Do Kwon to Remain in Custody While Montenegro Courts Consider Extradition Request: Report
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)

Courts in the country approved bail for the Terraform Labs founder, but a South Korea extradition request is set to keep him in jail.

BlackRock applies for spot Bitcoin ETF — a US first, if approved
Cointelegraph.com News (RSS)

The investment firm joins a long line of applicants; ARK is among those still waiting to hear from the SEC and Grayscale has appealed its rejection.

‌Internal tensions at the SEC exposed in Hinman documents
Cryptopolitan (RSS)

Hinman documents recently made public have exposed internal tensions within the U.S. Securities and Exchange Commission (SEC), raising concerns about the agency’s intentions in the continuing legal battle with Ripple. The documents revealed the SEC’s position on crypto, which impacted investor safety. Stuart Alderoty, the chief legal officer of Ripple, claims that the SEC purposefully increased regulatory ambiguity. 

Ripple’s claims: SEC purposefully increased regulatory ambiguity

According to reports, recent revelations in the Hinman documents, which have become public amid the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), have exposed internal conflicts within the SEC. This development has sparked inquiries into the SEC’s actions and decision-making processes surrounding cryptocurrencies.

The Hinman documents cover the internal SEC correspondence relating to a speech given by former director William Hinman in 2018. Crypto analysts claims that the Hinman records present a picture of an organization that is more concerned with enlarging its purview than carrying out its core duty of safeguarding American investors:

One analyst pointed out that one of the unredacted Hinman documents showed that the Office of General Counsel of the SEC had accepted the potential that crypto would fall under an “other” category. This shows that cryptocurrencies are not classified as securities under the Howey test’s notion of a controlling organization because there isn’t one. Similar to other items like prescription drugs or credit cards, laws may still be necessary to protect consumers.

According to market analyst, the main problem is that while cryptocurrencies may have certain traits of securities, their essential qualities set them apart from conventional securities. As a result, although cryptocurrency regulation is essential, it shouldn’t be left entirely in the hands of securities regulators, who are seen as “power-hungry.”

Ripple and crypto industry react to Hinman document disclosure

Reports have it on good authority that the disclosure of the Hinman documents has opened a Pandora’s box of potential implications for Ripple and the greater crypto industry. “Now that these documents are public, it demonstrates the rabbit hole goes much, much deeper, and further document requests will be issued soon […] be it from other litigants, Congressional investigators, FOIA requests, etc

Important to remember as you read the Hinman documents today. Hinman and the SEC lied in court for over a year saying this speech was Hinman's personal opinion only. We had to piece together video of their own words to show they were lying. What are the repercussions for a US… pic.twitter.com/AF08HlYMTT
— Digital Asset Investor (@digitalassetbuy) June 13, 2023

According to analysts, other records that illuminate the circumstances surrounding Hinman’s speech and demonstrate the conceivable participation of numerous institutions and people in forming the story may be requested. Investigating SEC staff contacts regarding why Hinman disobeyed their advice to leave ether out of his speech is part of this process.

Although William Hinman, the former head of the SEC’s corporation finance division, received a lot of attention this week for his insider discussions that led to the creation of a five-year-old speech, there were never any formal commission-approved rules or guidelines regar...

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‌OKX expands into the Middle East with licensing approval
Cryptopolitan (RSS)

Cryptocurrency exchange OKX has obtained a minimal viable product preparation license from the Middle Eastern division, enabling its expansion into the Middle East. The license allows OKX to establish an office in Dubai’s World Trade Center and increase its local workforce to 30 employees. The crypto exchange emphasizes the importance of regulatory compliance and security in the current market climate.

OKX to offer spot, futures, and fiat services in Middle East expansion

According to reports, cryptocurrency exchange OKX’s Middle Eastern division has obtained a minimal viable product preparation license as part of its expansion plans in the Middle East.

In a notice dated June 15, the exchange stated that following the regulator’s licensing permission, the exchange expected to extend its employees in Dubai to 30 persons and had already established an office within the city’s World Trade Center structure. In July 2022, the crypto exchange received a provisional operating license from VARA, enabling it to provide goods and services in the area.

