OKX, one of the leading digital asset exchanges, has made history by announcing the introduction of the BRC-30 token standard. This groundbreaking addition to the cryptocurrency world is designed specifically for the Bitcoin blockchain and builds on the principles of the popular BRC-20 token standard.
The BRC-30 standard includes all of the essential elements of BRC-20 and adds advanced staking functionalities, allowing users to deposit, mint, and withdraw their tokens. Thanks to this new development, users can stake their BRC-20 tokens or bitcoin and receive BRC-30 tokens in exchange, earning rewards for their active participation in the Bitcoin network.
This proposal also presents a new opportunity for project teams to create their own BRC-30 tokens and attract initial users by creating staking pools. Furthermore, users can stake BTC to earn newly issued BRC-30 tokens or stake BRC-20 tokens to earn other BRC-30 tokens.
The BRC-30 token standard by OKX is expected to enhance the functionality of digital assets on the Bitcoin network, motivate active participation, and nurture a thriving community within the cryptocurrency ecosystem.
Coinbold compiles this report.