The Bitcoin network has become the talk of the town in recent times due to the evolution of several new protocols. One of them – the Ordinals protocol, has made it possible to create fungible tokens based on the BRC-20 standard on Bitcoin BRC-20 token development has become a hot topic for the following reasons:
- BRC-20 tokens allow the creation of fungible tokens (that are not Bitcoin) that has widened the use cases of the network.
- Together with ordinal inscriptions (Bitcoin equivalent of NFTs), BRC-20 token development intends to foster a powerful and secure decentralized ecosystem on the world’s most prominent blockchain.
- The BRC-20 token standard also enables communities on Bitcoin to have their own identities and aid in the advancement of the entire Web3 ecosystem.
As of now, one can deploy, mint, and transfer tokens based on the BRC-20 standard. Although there is no functionality similar to smart contracts on Bitcoin that could accelerate these tokens’ adoption, they are still being created at fast rates.
Creating these tokens is a tedious task as the technology behind them is still nascent. Henceforth, it is important to work with a professional company to ease the process. Blockchain App Factory is one of the best BRC-20 token development companies out there, offering marvellous services to clients across the globe. The firm provides extensive assistance to ventures aiming to create BRC-20 tokens.