© Igor Faun Unchained Episode discussing the emergence and potential of BRC-20 tokens
- The episode Unchained discusses ordinal and its relationship to BRC-20 tokens.
- Dan Held emphasized the remarkable growth in popularity and popularity of the BRC-20 from its market capitalization of over $1 billion.
- Trevor Owens emphasized the superiority of BRC-20 as a meme currency protocol compared to .
On the latest episode of Unchained, hosted by renowned crypto journalist Laura Shin, educator Dan Held and Bitcoin Frontier Fund Managing Partner Trevor Owens discussed the emergence of the BRC-20 token. Guests explored the concept of Bitcoin ordinal theory and its relationship to these tokens.
Shane kicked off the discussion by delving into Bitcoin Ordinal Theory. Held described ordinal rank as a “Satoshi rank,” which assigns value to satoshis in a specific order based on a shared social consensus. With the advent of BRC-20 tokens, the term “ordinal” has become an umbrella concept that encompasses various aspects of Bitcoin.
Traditionally, the Bitcoin blockchain only supported BTC. However, BRC-20 tokens have recently gained a lot of attention within the crypto community. Owens acknowledged the organic growth of the BRC-20 from an anonymous Twitter user named Domo (NASDAQ:). confirmed:
This new design space created by hierarchies is the concept of adding smart contracts to Bitcoin through node software instead of on-chain logic like an EVM.
Held emphasized the remarkable growth of BRC-20s and highlighted the growing attraction of the token among users. Despite their relatively short existence, BRC-20 tokens quickly gained notoriety, collectively surpassing $1 billion in market capitalization in a matter of weeks. However, Owens acknowledged that the functionality of BRC-20 tokens is currently limited:
There are no other jobs yet. People are starting to use it where they can motivate, but we are in a bear market right now. There is not much innovation in terms of new types of tokens, and I think the market is still a bit immature.
However, Owens stressed the superiority of BRC-20 as a meme currency protocol compared to Ethereum. According to him, the reason for this is the lack of crowdfunding, which is a fair launch. He concluded by saying that the BRC-20 created “simplicity by having fewer functions.”
The Post Unchained episode discusses the emergence and potential of BRC-20 tokens that debuted in Coin Edition.