BRC20 is an experimental format standard for issuing homogeneous tokens on the Bitcoin network, created by Twitter user @domodata on March 8, 2023 based on the Ordinal protocol. Similar to the ERC20 standard of Ethereum, it stipulates the name, circulation, transfer and other functions of tokens issued on Ethereum, and all token contracts developed based on Ethereum comply with this standard. The main difference between BRC20 and ERC20 is that the Bitcoin network does not support smart contracts. It uses the Ordinal protocol to set inscriptions (inscriptions) into JSON data format to deploy token contracts, mint and transfer tokens, that is, developers can pass the Ordinal protocol Create and issue fungible tokens.
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