BRC-20 Tokens vs. ERC-20 Tokens: A Comparative Analysis
Dubai, UAE, 20th July 2024, The cryptocurrency space contains millions of tokens, many of which are generated using one of the several widely adopted token standards. One of the most famous standards is ERC-20 on Ethereum, which helped to create, according to various sources, from 500 thousand to 1.3 million tokens. As for Bitcoin, its new and experimental token standard bears a similar name, BRC-20, but has only 70 to 80 currently listed on exchanges. How much do those two standards have in common? Let’s explore.
Token Standard Explained
Standards for tokens include a collection of rules, directions, and protocols that control how crypto tokens behave and interact within a specific blockchain’s domain. These standards are crucial for defining the functionality of tokens and establishi...