ORC20: BRC20 enhanced version, attracting Binance’s attention, dilemma and future

Bitcoin ecology has become a popular subject, with BRC20/ARC20/SRC20 competing with each other. In this crowded arena, some investors are beginning to focus on new potential projects.

Remember ORC20 in May?

On May 13, Binance Academy put ORC-20 in the spotlight with a tweet about it.

In the same month, OKX founder Star also tweeted that he was working on building infrastructure for BRC-20 and ORC-20.

What is ORC20? What is the latest development?

ORC-20 can be simply understood as an upgraded version of BRC20. The limitations of BRC-20 gave rise to the birth of ORC-20. ORC-20 is BitcoinBlockchainA newTokenstandards, providing greater flexibility, scalability andSafetysex.

As the earliest Bitcoin networkTokenStandard, BRC-20 has many limitations:

BRC-20 代币的名称只能有 4 个字符；

The total supply and the maximum number of tokens minted at a time are fixed and cannot be changed, which lacks flexibility;

The transfer of BRC-20 tokens is completely dependent on an external, centralized indexer, and transactions cannot be canceled;

In response to the above drawbacks, ORC-20 has been optimized. The specific changes are mainly: allowing the initial supply and maximum minting amount to be changed; there is no fixed limit on naming; using the UTXO model to ensure that there is no duplicate consumption during the transaction process; allowing transactions to be canceled; allowing already deployed BRC-20 coins to be transferred to ORC-20. Of course, only the deployer of BRC-20 can operate the transfer command.

In general, ORC-20 removes some of the restrictions of BRC-20, defines more operations, and allows greater flexibility in token issuance on the Bitcoin network. For example,BRC20 is more like Bitcoin, setting a historical precedent but maintaining tradition; ORC20 is more like Ethereum, a rising star but more "operable".

Since its launch in April, ORC-20 has gradually established its own ecosystem.

ORC20 Protocol

ORC20 Protocol’s official Twitter:Link.

XRCSwap

This is the ORC trading market, with BTC as the trading pair. In the future, it will support the trading of ORC20 ecological tokens.

https://preview.xrcswap.org/marketplace

20Scan

The ORC ecosystem index has been open sourced and supports use by any third-party developers and platforms, which is beneficial to ecosystem construction.

https://20scan.com/indexer

Currently, the most legitimate leading token in ORC-20 is ORC, with a total of 1,798 coin holding addresses. According to the latest transaction price on January 4, the total market value is US$14 million.

From the perspective of market value, ORC20 is indeed far behind BRC20/ARC20/SRC20, although in terms of its functionality, ORC20 has made significant improvements over BRC20. Why is this so?

This is also a feature of the crypto market. Narrative value is greater than practical value. ORDI pioneered BRC20 - the first time tokens were issued on the Bitcoin network, while ATOM and STAMP took the lead and created a new narrative. ORC20 is an improved fork based on BRC20, and is naturally bound by the gravity of BRC20.

So, the question is, is ORC20 going to replace BRC20 or supplement and strengthen BRC20? Positioning determines the route and direction. In the past, someCommunitySome people may think it is a replacement, just as many early Bitcoin forks thought.

Today, ORC20CommunityMore pragmatically, ORC20 is an extension protocol of BRC20. It does not replace BRC20, but rather assists and strengthens it. This route is more practical and reliable. Some functions and requirements that cannot be directly completed on BRC20 can be completed on ORC20, such as some DeFi-like functions. Under this positioning, ORC's valuation space comes from ORDI. Now ORDI has a market value of 1.5 billion US dollars. So can ORC take over 5%, orXiaobai NavigationOnce the market value of 10% is realized, ORC will have a leap compared to now. As an early protocol on the Bitcoin network, ORC20 has received a lot of attention at home and abroad, and has been listed by OKX/Binance.exchangeIt is mentioned that it has a good traffic base and although it once faced difficulties, its future development is still worthy of attention.

The article comes from the Internet:ORC20: BRC20 enhanced version, attracting Binance’s attention, dilemma and future

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