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Brc20 is Layer2 on Bitcoin Ecosystem.. Dyor

What is a BRC-20 token standard: An Overview

The rise of fungible tokens on the Bitcoin blockchain has brought about the introduction of the BRC-20 token standard, which is specifically designed for use with Bitcoin. Due to their interchangeability and equal worth, fungible tokens have significantly increased in popularity in the world of cryptocurrencies.
The emergence of fungible token standards like BRC-20 plays a vital role in the advancement of the Bitcoin blockchain. These standards open up avenues for tokenization and the creation of digital assets, expanding the range of possibilities beyond Bitcoin's role as a digital currency.

BRC-20 token standard, explained

The BRC-20 token standard is an experimental fungible token standard designed specifically for the Bitcoin blockchain. But who created the BRC-20 token standard? The BRC-20 token standard was created in early March 2023 by Domo, an enigmatic blockchain analyst. The standard supports the creation and transfer of fungible tokens via the ordinals protocol. Ordi, Vmpx and Pepe are examples of popular tokens on the BRC-20 token list.
That said, the BRC-20 token standard diverges significantly from its ERC-20 counterpart by foregoing reliance on smart contracts and making use of ordinal inscriptions instead. Bitcoin ordinal inscriptions have been supported on the Bitcoin network since Jan. 21, 2023, when software engineer Casey Rodarmor implemented the protocol. 
The upgrade allowed Bitcoin 
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 users to inscribe data such as JavaScript Object Notation (JSON) — which is basically code, images and text — onto satoshi tokens (ordinals). One satoshi is a fraction of one Bitcoin, and 100 million satoshis make up 1 BTC.In contrast to token standards such as ERC-20, TRC-20 and BEP-20, where smart contracts govern crucial processes, the BRC-20 standard operates under a distinct modus operandi.
It allows JSON inscriptions to be used to program satoshis. The satoshis with the inscriptions are referred to as ordinals, which are nonfungible in nature and share similarities with nonfungible tokens (NFTs). Being nonfungible means that each orindal is unique and has distinct attributes. When it comes to programming, smart contracts are more versatile when compared to ordinals. Ordinals are limited to token minting and transfers whereas smart contracts have more use cases.  
Among the key features of BRC-20 tokens is that they are fungible. This means that they are interchangeable and have equal value.