There are currently 14,079 different tokens that have been minted using the BRC-20 standard on the Bitcoin blockchain, with a combined market cap approaching $1 billion. The BRC-20 standard is named after Ethereum's ERC-20 and is used to create fungible tokens via the Ordinals protocol without the use of smart contracts. However, BRC-20 tokens require a Bitcoin wallet to mint and trade. The rise of meme coins has contributed to a significant increase in transaction fees for Bitcoin miners.
(By James Van Straten)
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