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What is BRC20

BRC20 is an experimental format standard for issuing homogeneous Tokens on the Bitcoin network. It was published by @domodata on March 8, 2023 based on the Ordinal Protocol created. Similar to the ERC20 standard of Ethereum, it stipulates the name, circulation, transfer and other functions of Token issued on Ethereum.

BRC-20 leverages the Ordinals inscription in JSON format to deploy token contracts, mint tokens, and transfer tokens.The Bitcoin network is only used as a data layer, and the consensus is guaranteed by an external Indexer. 

{ 
  "p": "brc-20",
  "op": "deploy",
  "tick": "ordi",
  "max": "21000000",
  "lim": "1000"
}

Usage​

FoxWallet already fully supports BRC20 tokens, you can directly use the Bitcoin receiving address in FoxWallet to receive your BRC20, and sending is also very simple and convenient.

  • Under the "BRC20" tab on the asset page, you can view the BRC20 tokens you own.

  • Click on the list to enter the details page. The balance of BRC20 is divided into two states Available and Transferable. The default transfer received is the state of Transferable, which needs to be converted to Available through the inscribe operation before external transfers can be made.

  • Click Inscribe to convert, this operation needs to send the transaction to the Bitcoin network, please wait patiently for the transaction confirmation

  • When transferring money, you need to select Available BRC20