BRC-20 already has the potential to erupt in the next bull market.
Author: Peng Yong & Block unicorn
In the last article, a week has passed, and now there is information everywhere about BRC20, and the market is becoming increasingly greedy. This article will introduce various RC20 and trading tools, such as SOL20, SRC20, etc.
On Tuesday this week, Binance launched its second BRC20 (Inscription) token—SATS, which once again injected vitality into the entire BRC20 ecosystem, bringing positive signals for the further development and market performance of BRC20 tokens. Binance's co-founder He Yi also stated in a live broadcast: "To be honest, we still have room for improvement in every aspect. Specifically, we have a dedicated team for product development, such as the issue of the Web3 wallet that is often mentioned. We did not invest enough in certain areas before, but we will continue to optimize and improve according to user needs."
Due to Binance's inadequate support for BRC20 in the wallet area, it lost its early competitive advantage. In May of this year, when BRC20 was in its early stages, OKX announced its participation in the construction and strengthening of wallet support for BRC20. Data from Dune on December 13th showed that the total transaction volume on the Bitcoin network Ordinals protocol chain was close to 920 million USD, with OKX Web3 wallet accounting for approximately 88% of the market share. Binance currently launched ORDI and SATS to show the market that they actually value the support for BRC20.
With the continuous support of Binance and OKX, the BRC20 ecosystem and tokens are constantly gaining support, indicating their future potential. Binance's continuous launch of BRC20 tokens can make BRC20 more widely recognized and liquid. With the support of other mainstream trading platforms or wallets, the ecosystem and influence of BRC20 will further expand, attracting more attention and providing more opportunities for investors and participants.
How to participate?
To participate in the early market and opportunities, you need to understand more tools and basic knowledge to reduce your trading risks. The well-known BRC20 is a protocol based on the Ordinals protocol, and there are many other RC20 protocols based on Ordinals.
Basic knowledge
Today, let's use the most popular way to understand all Ordinals-based protocols. In addition to BRC20, there are also ARC20, IERC20 (Ethereum), CBRC20, SOL20 (Solana), DRC20 (DOGE), ASC20 (AVAX), ORC20, LRC20 (Litecoin), TRC20 (Wave), SRC20 (only supports Bitcoin addresses starting with 1), Ethrunes (Ethereum runes), and many other new RC20 protocols based on public chains using Ordinals, with more to be added later, too many to count completely.
You don't need to understand all of these Ordinals-based BRC20 protocols, nor can you fully understand them all. You just need to understand the underlying nature of these protocols, so that you can have a certain basic understanding of the whole picture.
They are essentially the same as BRC20 at the core, using 1 satoshi for transfers and writing identifying information in the transfer memo to issue tokens, NFTs, domain names, bills, stamps, etc. (Bitcoin's smallest unit is 1 satoshi, and other RC20 protocols also issue tokens using the smallest unit of L1 chain). They are identified by indexers to recognize the identifying information in each unit (you can refer back to the previous article "Bitcoin's New Wave: The Present and Future of BRC20" to understand the underlying nature of BRC20).
The difference between them and BRC20 is that they have made some modifications based on the basics, such as simplifying information and reducing byte data, token naming length, enhancing the efficiency of indexers, and increasing protocol security, etc. Just as some public chains enhance TPS, some for more security, and some for increased flexibility in contract coding, etc.
In this article, we will not delve into and analyze the differences in detail. Here, we just want everyone to have a basic understanding, and the content that follows will be progressive from shallow to deep.
BRC20 Tools
The importance of tools in human life cannot be ignored, as they not only greatly improve efficiency. In the Web3 environment, we must understand wallets, trading platforms, and data platforms, which can help us manage our funds and make better trading decisions.
Wallet
1. OKX Web3 Wallet
Currently, the most widely used wallet for trading BRC20, in addition to supporting BRC20 and ARC20 transactions and issuing tokens, NFTs, and domain names, also supports the RC20 protocol of public chains running smart contracts. The wallet with a highly praised trading experience is the OKX Web3 Wallet, and OKX Web3 Wallet is also very willing to help some BRC20 protocols solve problems for free, thereby improving the industry's technical level. The OKX Web3 Wallet is very user-friendly for novice users and automatically pops up risk warnings when browsing unknown web pages.
Download link: www.okx.com. Currently, OKX Web3 Wallet supports BRC20 and SRC20 (this protocol only supports Bitcoin addresses starting with 1, not bc1). Although it supports SRC20, the OKX wallet front end does not display it yet. In terms of language support, the mobile end supports Chinese, and the web end supports 21 mainstream languages.
Trading market function: The mobile and web versions of OKX Web3 Wallet both have built-in functions for trading and issuing BRC20 tokens, NFTs, and domain names, and the trading depth of BRC20 in the OKX Web3 Wallet is also very good.
2. Unisat Wallet
OG Wallet in the BR20 Ecosystem, the earliest to support the BRC20 protocol, has opened up new avenues for the industry. Unisat DEX still requires enough points to use new features, and now users need 400 points to use the DEX.
Download link: https://unisat.io/, currently supports BRC20 and SRC20 (trading SRC20 tokens requires switching to 1 starting address in the wallet settings), but there is no mobile wallet, only a Google Chrome plugin wallet.
Trading market function: Unisat's desktop web version has built-in trading and issuance of BRC20 tokens, NFTs, domain names, etc. The trading depth of BRC20 is second only to the OKX Web3 wallet.
