Coinranking
| # | Coins | Price | 24h | ||
|---|---|---|---|---|---|
| | |||||
| | 1 |  | $ | -1.13%  | |
| | 2 |  | $ | -12.28%  | |
| | 3 |  | $ | -5.51%  | |
| | 4 |  | $ | -2.43%  | |
| | 5 |  | $ | -8.21%  | |
| | 6 |  | $ | +5.62%  | |
| | 7 |  | $ | --%  | |
| | 8 |  | $ | --%  | |
| | 9 |  | $ | --%  | |
| | 10 |  | $ | --%  | |
| | 11 |  | $ | --%  | |
| | 12 |  | $ | --%  | |
| | 13 |  | $ | --%  | |
| | 14 |  | $ | --%  | |
| | 15 |  | $ | --%  | |
| | 16 |  | $ | --%  | |
| | 17 |  | $ | --%  | |
| | 18 |  | $ | --%  | |
| | 19 |  | $ | --%  | |
| | 20 |  | $ | --%  | |
| | 21 |  | $ | -4.93%  | |
| | 22 |  | $ | -5.48%  | |
| | 23 |  | $ | -1.71%  | |
| | 24 |  | $ | +4.60%  | |
| | 25 |  | $ | -2.65%  | |
| | 26 |  | $ | -6.88%  | |
| | 27 |  | $ | +53.71%  | |
| | 28 |  | $ | -24.18%  | |
| | 29 |  | $ | -11.88%  | |
| | 30 |  | $ | +7.18%  | |
| | 31 |  | $ | -6.28%  | |
| | 32 |  | $ | +56.27%  | |
| | 33 |  | $ | +23.34%  | |
| | 34 |  | $ | -14.15%  | |
| | 35 |  | $ | +44.45%  | |
| | 36 |  | $ | +3.50%  | |
| | 37 |  | $ | +21.56%  | |
| | 38 |  | $ | -9.16%  | |
| | 39 |  | $ | -26.29%  | |
| | 40 |  | $ | -2.74%  | |
| | 41 |  | $ | -6.20%  | |
| | 42 |  | $ | -2.36%  | |
| | 43 |  | $ | +4.73%  | |
| | 44 |  | $ | -1.14%  | |
| | 45 |  | $ | -6.98%  | |
| | 46 |  | $ | -14.67%  | |
| | 47 |  | $ | -0.19%  | |
| | 48 |  | $ | -13.39%  | |
| | 49 |  | $ | +18.37%  | |
| | 50 |  | $ | -0.88%  | |
Top gainers
| Coins | Price | 24h | |||
|---|---|---|---|---|---|
| | | $ | -1.13% | ||
| | | $ | -2.43% | ||
| | | $ | -5.51% | ||
| | | $ | -12.28% | ||
| | | $ | +5.62% | ||
| All gainers | |||||
What are BRC-20 tokens?
The BRC-20 token is an experimental token that is saved on the Bitcoin blockchain.
Unlike the token standards you might be used to with EVM chains, BRC-20 tokens are simply a way to store a script file in Bitcoin.
The creator of BRC-20 tokens, Twitter user @domodata, came up with the name as a play on Ethereum’s ERC-20 token standard.
Although there are plenty of ways to create tokens on other chains, BRC-20 tokens could potentially drive demand for Bitcoin to pay for fees and take up block space.
The first BRC-20 token
The first BRC-20 token that came out was called "ordi." Bitcoin wallets quickly created tools to support these tokens. After that, many other BRC-20 tokens were launched, and some of them were meme tokens.
By May 2023, a few BRC-20 tokens had seen their prices skyrocket, becoming very valuable. This increased demand for BRC-20 tokens led to a rise in Bitcoin transaction fees and caused congestion on the Bitcoin network.
BRC-20 vs ERC-20
Don't mistake the BRC-20 tokens for the more common ERC-20 tokens you're probably familiar with. BRC-20 tokens are different in a few key ways.