OKX has received an MVP Preparatory License from Dubai's VARA, marking a pivotal step in our strategic UAE expansion. 🎉

New hires, new office & extended partnerships—we're proud to shape the Web3 & crypto landscape in the Middle East. 🤝

Learn more: https://t.co/9Akhh88JP4 pic.twitter.com/HmHd8CMq4y
— OKX (@okx) June 15, 2023

OKX’s global head of government relations, Tim Byun, emphasized the importance of licensing in Dubai as a crucial component of the exchange’s global regulatory compliance strategy. Byun highlighted the need for virtual asset service providers (VASPs) to prioritize security, transparency, compliance, and strong regulatory backing in the current uncertain market environment.

According to the exchange the preparatory license provided the exchange with the regulatory wiggle room needed to meet specific standards before going live. The company announced its intention to offer spot, futures, and fiat services in addition to spot pairs, deposits, and withdrawals in U.S. dollars and United Arab Emirates dirhams.

Coinbase and other international crypto companies have attempted to investigate the UAE as a potential new market in light of the U.S. government’s crackdown on digital assets. Coinbase and Binance became the targets of separate lawsuits by the U.S. Securities and Exchange Commission in June. Letitia James, the attorney general of New York, declared that CoinEx would no longer be allowed to conduct business in the state.

According to the report, the expansion came after the crypto exchange declared that it would cancel its operations in Canada by June 22. On March 20, cryptocurrency exchange OKX announced via email to its Canadian users that it would cease providing services and restrict the opening of new accounts in Canada as of March 24, 2023, 12:00 AM EST. The decision was attributed to “new regulations.” OKX specified that existing customers in Canada must close their options, margins, perpetual, and futures positions by June 22 and withdraw any fiat or tokens by that date.

OKX selects France as a European hub, seeks regulatory approval

On May 23, the exchange chose France as its European hub. It had sought regulatory approval. According to reports, it will ultimately comply with French regulatory requirements once it registers with the Autor...

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Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Cointelegraph.com News (RSS)

Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.

First Mover Asia: Hong Kong as Crypto Hub? The City's Strict Banking Requirements May Be an Obstacle
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)

A Hong Kong-based entrepreneur says that while the digital assets regulation is "overall friendly" The city’s digital assets regulation is overall friendly, banking regulations are not yet conducive to the industry's growth. ALSO: Bitcoin surges post-BlackRock ETF filing.

How to Buy Cryptocurrency Using a Prepaid Card
Cryptopolitan (RSS)

In the fast-paced digital world, buying cryptocurrency has never been easier. With its rapid expansion and growing acceptance globally, more people are turning towards this alternative form of investment. Among numerous payment methods available, prepaid cards have emerged as a popular and convenient choice for buying cryptocurrency. 

This method offers anonymity, ease of use, and a simple way to manage funds. Whether you’re a seasoned investor or a beginner exploring the world of digital currencies, this Cryptopolitan guide will give insights into buying cryptocurrencies using a prepaid card, ensuring a seamless and secure transaction.

Can you buy crypto with a prepaid card? 

Yes, it is possible to purchase cryptocurrency using prepaid cards at various exchanges such as eToro, CEX, and Coinmama. 

A prepaid card is a payment card that has funds pre-loaded onto it, even those used as gift cards. It functions like a debit card but isn’t connected to a checking or savings account. To use it, you have to add money to the card beforehand, and then, it can be used to purchase items or withdraw cash.

So, purchasing cryptocurrency using a prepaid gift card, such as a prepaid Visa debit or gift card, or a prepaid Mastercard, should be possible since these cards typically authorize bank transfers for buying digital currencies.

While most specialized crypto exchanges accept gift cards, some trading platforms or brokers may not allow direct purchases of cryptocurrency and other cryptocurrencies with gift cards. In such cases, it is suggested to use third-party payment platforms like PayPal for buying cryptocurrency.

As for the policy, you can buy and sell digital assets using prepaid cards through licensed exchanges as there are no policies prohibiting it. In collaboration with the Bybit exchange, Mastercard has also launched a cryptocurrency card called Bybit Card in the UK and EU markets, which supports a core group of cryptocurrencies.

Some crypto exchanges do not accept prepaid cards, but investors can still deposit funds through third-party payment platforms such as PayPal, Venmo, Skrill, Neteller, or Stripe.

Exchanges where you can buy crypto with a prepaid card

Debit and credit cards are the most commonly used payment methods to purchase cryptocurrency. However, credit cards may not be the most suitable choice due to high fees. Nevertheless, they are convenient.