In summary, for trading and issuance of BRC20 tokens, NFT domain names, etc., using OKX Web3 Wallet and Unisat can almost meet all user needs. For assets such as CR20 tokens and NFTs issued on smart contract public chains (ETH SLO AVAX, etc.), you can use the OKX Web3 Wallet.
3. Atomical Wallet
Atomical Wallet is the best wallet that supports the ARC20 protocol (Atomicals Protocol). There is currently no mobile app, only a Google Chrome plugin wallet, and the web version does not have a built-in trading market.
Download link: https://atomicalswallet.com/
4. Unielon Wallet
Unielon is a plugin wallet that supports the DRC20 protocol. Currently, it is only available on the web, with no mobile app. DRC20 refers to the RC20 protocol issued on the DOGE (Dogecoin) chain.
Download link: unielon.com
Trading market function: The Unielon official website has functions for trading and issuing DRC20 tokens, NFTs, domain names, and more. Trading is as simple as Uniswap, supporting the addition of LP (liquidity) trading pairs, candlestick charts, and data analysis.
When users want to trade DRC20, they need to convert their Dogecoin (DOGE) in the -Wdoge- trading interface to WDOGE before they can trade. After the conversion, they can trade DRC20 tokens in the -Convert- section.
In summary, the Atomical Wallet only supports the ARC20 protocol (Atomicals Protocol), which we will discuss later. There are other wallet tools for the Dogecoin chain, but I have not used them, so I did not include them in the content.
Trading Platform Tools
Below, I will introduce trading tools for RC20 one by one. Since the above wallets cannot do what these tools can do, we need more excellent combination tools.
ARC20 Trading Market
- Atomical Market is a trading platform that provides ARC20 tokens and NFT trading. Users can mint tokens by entering the token name in the search box. ARC20 stands for Atomicals Protocol (also known as ATOM) and is based on the Bitcoin network.
Link: atomicalmarket.com
SRC20 Trading Market
- Stampscan supports trading and issuance of tokens and provides data on the top 100 token holdings. The trading depth is slightly lower than Openstamp.
Link: www.stampscan.xyz
- Openstamp is the platform with the best trading depth for SRC20 tokens, NFTs, and stamps. It also supports ARC20 token trading and issuance, NFTs, and stamps.
Link: openstamp.io
ASC20 Trading Market
- Avascription is the trading market for ASC20. ASC20 is a protocol developed on the AVAX chain. Although public chain RC20 can be supported by the OKX Web wallet, Avascription is needed to find ASC20 tokens, balances, transfers, tokens being minted, and to trade and issue ASC20 tokens.
Link: avascriptions.com
SOL20 Trading Market
- Tensor trade is an NFT trading platform on the Solana blockchain network, supporting SOL20 token and NFT trading.
Link: tensor.trade
- Magiceden is the strongest NFT trading platform on Solana, where you can switch to see SOL20 NFT and token trading on the website. In addition, Magiceden also supports BRC20 NFT trading.
Link: magiceden.io
IERC20 Trading Market
- IERC20 is the RC20 protocol on the Ethereum network, where you can trade IERC20 tokens, mint tokens, and issue tokens.
Link: ierc20.com
ETHs Trading Market
- Facetswap is a decentralized DEX based on ETHs, similar to Uniswap. When trading, you need to convert ETH to FETH. You can see the Bridge button in the upper right corner of the website to exchange ETH for FETH.
Link: facetswap.com
- Ethscriptions allows trading of ETHs NFTs, but the experience is very poor.
Link: Ethscriptions.com
- ETCH allows trading of tokens, NFTs, and domain names, and it is also an Ethscriptions indexer and ETHs IDO platform.
Link: www.etch.market
Ethrunes Trading Market
- Ethrunes is the RC20 trading market on Ethereum, also known as Ethereum runes. Linking to the Firefox wallet or OKX Web3 wallet allows direct trading, minting, and issuance of tokens.
Link: ethrunes.xyz
TRC20 Trading Market
- Trximarkets is the TRC20 trading market developed on the Tron (TRX) network, supporting trading of TRC20 tokens, minting, transfers, and issuance (this platform has higher risk).
Link: Trximarkets.com
In summary, CBRC20 trading is very cumbersome, requiring the creation of buy orders in the Discord community, and the experience is very poor when using Runex.tech for selling. ORC20 currently does not have a trading market, and LRC20 (Litecoin) is not included due to low usage.
Data Tools
In this still incomplete market, there are not many data platforms available, and the most data tools are for the BRC20 ecosystem.
BRC20 Data Tools
www.brc-20.io is the OG data platform for BRC20. It can be used to check the market value of BRC20 tokens, 24-hour total token trading volume, address balances, and has a DEX (decentralized exchange) built-in.
www.geniidata.com has comprehensive functionality. It can be used to check newly launched BRC20 and ORC20 tokens, address balances, NFTs, tokens being minted, videos, SVG, audio, and indices. In addition, this data platform can be used to issue tokens, NFTs, videos, and more.
Summary
The initial trading tools in the BRC20 ecosystem have begun to take shape, and with subsequent iterative updates, DEFI liquidity mining, and other functions will be further improved. This will drive the application of BRC20 in the Bitcoin network ecosystem and provide users with a richer trading experience.
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