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In recent months, the BRC20 token standard has gained widespread attention in the Bitcoin ecosystem following the rise of Ordi Coin to $69. This standard is based on satoshis and reflects a situation where experts have different opinions. Some see this as a possibility, while others argue that it is impossible. However, while we are walking among those who say “will it, will it not, impossible, this is the future”, I want to remind you of an important point.
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It is a fact that even a cryptocurrency like Doge Coin, which has no clear purpose, has gained 1000 times in value. It has provided investors with significant profits. Therefore, it is one of the most important advantages of an investor to move forward without feeling emotional attachment to any project or coin. We, rather than the creators of the projects, evaluate the hype in the market. Those who are interested in the future of the project are usually the team involved in the project. Our focus is on how to make a profit.
BRC20
The BRC-20 token standard is an experimental token standard developed to enable the creation and transfer of NFTs on the Bitcoin blockchain. The basic feature of this standard is to create the unique identities of NFTs using ordinals. BRC-20 has a structure very similar to the ERC-20 token standard, which is widely used in Ethereum (ETH) and other EVM blockchains.
However, its being specifically designed within the Bitcoin ecosystem makes it possible for NFTs to be processed in a unique way on the Bitcoin blockchain.
DRC20
The term “DRC 20” stands for “Replaceable Token Standard 20”. It is a protocol that defines how cryptocurrencies and digital assets (tokens) will be processed as a standard. DRC 20 is a token standard that is specifically used on the Ethereum blockchain.
The DRC 20 standard enables the creation, transfer, and management of tokens through Ethereum smart contracts. This standard allows different cryptocurrencies and digital assets to work and interact with each other in a compatible way.
SRC20
SRC-20, or Bitcoin Stamps as it is popularly known, is a standard that offers a unique layout method for adding data to the Bitcoin blockchain. SRC-20 offers a different approach from the writing technologies used by Ordinals, and is used to create fractional NFTs under the name STAMPS and store this data in Bitcoin nodes.
However, due to the block space and resources required by this method, the recommended use case for STAMPS is focused on contents in PNG or GIF format with 24×24 pixels and 8-bit color depth, which can form an entire NFT and be sold in different sections according to the size of the image.
Conclusion
BRC20, DRC20, and SRC20 are all promising token standards that have the potential to revolutionize the way cryptocurrencies and digital assets are used. However, it is important to do your own research before investing in any of these tokens.