BRC20-2.0: The Next Billion-Dollar Protocol on Bitcoin?

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1/ Bitcoin's token landscape is about to evolve.

Until now, two protocols have dominated the scene: BRC20 and Runes.

Let’s dive into their history, strengths, and why BRC20-2.0 might be the perfect blend of fun and functionality.

2/ The story begins with BRC20, founded by @domodata.

They were the first to bring shitcoins to Bitcoin, with the legendary $ORDI surpassing $1 billion in market cap.

This innovation was built on top of the Ordinals protocol by @rodarmor.

3/ On the other side, we have Runes, created by @rodarmor himself.

Instead of using Ordinals, Runes rely on a different system (though they still integrate with the Ord Wallet).

While technically superior and efficient, Runes haven’t captured the same hype, sitting under $1B combined market cap for all tokens.

4/ The contrast is stark:

BRC20: Fun, hype-driven, but inefficient, plagued by indexing issues, and known for spamming the blockchain.

Runes: Efficient, well-designed, but with limited adoption (< $1M daily volume on Magic Eden).
Both have strengths but leave room for improvement.

5/ Enter BRC20-2.0, led by @bestinslot.

Known for their expertise in Bitcoin data aggregation, they’re bringing much-needed improvements to the BRC20 ecosystem.

You can check out their aggregator here:

[Best in Slot]The leading Bitcoin aggregator, providing APIs, live price charts, and on-chain token data. Buy, sell, and list BRC20, Runes, and Ordinals across top exchanges.https://bestinslot.xyz/

6/ The two game-changing upgrades for BRC20-2.0:

1️⃣ Open-source indexing: A solution similar to Runes’ index.redb that could solve BRC20’s indexing woes.

2️⃣ Smart contract capabilities: Unlocking an ocean of creativity, from DeFi to entirely new use cases.

By addressing BRC20's flaws while keeping its inherent fun, BRC20-2.0 has the potential to ignite another wave of innovation on Bitcoin.

The question remains:

Will BRC20-2.0 become the next billion-dollar protocol?

From my perspective, the answer is yes.

What do you think?
Let’s discuss 👇