Using a debit card to buy cryptocurrency may be quicker, but it may also result in higher fees compared to using a bank transfer (ACH or SEPA). When deciding between the two options, consider your time preference. If you need to purchase cryptocurrency right away, using a debit card may be helpful. This was particularly useful during the May 2022 crypto crash, as those who bought when the market was low were able to catch a 20% bounce.

Using a prepaid card is a secure way to purchase cryptocurrency, which is a concern for both novice and seasoned traders. However, it is important to note that not all cryptocurrency exchanges accept prepaid cards. Some of the best platforms that currently accept prepaid cards include:

eToro – Regulated Crypto Platform with Zero Fees on USD Deposits

Our top recommendation for buying cryptocurrency with a prepaid card is eToro. It’s very easy to use, even for beginners, and you can complete your purchase within minutes. Opening an account is also a quick process. You just need to enter your personal details, upload a copy of your government ID for verification, and provide proof of address. Once verified, you can buy cryptocurrency or any of the other 60+ cryptocurrencies supported on the exchange by searching for them.

To buy cryptocurrency, you must add funds to your wallet. You can do this by going to the deposit page, entering the desired amount, choosing...

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How A Crypto Bank Card Links Digital and Traditional Financial Systems
Cryptopolitan (RSS)

Cryptocurrencies have transformed the financial landscape, offering individuals a decentralized and secure alternative to traditional forms of money. As the adoption of cryptocurrencies continues to expand, so does the need for practical methods to access and utilize these digital assets in everyday life. This is where crypto bank cards come into play, changing how we interact with cryptocurrencies and bridging the gap between digital and traditional financial systems.

What is a Crypto Bank Card?

A crypto bank card is a payment card that allows you to spend your cryptocurrencies at any merchant that accepts traditional payment methods. It bridges your digital assets and the conventional financial system, providing a convenient and familiar payment experience. With a crypto bank card, you can seamlessly convert your chosen cryptocurrency into fiat currency at the point of purchase, allowing you to enjoy the benefits of cryptocurrencies without requiring the merchant to accept them directly.

Crypto Vs. Traditional Cards

While crypto bank cards may resemble traditional debit or credit cards in appearance, they operate on a fundamentally different principle. Standard cards are typically linked to a bank account, whereas crypto bank cards are connected to one or more cryptocurrency wallets. When you purchase using a crypto bank card, the card provider facilitates the instant conversion of your chosen cryptocurrency into the merchant’s preferred fiat currency. This conversion happens in real time, ensuring a smooth transaction experience.

How Crypto Bank Cards Work

Crypto bank cards operate on a unique infrastructure that combines the world of cryptocurrencies with traditional financial systems. The key components and processes that make crypto bank cards function seamlessly include:

Card Integration with Cryptocurrency Wallets

Most card providers offer their wallets or integrate with popular cryptocurrency wallets. During the card setup process, you connect your card to a specific wallet address or accounts associated with the cryptocurrencies you wish to spend. This integration allows the card to access and convert your digital assets into fiat currency in real time.

Conversion Process

The conversion process occurs behind the scenes when you purchase using your crypto bank card. The card provider instantly calculates the value of the transaction in the merchant’s preferred fiat currency and determines the equivalent amount of cryptocurrency needed for the purchase. This conversion occurs based on the prevailing exchange rates at the time of the transaction. The fiat currency is then transferred to the merchant, while the corresponding amount of cryptocurrency is debited from your linked wallet.

Real-Time Exchange Rates

The exchange rates in crypto bank card transactions come from reputable oracles or exchanges. These rates fluctuate in real time due to the dynamic nature of cryptocurrency markets. It’s important to note that fees vary slightly between card providers, so comparing rates and fees is advisable before selecting a particular card. Keeping an eye on exchange rate volatility ensures transparency and allows you to make informed decisions when using your crypto bank card.

Transaction Security and Authentication

The cards prioritize security to protect your funds and personal information. Most cards employ robust security measures, including encryption technology, multi-factor authentication, and fraud detection systems. These measures safeguard your transactions, ensuring only authorized users can access and use the card. Some providers also offer additional security features, such as tran...

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Exploring Smart DeFi Options You Can Try Today With Your Crypto
Cryptopolitan (RSS)

Decentralized Finance, or DeFi, has emerged as a transformative force in finance. By leveraging blockchain technology, DeFi offers a range of innovative solutions that challenge the traditional financial system. As we stand on the cusp of technological advancements, it is crucial to understand the possibilities and achievements that DeFi options bring to the table. 

