 0.3000 Sats	$0.00 0.00	$0.00 0.00	1000.00M	100.00%	11	-
bone	$0.001204 1.43 Sats	$0.00 0.00	$0.00 0.00	250.00M	100.00%	324	177
rekt	$0.{4}8417 0.1000 Sats	$84,466.26 1	$15,008.93 0.2384	1000.00M	100.00%	471	59
dydx	$0.{4}2946 0.03500 Sats	$29,500.63 0.3498	$25,416.3 0.4038	1000.00M	100.00%	412	141
mina	$0.{5}3872 0.004600 Sats	$2,116.5 0.02016	$0.00 0.00	1.01B	100.00%	262	15
SUCK	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	21.00M	0.00%	53	-
iota	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	2.78B	1.71%	18	-
ethw	$0.0001599 0.1900 Sats	$22,027.08 0.2040	$82,034.13 1.3	107.82M	100.00%	400	221
zzzz	$6.73 8,000 Sats	$0.00 0.00	$0.00 0.00	1,337	100.00%	491	2
rune	$0.0005714 0.6789 Sats	$392,276.59 3.85	$1.03M 16.28	500.00M	100.00%	777	1,170
bets	$0.0006227 0.7399 Sats	$13,081.54 0.1550	$0.00 0.00	21.00M	100.00%	364	99
perp	$0.{4}8223 0.09770 Sats	$0.00 0.00	$0.00 0.00	1000.00M	14.80%	102	-
thor	$0.{4}7575 0.09000 Sats	$43,372.35 0.4500	$29,768.74 0.4729	500.00M	100.00%	265	107
base	$0.{4}4882 0.05800 Sats	$55,705.19 0.5805	$70,151.88 1.11	1000.00M	100.00%	801	244
gate	$0.0003367 0.4000 Sats	$0.00 0.00	$23,098.58 0.3669	300.00M	100.00%	339	110
core	$0.01007 11.97 Sats	$2.07M 24.54	$27.47M 436.42	203.98M	100.00%	14,303	29,592
open	$0.{5}2104 0.002500 Sats	$29,108.16 0.3000	$16,094.47 0.2557	10.00B	100.00%	763	115
swap	$0.{5}8417 0.01000 Sats	$0.00 0.00	$53,408.15 0.8484	10.00B	100.00%	973	217
card	$0.{4}1666 0.01980 Sats	$16,494.33 0.1983	$0.00 0.00	1000.00M	100.00%	468	90
$$$$	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	1,776	100.00%	42	-
rndr	$0.0007407 0.8800 Sats	$0.00 0.00	$0.00 0.00	531.02M	15.74%	215	-
avax	$0.{4}2777 0.03300 Sats	$23,503.55 0.2379	$280,200.35 4.45	720.00M	100.00%	557	365
earn	$0.{4}2104 0.02500 Sats	$46,431.79 0.4406	$164,651.25 2.62	1000.00M	100.00%	453	481
wooo	$0.00 0.00 Sats	$0.00 0.00	$0.00 0.00	1000.00M	4.10%	69	-
inch	$0.0001683 0.2000 Sats	$0.00 0.00	$0.00 0.00	1.50B	11.84%	120	-
comp	$0.0006312 0.7500 Sats	$6,348.05 0.07486	$0.00 0.00	10.00M	100.00%	275	16
mana	$0.{5}8652 0.01028 Sats	$22,079.01 0.2275	$10,573.91 0.1680	2.19B	100.00%	205	90
lido	$0.{4}1515 0.01800 Sats	$0.00 0.00	$5,199.29 0.08259	1000.00M	100.00%	201	60
fuel	$0.{4}1414 0.01680 Sats	$12,382.35 0.1299	$0.00 0.00	1000.00M	100.00%	291	25

BRC-20 market price

About BRC-20 price

All BRC-20 tokens

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