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As mentioned earlier, in the world of cryptocurrency, change and evolution happen very quickly. The Src-20 standard is an experimental standard released for the Bitcoin blockchain, inspired by the Erc-20 standard of the Ethereum network. In the Src-20 standard, we see that developers can create or transfer fungible tokens using a protocol called Ordinal.
Currently, the smallest unit in the world of digital currencies is the “satoshi”, which can be applied to an asset. Ordinal is a way to store information in the Bitcoin network, which makes it possible to store appropriate information within each satoshi accordingly. This information is called special codes and in the form of natural numbers. Such an issue allows users to store a lot of information on the network.
Before we state the advantages and disadvantages of the Src-20 standard, we must state that although Src-20 tokens are referred to as fungible tokens, in reality it is a little different and these tokens are not fungible. In other words, these tokens can be traded in certain conditions and if they are in a set.
Compatibility with the Bitcoin blockchain using Ordinal
Simple mechanism and ease of use
High security due to the benefit of the proof-of-work protocol
No support for smart contracts
Complete dependence on Bitcoin, which slows down and increases the cost of transactions.
Low interaction with other standards
Before we examine the advantages and disadvantages of the Brc-20 standard, it should be noted that although we present Brc-20 tokens as exchangeable tokens, in reality, these tokens are not fully exchangeable. In other words, these tokens can only be traded under certain conditions and if they exist in a set.
Compatibility with the Bitcoin Blockchain Using Ordinals: Through the use of Ordinals, Brc-20 has significant compatibility with the Bitcoin Blockchain.
Simple mechanism and ease of use: The use of Brc-20 is very simple and provides great convenience for users.
High security due to the use of the proof-of-work protocol: the use of the proof-of-work protocol increases security in Brc-20.
Lack of smart contract support: One of the main disadvantages of Brc-20 is the lack of support for smart contracts, which can create limitations in the implementation of tokens.
Full dependence on Bitcoin: Brc-20 is completely dependent on Bitcoin, which can slow down transactions and increase their cost.
Low interoperability with other standards: Brc-20 may have limitations in interoperability with other standards that can reduce flexibility.
Limitation in performance and low developer: Brc-20 is expected to have limitations in performance and developer that could slow down the development process. Limitation in performance and low developer
Now the question may be asked which standard can be better and more useful: Src-20 or Brc-20 standard? When introducing the Brc-20 with Ordinals, the developers saw an interesting and exciting path for themselves. Based on and derived from the Ethereum network’s ERC-20 standard, this standard allows developers to create and transfer fungible tokens using the Ordinals protocol.
The blockchain world is always evolving. Standards and protocols are constantly changing, providing exciting paths for developers and users alike. One of the latest developments in this field is the Src-20 and Brc-20 standards in the Bitcoin network, which try to add new benefits and capabilities to this network. In this article, an attempt was made to provide useful information regarding the difference between Src-20 and Brc-20 standards in order to better evaluate their development conditions in the future by comparing the features and benefits of each.
