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BRC-20 Token Creates DeFi Boom

The BRC-20 token has been on hype since the last two months after Bitcoin token fungibility protocol development. Now, the price of this token has surged by roughly 4798%. Previously, the market capitalization of the token was just $10 million which has now reached $500 million.

This token is different from other tokens as Inscriptions and Ordinals are used for token minting and token transfers on the Bitcoin taproot network. This token created by an anonymous developer is used to provide additional layer of security on the Bitcoin network.

BRC Booster to Catalyse the Growth of BRC-20 Tokens

Traders of the BRC tokens are utilizing the potential of this token for innovation and growth. Many of them have even made millions by trading the token at Unisat.  The popularity of BRC-20 tokens makes it a hot topic amongst the enthusiasts. However, due to limited resources and information available, it is quite difficult to mint and trade these tokens which is quite similar to Ethereum network’s ERC-2O tokens.

BRCBooster aims to be a catalyst for  BRC-2O tokens. Despite being a  new platform, it has been able to grasp the attention of users due to its user-friendly interface. Since smart contract theory is not applicable to the Bitcoin network, the concept of decentralized exchanges powered by complex smart contracts becomes obsolete. However, BRCBooster has devised a solution that allows users to swap their BRC-20 tokens with Bitcoin, similar to the process of swapping ERC-20 tokens on platforms like Uniswap or 1inch.

This idea has grabbed the attention of venture capitalists and investors. After the DEX is launched, it will attract significant trading volumes to the BRC-20 tokens because of the limited availability of DEXs on Bitcoin.