BRC-20

BRC-20 is a token standard designed for the Bitcoin blockchain, enabling the creation of fungible tokens similar to Ethereum's ERC-20 standard. It leverages ordinal inscriptions and operates within the Bitcoin network, which historically was not built for tokens other than Bitcoin. BRC-20 allows the minting and transferring of tokens on Bitcoin using a specific JSON inscription to define properties like the token's supply and minting process. With the rise of decentralized finance (DeFi) and the need for a more versatile use of Bitcoin's blockchain, BRC-20 introduces new functionalities to Bitcoin beyond simple transactions. While BRC-20 tokens are still in the experimental stage, they signify a shift towards increasing Bitcoin's utility in the decentralized ecosystem.