Protecting Against Volatility: Stablecoins

In the ever-fluctuating world of cryptocurrencies, volatility has been one of the significant challenges. Enter stablecoins, a remarkable DeFi ecosystem innovation that addresses this issue. Stablecoins have become one of the most popular DeFi use cases, providing users with a more accessible, efficient, and stable alternative for managing and transferring value.

Stablecoins are cryptocurrencies that maintain a stable or fixed value by being pegged to a specific asset, typically the US dollar. Stablecoins aim to reduce the price volatility commonly associated with other cryptocurrencies by pegging their value. This stability makes them more attractive for everyday transactions and a reliable store of value.

The benefits of stablecoins extend beyond mere price stability. They offer a range of advantages that make them a valuable tool within the DeFi ecosystem. These include:

Provide a standard unit of account, allowing users to transact and track their finances without the volatility inherent in other cryptocurrencies. This stability enables greater confidence and predictability in financial transactions.

Offer an alternative for individuals and businesses in regions with unstable or inflationary fiat currencies. Using stablecoins, they can mitigate the risks associated with their local currencies and access a more stable value.

Facilitate faster and more cost-effective transactions compared to traditional financial systems. The decentralized nature of stablecoin transactions eliminates the need for intermediaries, such as banks, thereby reducing fees and increasing transaction speed. 

Notable examples of stablecoins include Tether (USDT), USD Coin (USDC), and Dai (DAI), each with its unique approach to maintaining stability and widespread adoption. These stablecoins have gained traction across various DeFi platforms, bridging the traditional financial world and the decentralized future of finance.

Empowering Decentralized Governance: DAOs

DAOs are online platforms designed to enable community-based decision-making and governance of projects, free from centralized control. They empower individuals to shape the project’s future and collectively make crucial decisions.

The core principle behind DAOs is that power and decision-making authority should be distributed among the community members rather than concentrated in the hands of a few. By utilizing blockchain technology and smart contracts, DAOs provide transparency, accountability, and autonomy in decision-making processes.

The operation of DAOs typically involves the issuance of governance tokens. These tokens grant holders the right to vote on the community’s proposals and decisions. The voting power is proportional to the number of tokens held, giving participants a voice based on their stake in the project.

It is important to note that DAOs are still evolving and have challenges. These challenges include ensuring effective decision-making processes, preventing governance token concentration, and managing conflicts of interest. However, the potential for DAOs to reshape governance structures and foster community-driven decision-making is undeniable.

Revolutionizing Trading: Decentralized Exchanges (DEXs)

The traditional financial system has long relied on centralized exchanges to facilitate the trading of assets. However, the rise of decentralized finance has ushered in a new era of tra...

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How to Make the Best Use of Top 10 Arbitrum Analytic Tools
Cryptopolitan (RSS)

Arbitrum alleviates the scalability and high transaction fees plaguing Ethereum while maintaining compatibility with the Ethereum Virtual Machine (EVM) and existing smart contracts. By bundling transactions and submitting summaries to the Ethereum mainnet, Arbitrum analytic tools ensure significant transaction speed and cost efficiency. However, utilizing dedicated analytic tools becomes imperative in understanding the trends, transactions, and market dynamics surrounding these digital assets.

An analytic tool is a software or platform designed to collect, process, and analyze data to provide insights and valuable information. These tools examine various data types, such as financial, market, user, or network data, and extract meaningful patterns, trends, and statistics. Analytic tools often employ data visualization, statistical analysis, and machine learning algorithms to help users understand and interpret complex data sets. They are crucial in decision-making, strategic planning, and performance evaluation across industries and domains.

Here are the top 10 Arbitrum analytics tools that support the network:

Nansen Portfolio

Nansen Portfolio is a platform developed by Nansen, a company specializing in blockchain analytics and insights. It provides users, particularly crypto investors, a personal DeFi dashboard that offers critical data and aggregated insights for their on-chain holdings and activities.

With Nansen Portfolio, ARB investors can create multiple portfolio dashboards by connecting cross-chain wallets. This feature lets them instantly access essential data and gain valuable insights into their on-chain holdings and activities. Users can track market movements, assess their exposure, view performance over time, and leverage Nansen’s analytics tools for deeper exploration. The platform offers comprehensive coverage of 476 protocols and 42 chains, including popular ones like Ethereum, Solana, and Cosmos, with ongoing additions to the supported chains.

