Related papers: BRC-20: Hope or Hype

BRC-20: Hope or Hype

URL: http://arxiv.org/abs/2310.10652v1
Date: Thu, 31 Aug 2023 02:59:52 GMT
Title: BRC-20: Hope or Hype
Authors: Qin Wang, Guangsheng Yu,
Abstract summary: BRC-20 (short for Bitcoin Request for Comment 20) token mania was a key storyline in the middle of 2023. We pioneer the exploration of this concept, covering its intricate mechanisms, features, and state-of-the-art applications.
Score: 2.3909240294391236
License: http://creativecommons.org/licenses/by/4.0/
Abstract: BRC-20 (short for Bitcoin Request for Comment 20) token mania was a key storyline in the middle of 2023. Setting it apart from conventional ERC-20 token standards on Ethereum, BRC-20 introduces non-fungibility to Bitcoin through an editable field in each satoshi (0.00000001 Bitcoin, the smallest unit), making them unique. In this paper, we pioneer the exploration of this concept, covering its intricate mechanisms, features, and state-of-the-art applications. By analyzing the multi-dimensional data spanning over months with factual investigations, we conservatively comment that while BRC-20 expands Bitcoin's functionality and applicability, it may still not match Ethereum's abundance of decentralized applications and similar ecosystems.

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