Cryptocurrency Q&A
What does brc 20 stand for?
What does brc 20 stand for?
CryptoConqueror
Sun Jun 23 2024
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5 answers
1558
Excuse me, I'm curious about a term I've come across in the cryptocurrency and finance world, 'BRC 20'. Could you please enlighten me on what it stands for? I've noticed it mentioned in some recent discussions but have yet to find a clear definition. Is it a specific token, a standard, or something else entirely? Any insight you could provide would be greatly appreciated as I strive to stay informed in this rapidly evolving field. Thank you for your time and assistance.
5 answers
CryptoPioneer
Tue Jun 25 2024
At its core, BRC-20 enables the issuance and transfer of fungible tokens, meaning tokens that are interchangeable and have equivalent value.
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PulseWind
Tue Jun 25 2024
The name "BRC-20" derives from "Bitcoin Request for Comment," indicating its status as an experimental proposal within the bitcoin community.
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Bianca
Tue Jun 25 2024
This standard is analogous to the ERC-20 token standard, which is widely used on the ethereum (ETH) and EVM blockchain networks.
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alexander_jackson_athlete
Tue Jun 25 2024
BRC-20 is a groundbreaking token standard that introduces novel functionalities to the bitcoin blockchain.
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CryptoTamer
Tue Jun 25 2024
While ERC-20 tokens have gained significant traction in the crypto space, BRC-20 aims to replicate that success on the bitcoin blockchain, leveraging its established security and decentralization.
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