CoinStats

CoinStats is a comprehensive platform designed to assist users in managing their cryptocurrency and DeFi assets. It offers a range of features and functionalities to track, analyze, and oversee crypto portfolios.

One of the primary features of CoinStats is its centralized dashboard, which allows users to monitor their crypto holdings. It supports popular cryptocurrency platforms like Binance and Coinbase, among others, enabling users to stay informed about their investments.

CoinStats also provides a dedicated DeFi wallet that allows users to manage their crypto and DeFi assets in one place. Users can perform various actions such as buying, selling, swapping, tracking, and earning on their crypto assets. The platform supports swaps on chains, including Arbitrum, Binance Smart Chain (BSC), Ethereum, and Polygon. Additionally, users can sync their bank cards for fiat-to-crypto purchases.

CoinStats also offers a crypto profit calculator. The calculator helps users calculate gains and losses, allowing them to evaluate the profitability of their crypto investments. The platform emphasizes security and implements advanced measures, including military-grade encryption, to protect user data and assets.

NFTScan

NFTScan is a website that serves as an NFT explorer, allowing Arbitrum users to explore and track NFTs on various blockchain networks. It provides tools and features to analyze NFT trading data, collections, sales, volume, and other relevant information for blockchains such as Ethereum, Polygon, Solana, etc.

As an NFT explorer, NFTScan.com enables users to access valuable insights into the NFT market. They can explore NFT marketplaces, review recent transactions, and monitor live minting activities. The platform offers a comprehensive resource for individuals interested in NFT, providin...

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Exploring the Features of Top 10 NFT APIs on Polygon
Cryptopolitan (RSS)

The emergence of NFTs transforms how we perceive digital ownership, and the Polygon network has gained significant popularity as a blockchain platform for NFT-related endeavors. Polygon provides a unique ecosystem for NFT development and transactions, characterized by scalability, affordability, and a thriving community. To enhance the seamless integration and advanced capabilities of NFTs on the Polygon network, a wide range of NFT APIs have been developed, empowering developers with powerful tools and features.

Here are the top 10 NFT APIs on Polygon. Note that some of these are multi-chain, i.e., support other blockchains.

Ownerfy API 

Ownerfy API provides a comprehensive set of features and functionalities to enable developers to integrate NFT capabilities into their applications, websites, or platforms seamlessly. With the Ownerfy API, developers can leverage various functionalities such as wallet creation, direct minting to customer wallets, QR code generation, NFT metadata updates, smart contract deployment, and bulk NFT transfers.

One of the significant advantages of the Ownerfy API is that it allows developers to incorporate NFT capabilities without requiring their customers to have prior knowledge of blockchain or crypto. The entire process can be completely invisible to the customer, providing a seamless user experience within the developer’s application or website. 

The Ownerfy API handles all the complexities of cryptocurrency under the hood, eliminating the need for developers to manage blockchain backend infrastructure or hire blockchain developers. It manages transactions efficiently, retrying them as necessary to account for adverse or unreliable blockchain conditions. 

Alchemy NFT API

The Alchemy NFT API, provided by Alchemy, is a valuable tool for Polygon developers looking to incorporate NFTs into their applications. This API allows easy access to data related to NFTs on various blockchains, providing detailed information such as metadata, ownership, and transaction history. It offers advanced features like batch queries and real-time event subscriptions, enabling developers to build high-performance and reliable NFT-based applications.

With the Alchemy NFT API, developers can fetch and display NFTs for their users, making it suitable for creating NFT projects like digital art marketplaces or collectibles platforms. The API supports actions such as resolving wallet addresses based on ENS domains, obtaining a list of NFT holders for a specific collection, retrieving all NFTs owned by an address, checking the owner of an NFT, and filtering out spam NFTs.

To start with the Alchemy NFT API, their quickstart guide in the official documentation explains the process of setting up the repository, choosing a package manager, selecting a suitable library (such as Alchemy SDK, Javascript Fetch, or Javascript Axios), and installing the necessary dependencies. It provides step-by-step instructions to initialize projects, install the Alchemy SDK, and execute sample code for interacting with the NFT API.

Transpose API

The Transpose API is a tool that provides developers with easy and reliable access to real-time NFT data. It offers a range of endpoints and features that allow developers to retrieve comprehensive information about cryptocurrencies and blockchain transactions. 

