[brc-20] General discussion

Thread for general brc-20 discussion

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What are the key future utilities you see in the brc-20s?

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This forum reminds me of BitcoinTalk but for meta-protocols.

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We’re gathering for the meta-discussions which means we’re still early. Glad to have all the great minds here :slight_smile:

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Great to have you Musin!

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Hi @domo , how can I have the permission to post proposal here? I have written a proposal but can not post it on General category. Thank you very much.

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proposal for $ordi governance utility

  1. as the first and most widely accepted brc20 asset , $ordi is already considered as the native token for brc20

  2. need a gov mechanism for people to vote on issues in brc20

  3. need a slash mechanism for preventing bad behavior of indexers

so I propose a proposal for $ordi gov utility

  1. people can use $ordi to vote future issues in brc20

  2. indexers stake $ordi and get slashed when wrong indexing result or bad behavior happens

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[BRC-223] Introduction to BRC-223

BRC-223 is a more advanced version of BRC-20, which simplifies the interaction between smart contracts and tokens. BRC-223 aims to address the limitations of BRC-20.

The BRC-223 standard is backwards compatible with BRC-20, meaning you can interact with these tokens as if they were BRC-20, using the standard functions. Any platform working with BRC-20 will also work with BRC-223.

An important aspect of deploying, minting, and sending tokens is the data and operatorData parameters, which is an enhancement over BRC-20 where only the recipient and amounts of tokens can be specified as part of a transfer. This allows new and exciting use cases such as accepting transfers only if a signed message is provided or specify a purpose for a transfer such that a recipient contract can take appropriate actions.

The data parameter is intended to be similar to the data parameter of a regular Ethereum transaction, and the standard intentionally does not enforce a specific format for this data only that the recipient defines what data it expects.

The operatorData is the second free bytes parameter associated with a token transaction. It is similar to the data parameter, except that it is explicitly intended for the operator to provide any information or reason for the transaction. In contrast, the data parameter may be provided by either the token holder, the operator, or both.

Ultimately the recipient is free to define which data and operatorData it expects and reject any transaction which does not match its expectations. In practice, we expect the recipient to mainly focus on the data parameter, with the operatorData only providing optional and additional information regarding the transfer.

One key aspect for the BRC-223 standard is to maintain backward compatibility with the older BRC-20 standard. The BRC-223 standard also allows some forward-compatibility. Namely, the format of the data and operatorData have been left free for future standard to define specific formats they need.

BRC-223 is a more advanced version of BRC-20, which simplifies the interaction between smart contracts and tokens. BRC-223 aims to address the limitations of BRC-20.

Learn more here:
docs.bitcoints(dot)org

Hi @domo please see the introduction to the BRC-223 standard above.

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Hello legends are we early? haha

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Wow … so glad to see this …

This is about making proposals for the protocols, giving our opinion?

i make swap and no tokens

New here, looking forward to participating in discussions.

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Can someone elaborate what is meant by “interaction with smart contracts” in this case? What does this mean in bitcoin’s case? I am only familiar with how smart contracts work on Proof of Stake chains. Thanks in advance!

Where did you hear this? The only concept I can think of that could be smart contract like is the virtual layer created by indexers (rules etc.)

check out the Governance category, i started a thread on the latest brc20 proposals.