About BRC20, everything you want to know is here

The encryption market in May was ignited by the meme sector, and then drove the popularity of the Bitcoin ecosystem BRC-20 Token to remain high. According to data from Dune Analytics, the BRC-20-related transaction (minting, transfer, and deployment) fee on May 8 reached a record high of 255 BTC, and accounted for more than 40% of all transaction fees on Bitcoin on that day. Since this gameplay mode is relatively new, and most readers don't know much about the Bitcoin ecosystem,   Rhythm BlockBeats summarizes some relevant information and websites for everyone, do a good job of investigation and judgment before entering.

1) Popular Science & Tutorial

"How to play with BRC-20"

BTC concept of cryptocurrency What? Perhaps the first thing that comes to your mind is the derivative currency based on the fork of the BTC ecology, such as BTD (Bitcoin Diamond), BTK (Bit King), BTF (Bit Faith), etc... This statement was not counted before this year. wrong. But this year, since the BTC ecosystem launched the Ordinals protocol, it is no longer accurate. The birth of the BRC-20 standard and the emergence of related Tokens mean that BTC is no longer simply regarded as "the benchmark of the Web3 world, a beautiful but old antique." Instead, it really has the impetus for development and innovation.

Now that related concepts are in the ascendant, we can't help asking: What exactly is the BRC-20 standard? How is it different from the ERC-20 standard? How does the Ordinals protocol differ from the traditional Omni protocol?

《Brc20 Nanny Casting Tutorial》

How to participate in BRC-20 Token casting? Nanny-level tutorials teach you how to learn from scratch.

2) Projects & Tools

BRC20 project summary website: https://brc-20.io/market 

BRC-20 wallet: https://unisat.io 

Ordinals native wallet: https://ordinalswallet.com/wallet 

Market: https://ordswap.io 

Mint Tools: https://looksordinal.com 

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Browser: https:/ /ordiscan.com

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3) Ecological Summary

《Bitcoin NFT Protocol Ordinals Ecological Summary》

The protocol named Ordinals will be officially launched on December 14, 2022 , which utilizes the technical characteristics of Segregated Witness (SegWit) and Taproot3 on the Bitcoin network to realize the direct casting, transfer and destruction of NFT on the Bitcoin chain. Since its launch, the Ordinals protocol has attracted many developers and users to participate, and spawned a series of projects and applications based on the protocol. Over 300,000 NFTs have been minted on the Ordinals protocol and counting. This article will further review and interpret BTC NFT ecological projects.

《Issuing coins, buying domain names, Bitcoin NFT What is ecology doing? "

In the market environment where the ETH NFT market is getting colder, more and more players are turning their attention to the Bitcoin NFT market. Although the popularity of the Bitcoin NFT market continues to rise, many players are still lingering outside the gate of the Bitcoin NFT world. In addition to the high learning threshold caused by the imperfect infrastructure, one of the problems is being unfamiliar with the current project trend in the Bitcoin NFT market. Rhythm BlockBeats will sort out the main categories of current Bitcoin NFT projects for you in this article. What are Bitcoin NFT players playing? Let's take a look.

《This may be the first for the Bitcoin Ordinals community A Gathering》  

Since the Ordinals protocol was officially launched on January 29, more than 1.1 million "inscriptions" have been burned, and these more than 1.1 million Satoshi (Bitcoin The smallest unit of "Satoshi") has been completely different since then. But in the daily communication, I still feel that many players are unfamiliar with Bitcoin NFT. How many people know about Bitcoin NFT? How interested are you in Bitcoin NFT? What do you think about Bitcoin NFT? At the Hong Kong Web3 Summit, the author of Rhythm BlockBeats looked for these Bitcoin communities offline to see the current development scale?

4) Opinion, current situation and risks

"Binance Research: Bitcoin opens a "new era""

Although the smart contract  Layer‑1 Still grabbing the headlines, Bitcoin retains its dominance of the cryptocurrency market capitalization leaderboard. Ordinal numbers and inscriptions that appear in early 2023 may hold some answers. Inscription has had a significant impact on Bitcoin’s on-chain metrics, with transaction fees trending upwards. Perhaps most importantly, the pace of innovation is picking up, with developers releasing updates left, right, and center. As Bitcoin activity increases and a plethora of new use cases emerges, scalability issues naturally follow. How will Bitcoin handle increased traffic?

Mature Bitcoin smart contract market, Bitcoin rollup and the upcoming Bitcoin halving are some of the key themes that we conclude this report with.

《BRC upsurge, retail investors are the last carnival"? "

The annual "meme season" is here again. This is a "season" of anxiety. The stories of wealth and freedom seem to be happening constantly, and the FOMO emotion of being afraid of not being able to "get on the bus" can overcome all unknown fears. This is a "season" of self-doubt. Players who like to buy tokens based on fundamentals are prone to self-doubt, and those who work hard to support projects are prone to self-doubt. Manufacturing stories in batches, colliding successfully in quantity, everything is so "weightless". How confusing it is to work so hard to operate a project to build success in multiple directions. Actually, there is nothing new under the sun. It's just that this time there is a new "casino" - the BRC-20 on the Bitcoin mainnet.

《BRC-20 Token Seven Can’ts The Risk of Ignoring"

We are open to BRC-20, neither negating its future potential nor earnestly sending a voice of caution. We encourage readers to think independently and make informed decisions based on a variety of viewpoints. For now, read on to learn about the author's concerns about BRC-20 tokens and the associated risks.

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