BRC-20 coins, also known as Bitcoin-based Tokenized Assets, are a type of token created on the Bitcoin blockchain using the Ordinals protocol. These tokens are designed to bring additional functionality and utility to the Bitcoin network, similar to how ERC-20 tokens have expanded the capabilities of the Ethereum blockchain. BRC-20 tokens enable the creation and management of fungible assets on the Bitcoin blockchain, allowing for the development of decentralized applications (DApps), decentralized finance (DeFi) protocols, and other blockchain-based solutions.
Key Facts about BRC-20 Coins:
- Bitcoin Blockchain: BRC-20 tokens are built on the Bitcoin blockchain, which is the most well-known and widely used blockchain network.
- Ordinals Protocol: BRC-20 tokens utilize the Ordinals protocol, which enables the creation and management of tokenized assets on the Bitcoin blockchain.
- Limited Functionality: BRC-20 tokens have more limited functionality compared to their Ethereum-based counterparts. While Ethereum has its own virtual machine (EVM) that can execute smart contracts, the Bitcoin blockchain does not have a native virtual machine. This limits the complexity of assets and conditions that can be implemented with BRC-20 tokens.
- Bitcoin Community: The introduction of BRC-20 tokens has sparked interest and community engagement within the Bitcoin ecosystem. However, it’s worth noting that not all Bitcoin enthusiasts are equally enthusiastic about BRC-20 tokens, as some have concerns about block space usage and potential fee spikes.
Top 10 Largest BRC-20 Coins:
As of writing this article the following are some of the largest BRC-20 Coins. While the specific ranking of BRC-20 coins may vary over time, here are some of the largest BRC-20 tokens based on market capitalization:
- ORDI: ORDI is a BRC-20 token with a market capitalization of approximately $1.74 billion. It is used for various purposes within the Bitcoin ecosystem.
- MUBI: MUBI is a BRC-20 token with a market capitalization of around $67.91 million. It serves as a utility token for specific applications on the Bitcoin blockchain.
- OXBT: OXBT is a BRC-20 token with a market capitalization of about $391.56 million. It has its own use cases and functionalities within the Bitcoin network.
- SATS: SATS is a BRC-20 token with a market capitalization of approximately $7.63 million. It is used for specific purposes within the Bitcoin ecosystem.
- VMPX: VMPX is a BRC-20 token with a market capitalization of around $54.77 million. It serves as a utility token for certain applications on the Bitcoin blockchain.
- RATS: RATS is a BRC-20 token with a market capitalization of about $10.34 million. It has its own use cases and functionalities within the Bitcoin network.
- DOMO: DOMO is a BRC-20 token that is considered highly experimental. It is not intended to be a financial asset and is primarily a thought experiment by its developers 3.
- BANK: BANK is a BRC-20 token with a market capitalization of approximately $3.23 million. It serves specific purposes within the Bitcoin ecosystem.
- PIZA: PIZA is a BRC-20 token with a market capitalization of around $12.71 million. It is used for certain applications on the Bitcoin blockchain 3.
- Punk: Punk tokens are BRC-20 versions of the popular Cypherpunk meme coins. They provide a Bitcoin-based alternative to the Ethereum-based tokens and cater to collectors and enthusiasts 3.
Please note that the ranking and market capitalization of BRC-20 tokens can change over time, so it’s always recommended to refer to up-to-date sources for the most accurate information. A live list can be found here.
BRC-20 coins are tokens created on the Bitcoin blockchain using the Ordinals protocol. They bring additional functionality and utility to the Bitcoin network, allowing for the development of decentralized applications and other blockchain-based solutions. While the specific ranking of BRC-20 tokens may vary, there are several notable tokens based on their market capitalization.
