Introducing Binance: A Single Point of Contact for Trading and Subscribing to BRC-20 Inscription Tokens
The biggest exchange in the world, Binance, has launched an in-app Inscriptions Marketplace that allows users to purchase Bitcoin BRC-20 tokens, such as ORDI ($ORDI).
The Binance Inscriptions Marketplace functions as a “one-stop solution” incorporated inside the Binance Web3 Wallet, according to a statement made by the cryptocurrency exchange. With the use of this tool, customers can exchange a variety of inscriptions, such as Ethereum Virtual Machine (EVM) and BRC-20 tokens.
A test token standard called BRC-20 was created specifically for fungible tokens on the Bitcoin network.BRC-20 tokens use Ordinals inscriptions, as opposed to Ethereum’s ERC-20 tokens, which make use of the blockchain’s smart contracts. The smallest Bitcoin denominations, known as Satoshis (Sats), can have data engraved on them thanks to this technology.
The creation of meme coins based on the Bitcoin network has been made easier by the introduction of BRC-20 tokens. According to CoinGecko data, the total market valuation of BRC-20 tokens has surpassed $2.8 billion thanks to tokens like $ORDI, $SATS, and $PIZA.
The Bitcoin community is divided about ordinals and BRC-20 tokens. According to Luke Dashjr, the developer of Bitcoin Core, inscriptions are “exploiting a vulnerability” in Bitcoin Core, which is increasing blockchain spam and driving up transaction prices.
BRC-20 coins are showing resiliency and continuous uptake in the face of criticism. Binance is supporting this new token standard along with wallets such as Phantom. Interestingly, according to CoinGecko data, ORDI, the most valued BRC-20 token in terms of market capitalization, is in the top 100 cryptocurrencies overall.
The Inscriptions Marketplace was created with ease of use and accessibility in mind. It offers a safe and entertaining experience to everyone, from fans of BRC-20 to those who are new to Web3. With its wealth of features, the Inscriptions Marketplace is a welcome addition to the Binance Web3 Wallet and will improve users’ experiences on the decentralized web.
– Binance
