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Main BRC-20 Tokens: ORDI, SATS and More
The introduction of the BRC-20 token has sparked considerable interest within the cryptocurrency community. Presently, the market capitalization of BRC-20 tokens stands at 1,636.36 billion, with new tokens being issued daily. Despite the BRC-20 token remaining in the experimental stage, it holds significant growth potential in the crypto asset space. To stay abreast of this trend, it is essential to get to know about the main BRC-20 tokens on the current market.
ORDI
ORDI is an abbreviation for Ordinals, a protocol established in January 2023 that gives users the ability to inscribe free-form content on Satoshi (the smallest unit of Bitcoin). These inscriptions are similar to non-fungible tokens (NFTs) and can contain text, images, videos, or other file formats. They are then transformed into a unique digital asset that can be tracked and traded. ORDI is a pioneer of the BRC-20 standard and was the first BRC-20 token ever created. Its emergence provided a viable alternative to the Ether ERC-20 standard, allowing developers to create tokens that take advantage of Bitcoin's security and network effects. Its creation marked a watershed moment, facilitating the proliferation of a variety of other similar tokens. On the TruBit Pro exchange, you can also trade ORDI related pairs.
SATS
SATS is derived from "Satoshis", and is a well-known BRC-20 token in the cryptocurrency market. Based on the Ordinals protocol, SATS builds a token economy on the Bitcoin ecosystem by encoding specific files onto satoshis. With the flexibility that comes from operating without smart contracts, SATS covers a wide range of applications from payment systems to the gaming industry, opening up new possibilities for the transfer and creation of digital assets. On the TruBit Pro exchange, you can also trade SATS related pairs.
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PEPE (Ordinals)
PEPE (Ordinals) is the first-ever Pepe on the Bitcoin blockchain. The name is derived from the 'Pepe the Frog' emoji, which was first created by artist Matt Feely in 2005. This PEPE (Ordinals), or PEPEBRC, follows the impressive gains that the PEPE on Etheruem blockchain brought. Currently, PEPE (Ordinals) has a nominal value of $0.2056 but a market cap of $8,919,993. The total supply of the token is limited to 42,069,000, of which 100% have been minted!
PIZA
PIZA is based on the BRC-20 standard and was created in March 2023. The token salutes one of the most famous stories of Bitcoin in 2010: Laszlo Hanyecz traded 10,000 BTC for two large pepperoni pizzas from Papa John's. However, PIZA is a memecoin with no intrinsic value or expected financial return and is purely for entertainment purposes. There is no formal team or roadmap associated with the token. By April 30th, 2023, all Piza coins have been minted.
Conclusion
In the rapidly evolving world of cryptocurrency, BRC-20 tokens continue to rise in importance on the Bitcoin ecosystem. From the rise of ORDI to the unique role played by SATS in the DeFi space, each BRC-20 token brings its own unique value proposition. Additionally, tokens like Pepe (Ordinals) and PIZA mark the emergence of meme culture in the BRC-20 token ecosystem, adding diversity to the innovative and ever-expanding landscape of the crypto market.
