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Four new token standards on the block

Crypto moves at "lightning" speed, and there's been lots of momentum behind new token standards and protocols recently. Some have hailed them as significant innovations, while others have dismissed them as a waste of block space. Alongside the echoes of discontent, there's already been progress to make these standards acceptable for all. Let's find out how.

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🔑 What is BRC-20?

BRC-20 is a fungible token standard designed specifically for the Bitcoin blockchain, allowing the deployment, minting, and transfer of tokens using JavaScript Object Notation inscriptions. Unlike Ethereum's ERC-20 standard, BRC-20 utilizes a proof-of-work mechanism and does not support smart contracts. Good news: you can now deposit and withdraw BRC-20 tokens on OKX. Click below to read more about Bitcoin's new token standard article.

Meet BRC-20 tokens, the new Bitcoin token standard

🔖 What are ordinals?

Ordinal theory has transformed NFTs by allowing the ranking, ordering, and transferring of individual satoshis — the smallest unit of Bitcoin, while inscribing them with unique data. Likewise, Bitcoin's secure blockchain opens up boundless possibilities for digital treasures. Learn more about it in the article below.

Ordinals: The new NFTs on the block(chain) - A beginner's guide

🌱 What are Taproot Assets?

The Taproot Assets protocol tackles blockchain congestion by facilitating unlimited asset creation and transfer in a single on-chain transaction. At the same time, integration with the Lightning Network enables fast, high-volume, and low-fee BRC-20 transactions through existing networks. Find out more in our article.

New Taproot Assets protocol: A boost to Bitcoin blockchain scalability?

📜 What are ERC-6551 Token Bound Accounts?

ERC-6551 Token Bound Accounts (TBA) is an innovative Ethereum standard that expands the functionality of NFTs, transforming them into versatile digital assets by enabling them to operate as their own smart contract accounts. By introducing token bound accounts, ERC-6551 overcomes the limitations of ERC-721 tokens, allowing seamless interactions and enhancing their real-world usability. Read more about it in our article.

ERC-6551: The new Ethereum standard unlocking fresh possibilities for NFTs


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Deze inhoud is uitsluitend bedoeld ter informatie en kan producten bevatten die niet beschikbaar zijn in jouw regio. Het is niet bedoeld als (i) beleggingsadvies of een beleggingsaanbeveling; (ii) een aanbod of verzoek om crypto-/digitale bezittingen te kopen, verkopen of aan te houden; of (iii) financieel, boekhoudkundig, juridisch of fiscaal advies. Het bezit van digitale bezittingen of crypto, waaronder stablecoins, brengt een hoog risico met zich mee en de waarde ervan kan sterk fluctueren. Overweeg zorgvuldig of het, aan de hand van je financiële situatie, verstandig is om crypto-/digitale bezittingen te verhandelen of te bezitten. Raadpleeg je juridische, fiscale of beleggingsadviseur als je vragen hebt over je specifieke situatie. De informatie in dit bericht (inclusief eventuele marktgegevens en statistieken) is uitsluitend bedoeld als algemene informatie. Hoewel alle redelijke zorg is besteed aan het voorbereiden van deze gegevens en grafieken, aanvaarden wij geen verantwoordelijkheid of aansprakelijkheid voor eventuele feitelijke fouten of omissies hierin.

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