BRC-20

What are BRC-20 tokens on Bitcoin?

The BRC-20 token standard is an experimental fungible token standard for Bitcoin. Created by @domodata, (on March 8th, 2023) BRC-20 utilizes Ordinal inscriptions to deploy, mint, and transfer tokens. The name, “BRC-20” is a play on Ethereum’s ERC-20 token standard. The first token contract deployed was for the “ordi” token, with a limit of 1,000 tokens per mint and 21,000,000 tokens total.

Ordinal wallets such as Unisat were quick to deploy tooling for the BRC-20 standard, and in less than 18 hours, all 21,000,000 ordi tokens had been minted, with pending mints for an additional 1,500,000 ordi tokens that were not within the limit. 3 concepts: DEPLOY - MINT - TRANSFER DEPLOY: First a BRC-20 must be deployed. Let's analyse the J-SON file I used before with ordi, the first BRC-20:

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-20 events
op	Yes	Operation: Type of event (Deploy, Mint, Transfer)
tick	Yes	Ticker: 4 letter identifier of the brc-20
max	Yes	Max supply: set max supply of the brc-20
lim	No	Mint limit: If letting users mint to themsleves, limit per ordinal
dec	No	Decimals: set decimal precision, default to 18

So to deploy a BRC-20 you need to inscribe this file customizing with our own data. MINT: TO BE CONTINUED I HAVE TO JUMP IN A CALL Minting tips: The token standard specifies that whichever address receives the inscription first holds the tokens. So if you use an inscription service that mints to itself before sending the inscription to you, the inscription service will be the rightful owner of the tokens

BRC-20 Gitbook