Firstly, BRC-20 tokens are minted and traded on the Bitcoin network, not Ethereum. This means they're protected by Bitcoin's proof-of-work security mechanism, instead of Ethereum's proof-of-stake security mechanism. In addition, to hold and trade BRC-20 tokens, you'll need a Bitcoin wallet like UniSat Wallet.
Secondly, BRC-20 tokens are a bit simpler than ERC-20 tokens. Bitcoin's blockchain does not allow for smart contracts, so BRC-20 tokens can't be used in other applications like decentralized exchanges or borrowing and lending protocols.
But that doesn't mean BRC-20 tokens aren't useful. Using the Ordinals protocol, users can create digital assets in the form of text, images, audio, or video and inscribe them onto a satoshi. Once inscribed, these assets can be traded or swapped on the peer-to-peer Bitcoin network.
How does BRC-20 work within the Bitcoin ecosystem?
Ordinals, a protocol innovatively built upon the Bitcoin blockchain, introduces a novel way to individualize and transfer smaller units of Bitcoin, known as sats, by assigning unique identifiers. This breakthrough, spearheaded by Casey Rodarmor, has significantly impacted the Bitcoin ecosystem, enabling the creation and exchange of an extensive array of Bitcoin-based NFTs.
In essence, each Bitcoin can be subdivided into 100 million sats, and Ordinals facilitates the tagging of these sats with distinctive identifiers. The associated data allows for seamless transfers of these individualized units over the Bitcoin network. Originally embraced by tech-savvy Bitcoin enthusiasts, the process involved sending a sat to a Taproot-compatible wallet and embedding metadata through a Bitcoin node and command line interface. However, user-friendly solutions have emerged, making Ordinals more accessible, particularly for the Ethereum community.
While NFTs marked the initial application of the Ordinals protocol, it has evolved to support fungible tokens similar to Ethereum's ERC-20 tokens. Notably, these Bitcoin-native assets adhere to the BRC-20 standard, mirroring Ethereum's nomenclature. The burgeoning BRC-20 market, valued at $1.4 billion as of December 7, 2023, has witnessed the emergence of various projects issuing Bitcoin-based tokens. These initiatives contribute to the formation of a nascent tokenized ecosystem revolving around Bitcoin and Ordinals, with some tokens gaining traction on tier-1 exchanges, signaling the rise of the BRC-20 phenomenon.
Is it BRC-20 token or BRC-20 coin?
The answer is likely BRC-20 token. Tokens and coins have been used interchangeably but coins are usually used for cryptos that could be used for money exchange like Bitcoin. However, tokens tend to have a variety of purposes just like in the case of BRC-20.
How often is the BRC-20 token list updated?
We update our list of tokens everyday and according to our PIC, we are adding at least one or two new tokens sync for the BRC-20 list everyday. Most of our listings come from the UniSat exchange.
What are the top BRC-20 tokens
Top BRC-20 tokens could be different to everyone depending on the metrics you look out for. If you're looking for top BRC-20 tokens based on price, you can filter this on our page by clicking on the word "price" on our page to show the coins with the biggest gains in the last 7 days. You can also adjust the duration to show 1 month, 3 months or any other durations you prefer. If you're looking for top BRC-20 tokens based on market cap, you can also filter this by clicking on the word "market cap" on our page.
Final thoughts on BRC-20 tokens
BRC-20 tokens can potentially open up new possibilities for creating digital assets that can be traded on the blockchain. The ability to create fungible tokens on the Bitcoin blockchain is a game-changer, as it allows users to exchange assets directly without the need for intermediaries.
However, it's important to remember that BRC-20 is still in its experimental phase and shouldn't be seen as the "standard" for Bitcoin-based tokens. While it's exciting to see these new developments, it's still too early to tell whether they will be as valuable as blue-chip NFT collectibles like BAYC and CryptoPunks.
Some compare BRC-20 tokens to the blockchain-clogging Crypto Kitties of 2017, but others see them as the early bird that gets the worm. With further innovation and widespread support from the Bitcoin community, BRC-20 tokens could continue to improve and offer even more exciting possibilities for digital asset trading on the blockchain.