Developers can use REST APIs or perform low-latency SQL queries to retrieve and manipulate data based on their requirements. The API supports pagination and provides over 50 endpoints, making it suitable for various blockchain use cases. It also offers a dedicated infrastructure for demanding workloads, ensuring high performance and availability.

Developers can also use the API to analyze financial activity, meet tax and compliance requirements, track NFTs, calcula...

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Crypto lender Abra has been insolvent since March, says Texas regulator
Cointelegraph.com News (RSS)

Abra and its CEO William Barhydt have been issued with an emergency cease and desist order.

U.S. Court Will Rule on Terraform Labs' Push to Dismiss SEC Lawsuit Within a Month
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)

Was UST a security because it was designed for practical uses rather than as an investment?

OKCoin Accused by FDIC of Making False Claims About Customer Protections
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)

OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims.

‌How to Comparatively Choose and Deploy A BRC-20 Token?
Cryptopolitan (RSS)

Cryptocurrencies have revolutionized the financial landscape, and among the various digital assets that have emerged, token standards have played a crucial role in facilitating value creation and transfer. One such standard is the BRC-20 (Bitcoin Request for Comment 20) token, which operates on the Bitcoin blockchain. This Cryptopolitan guide will explore the concept of BRC-20 tokens and their deployment, briefly comparing them to the widely known ERC-20 token standard on the Ethereum network.

Understanding BRC-20 Tokens

The creation of Bitcoin NFTs called Ordinals and BRC20 tokens was made possible by the Taproot upgrade to the Bitcoin network in 2021. This upgrade increased privacy, security, and scalability and allowed more data to be attached to Bitcoin, making it possible to attach images and create Ordinals. While attaching data to Bitcoin has always been possible through technical loopholes, the amount of data you could attach was limited. The Taproot upgrade allows users to store up to 4 Mbs of data, opening up the possibility of attaching other information.

The creator of Ordinal Theory, Casey Rodarmor, designed the first ordinal client to use Taproot to make Inscriptions. BRC-20 tokens, an experimental token standard, were developed following the launch of the Ordinals Protocol.

The first BRC-20 token to be generated was called “ordi.” To enable BRC-20 tokens, bitcoin wallets immediately adopted the technology. In the following months, many more BRC-20 tokens, many meme tokens, were released. Some BRC-20 tokens have seen stratospheric price jumps and amassed substantial market caps as of May 2023. 

How does Bitcoin Ordinals work?

The Ordinals protocol enables assigning a serial number to each satoshi. This means that every satoshi within the Bitcoin network can be identified uniquely.

These ordinals facilitate the tracking of satoshis throughout transactions. By appending supplementary data or metadata to a satoshi, such as artwork, collectibles, or virtual goods, users can generate distinctive digital assets tied to specific satoshis.

Bitcoin ordinals, known as “Bitcoin NFTs,” differ from conventional NFTs regarding their underlying infrastructure. While most NFTs are linked to blockchain platforms like Ethereum, Bitcoin ordinals leverage the Bitcoin blockchain for their creation and storage. The Ordinals protocol introduces a distinct approach to representing and monitoring unique digital assets on the Bitcoin network.

BRC-20 tokens on the Ordinal Protocol

BRC-20 tokens were developed as an experimental token standard to facilitate the creation and transfer of fungible tokens on the Bitcoin network, similar to the ERC-20 token standard used on Ethereum and other EVM-based blockchains. 

The functioning of BRC-20 tokens involves using ordinal inscriptions on satoshis, the smallest units of Bitcoin. Through Bitcoin ordinals, each satoshi is assigned a unique number and can be identified within the Bitcoin network. JSON inscriptions are attached to these satoshis, defining the core features and characteristics of the BRC-20 tokens. This process is similar to smart contracts and allows for creating and managing BRC-20 tokens. While Ordinals are used to create NFTs by tagging individual satoshis, BRC-20 tokens involve minting satoshis to hold information about an entire collection of tokens. 

BRC-20 tokens possess fungibility, meaning each token holds the same value and can be freely exchanged or transferred like any other cryptocurrency. They can be spent or transferred between users on the Bitcoin network. While BRC-20 tokens and ERC-20 tokens share similarities in operating on a parent blockchain network, they differ because of the distinctive infrastructu...

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Investors want crypto, but not without TradFi backing: Nomura survey
Cointelegraph.com News (RSS)

A Nomura Laser Digital survey has revealed the majority of institutional investors polled are still keen on crypto.