What's the difference between brc-20 and ordinals?

The inscription data contains a serial number that leads to the location of the Bitcoin-based NFT. What's important to note here is that Ordinals are non-fungible. BRC-20 tokens, on the other hand, are entirely fungible. This distinct difference is what makes BRC-20 tokens useful.

What is brc-20 & how does it work?

First developed in March 2023, by a pseudonymous programmer known as Domo, BRC-20 came out of a curiosity about the possibility of creating fungible tokens on Bitcoin following the launch of the network’s Ordinals protocol in January 2023. How Does BRC-20 Work? The functionality of BRC-20 tokens lies in the Bitcoin Ordinals protocol.

How big is a brc-20 token?

Compared to simple peer-to-peer transactions, creating and transferring BRC-20 tokens is complex and requires more space on the blockchain. A conventional bitcoin transaction might be measured in kilobytes, while an ordinal inscription – on which a BRC-20 token is layered – can be up to 4MB in size.

What is the bitcoin ordinals protocol?

The Bitcoin Ordinals protocol launched in January 2023, causing a commotion in the Bitcoin community due to what the protocol could offer: Bitcoin-based NFTs. While the Ethereum blockchain is known for its NFT support, the Bitcoin blockchain has never supported any crypto asset aside from Bitcoin itself.