BRC20 Tokens Explosion And The Shift From ERC20. by teesart

hive-167922 · @teesart · May 11 '23 (edited)

$1.79

BRC20 Tokens Explosion And The Shift From ERC20.

Bitcoin's BRC20 tokens have been the talk of the crypto community lately and have raised quite alot of discussions and debates especially due to the shift from meme coins moving from ERC20 to BRC20 as a result of congestion. BRC20 tokens surpassed thr $1 Billion market cap a day ago with pioneers like Ordinals token reaching a new ATH. Lots of people seem to be aping on BRC20 tokens seem for some reasons like being affliated with Bitcoin ans their low market cap. BRC20 tokens like Ordinals and DRAC, PepeBrc have done so well in the past few days and so it's no surprise why alot of folks are so interested in BRC20 tokens.

![](https://images.ecency.com/DQmSHkKN7g351vrWkMkoFwn1LRrMuP6vWLQCCMuaW6RP6Hr/btc20_bitcoin_brc_20_1200.jpg)
[source ](https://www.bitcoininsider.org/article/213972/bingx-takes-research-brc-20-coins-listing)

The standard for BRC20 tokens was developed earlier this year by a twitter user named DOMO, and since then, there have been over 14,000 BRC20 tokens created compared to the 400million tokens on ERC20. There are so many questions on the minds of everyone right now especially the Bitcoin community and some of them are what lies ahead for BRC20 tokens? Are they the next big thing/would be the most prominent tokens in the coming bull market? What impacts would they have on the Bitcoin network in the long run?

Some of my concerns are the effect on gas prices which is quite a common concern like we've seen on ETH and speed of transactions. Although novel, I believe BRC20 tokens are here to stay especially due to the congestion on ETH, but I'm quite skeptical about their long term impacts on the Bitcoin network.

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properties (23)vote details (61)

voter	rshares	pct
gerber	9,461,278,608	5%
good-karma	57,953,990,216	6.01%
daan	51,273,611,973	8%
ezzy	788,720,944	5%
exyle	45,691,715,297	5%
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esteemapp	14,416,035,344	6.01%
forykw	18,795,368,841	2.5%
drwom	967,099,251	3%
alphacore	725,118,753	0.53%
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shitsignals	907,329,137	5%
shebe	523,897,386	6%
felander	25,559,973,752	5%
yogacoach	1,084,348,001	5%
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isnochys	7,171,519,983	3.4%
esteem.app	1,700,777,328	6.01%
emrebeyler	141,667,916,332	4.5%
steembasicincome	137,125,104,359	2.14%
cherryng	596,856,151	1.2%
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themightyvolcano	2,433,566,928	5%
gogreenbuddy	40,269,638,929	3%
insaneworks	66,324,231,218	30%
goldbuyer	110,175,256,297	60%
holovision	22,321,656,414	100%
dlike	14,714,226,673	5%
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dpoll.witness	512,129,514	4.5%
ribary	1,787,026,239	2.5%
gloriaolar	14,564,138,238	15%
mice-k	433,455,425	5%
monica-ene	82,747,610,395	50%
dcityrewards	29,867,041,092	5%
holoferncro	2,173,692,773	5%
ecency	1,991,859,882,998	6.01%
ecency.stats	2,092,904,868	6.01%
he-index	2,810,331,379	10%
dcrops	40,739,252,448	2.5%
hykss.leo	9,720,876,163	1%
ausbit.dev	961,728,291	5%
onwugbenuvictor	48,581,271,774	100%
xuwi	6,130,678,765	60.3%
xecency	-45,987,514	-6.01%
exploringella	4,275,639,985	100%
josef-999	9,833,469	14%