Bitcoin’s BRC-20 Tokens Gain Momentum with Binance’s New Inscriptions Marketplace
Binance has unveiled the In-App Inscriptions Marketplace, featuring support for Bitcoin BRC-20 tokens like ORDI.
The marketplace, integrated into the Binance Web3 Wallet, serves as a comprehensive platform for inscription creation and trading, encompassing BRC-20 tokens and Ethereum Virtual Machine tokens. Unlike Ethereum’s ERC-20 tokens utilizing smart contracts, BRC-20 tokens employ Ordinals inscriptions, a protocol allowing data inscription on individual satoshis, the smallest Bitcoin denomination.
The introduction of BRC-20 tokens has led to the emergence of meme coins like ORDI, SATS, and PIZA, collectively contributing to a total market cap exceeding $2.8 billion, as per CoinGecko data. Despite controversy, particularly among Bitcoin purists like Luke Dashjr, who views inscriptions as exploiting vulnerabilities, Binance’s adoption signals continued growth for BRC-20 tokens, with ORDI ranking among the top 100 cryptocurrencies according to CoinGecko.
Clever Robot News Desk 3rd February 2024