BRC-20 is an experimental token standard for issuing fungible tokens on the Bitcoin network. The key difference between BRC-20 and ERC-20 lies in the fact that the Bitcoin network doesn't support smart contracts.
Instead, the BRC-20 network accomplishes token contract deployment, minting, and transfers using the Ordinals protocol, which defines digital inscriptions in JSON data format. In other words, developers can create and issue fungible tokens using the Ordinals protocol.
Getting Started with BRC-20 Tokens on OKX
- New Users:
Download the OKX mobile app and create a wallet to begin managing BRC-20 tokens. - Existing Users:
Open your OKX app and navigate to the wallet section. Add BRC-20 Tokens:
- Go to Digital Asset Management
- Search for your desired BRC-20 token
- Add it to your digital asset list
Managing Your BRC-20 Assets
- View Token Transactions:
Select your BRC-20 token from the Digital Assets list to view its transaction history. Trading BRC-20 Tokens:
- Select Trade for quick buy/sell actions
- Monitor your BRC-20 asset portfolio
👉 Start Trading BRC-20 Tokens Today
Transferring BRC-20 Assets
Sending Tokens:
- Select Send
- Choose the desired digital inscription
- Click Confirm
- Enter recipient address to complete transfer
You can customize your registration amount, provided it doesn't exceed your available balance before transfer.
How to View and Switch Your BTC Address
- Open the OKX app and select Wallet
- Navigate to Digital Assets and select BTC
- Choose Switch to view all available BTC addresses
👉 Master BTC Address Management
FAQ Section
Q: What is BRC-20?
A: BRC-20 is a token standard on Bitcoin's network using the Ordinals protocol for fungible token creation and management.
Q: How do I receive BRC-20 tokens?
A: Share your BRC-20 compatible address with the sender through OKX wallet's receive function.
Q: Can I store BRC-20 tokens in any Bitcoin wallet?
A: No, you need a wallet like OKX that specifically supports BRC-20 token standard.
Q: Are BRC-20 transactions fast?
A: Transaction speed depends on Bitcoin network congestion, similar to regular BTC transfers.
Q: What makes BRC-20 different from ERC-20?
A: BRC-20 operates on Bitcoin without smart contracts, while ERC-20 runs on Ethereum with smart contract functionality.
Q: How secure are BRC-20 tokens?
A: They inherit Bitcoin's security but require proper wallet support like OKX for safe management.