New Token Standards Rise!

Activation of the Bitcoin network and BRC-20The popularity of the standard, accompanied by many token standardalso contributed to the industry.

The crypto industry manages to attract demand with the rushes that occur every period. The emergence of new trends over the years has brought bear and bull markets with it. NFT, metaverse, Web3 and artificial intelligence have been the trends that have marked the last period. Moreover memecoin‘s has always managed to find a place for itself in the crypto industry.

In the midst of all these cycles, a new trend emerged. At the beginning of the year, Ordinals NFTs began to be created on the Bitcoin network. This process contributed to the creation of new tokens and inscriptions on the Bitcoin network. BRC-20While tokens created a bomb effect on the agenda, new token standards were also included in the market. SRC-20And DRC-20Standards such as

New Fury in Bitcoin: BRC-20 Standard

The turbulent global markets and the bear trend of the crypto market brought along a very difficult period for Bitcoin. However, this period began to reverse with the start of 2023. Bitcoin, in the face of global markets starting to relax and increasing demand up to $30,000.

One of the factors affecting the rise and demand of Bitcoin is BRC-20 tokenwith their Ordinals it happened. The process that started with Ordinals led to an increase in Bitcoin network activity. The BRC-20 standard, which started later, lit the torch of the new trend. BRC-20 tokens will soon Reached a market capitalization of close to $1 billion.

Increasing demand in the industry, bitcoin network congestion and increased mining revenues. All of this led to Bitcoin entering a short-term uneasy atmosphere and later becoming the forerunner of a new frenzy. In particular, ORDI is listed on almost many crypto exchanges. BRC-20 token brought their popularity. on the Bitcoin network Nearly 10 thousand BRC-20includes token.

Stamps Current: SRC-20 Standard

bitcoin Ordinalsstarting with and BRC-20the process that popularizes their token, SRC-20 also opened the doors of the standard. emerging with the spread of Ordinals in a broad perspective. SRC-20 aims to embed data in the Bitcoin network in different ways. in other words Bitcoin Stamps , has reached nearly 20,000 assets since its launch. users, especially BRC-20created by FOMObecause of to SRC-20 projectsflocked to.

With a very simple interface SRC-20 The new trend offers the opportunity to introduce digital assets to the market, just like BRC-20 tokens. However bitcoin stamps has not yet set an adequate agenda. Amongst the prominent functions of Stamps, in a piecemeal NFTcreating and this NFTMore efficient use of ‘s on the blockchain.

Looking at the tokenization side, SRC-20 projects are slowly starting to be mirrored in the crypto community. Many Twitter users have revealed the progress of SRC-20 tokens. Through cryptocurrencies that are not yet known, SRC-20 currentappears to continue to grow.

Floating Furya: ORC-20 Standard

BRC-20And Bitcoin Ordinals ORC-20, which got its share of the fury created by ., managed to attract the attention of many users in a short time. Although it has not yet gained full popularity ORC-20‘s were created to improve the functionality of the BRC-20s.

Working on the Bitcoin network ORC-20 ‘s appear as JSON files written on satoshis. This project plans to increase security and flexibility. BRC-20targeting several limitations in ORC-20 offers a broader perspective. However ORC-20‘s, BRC-20It has a structure based on the standard.

The ORC-20 standard points out many shortcomings of the BRC-20 and states that it aims to solve them. This new standard, created by OrcDAO, continues to attract attention, although it has not yet gained popularity. Especially the global sector has started to make moves not to stay out of this standard.

New Experiment: LTC-20 Standard

As the name suggests LTC-20 standard, Litecoin Ordinals was built on the protocol. The new standard, created by the Litecoin community, is still in testing. BRC-20LTC-20, a fork of , offers deploy and mint functions.

Developed by the community and in the experimental phase, LTC-20 is being conducted to examine the interaction of the new trend with the Litecoin network. Test in the documentstates that Litecoin should focus on its software and network optimizations.

LTC-20s in demo phase, to the documentreached almost its maximum supply.

Dogecoin Rising: DRC-20 Standard

DRC-20, BRC-20It emerged in order to eliminate many deficiencies of . BRC-20 This new trend, taking advantage of the current flow, has contributed to Dogecoin getting more transactions. The intense interest of DRC-20 has managed to increase Dogecoin’s network activity to record levels. DRC-20With more users heading towards dogecoin block awards also It increased.

It shows a different functionality and that memecoins are also in this trend. DRC-20 is using the minting method. Many crypto users are using NFTs printed with DRC-20. doginals named it. However, the lack of tracking and data retrieval functionality also leads to insecurity in DRC-20 tokens.

One of the most important projects of the new trend dog it happened. This project is about $7.5 million achieved a market value. Just as Bitcoin Ordinals It attracts the attention of its users with a supply of 21 million. However, the DRC-20s have not yet received as much attention as the BRC-20s.

The emergence of all these standards and the popularity of a new trend, bitcoin also reveals positive signals for In this way, crypto users keep their excitement and enthusiasm alive. In particular, many users compare the new standards to the period when Bitcoin first came out. But all this does not offer clarity about reliability, as it has a structure that any user can create. For this reason, investors need to be cautious about the standards they are leaning towards.

Looking to the future, it seems that the flaming crypto trends have also benefited Bitcoin, with a few contributing to the bull season. Next bull’s footstepsmay come through new token standards.