MAP Protocol

Ethereum

Token

Bitcoin

<h4><strong>BRC-201 offers a solution that not only enhances scalability for BRC-20 apps and tokens. But also facilitates interoperability, even across non-Ethereum Virtual Machine (EVM) chains.</strong></h4> 
<p>Developed by MAP Protocol, a pioneering force in the realm of Bitcoin layer-2 solutions and peer-to-peer omnichain infrastructure. This new token standard leverages the power of Zero-Knowledge (ZK) technology to push the boundaries of BRC-20 tokens.</p> 
<h5><strong>What is the BRC-201 Token Standard?</strong></h5> 
<p>BRC-201 serves as an extension protocol specifically designed to address two critical challenges faced by BRC-20 tokens: Scalability and interoperability. While BRC-20 tokens have become the standard for issuing and managing tokens on the Ethereum network, their potential has been limited by scalability concerns.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Seems more people are discovering the Bitcoin L2, implementing zk proofs, which has created the standard BRC-201.</p> 
 <p>BRC-201 is an extension protocol to the BRC-20 standard, making BRC-20 apps/tokens scalable and interoperable (even with non-EVM chains).</p> 
 <p>Basically, <a href="https://twitter.com/search?q=%24MAP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MAP</a> enables… <a href="https://t.co/zdVsUEg4lw">pic.twitter.com/zdVsUEg4lw</a></p> 
 <p>— Res (@resdegen) <a href="https://twitter.com/resdegen/status/1735248354664223025?ref_src=twsrc%5Etfw">December 14, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This new token standard seeks to overcome these limitations and expand the reach of <a href="https://www.altcoinbuzz.io/?s=brc-20" target="_blank" rel="noopener">BRC-20 tokens</a> beyond the Ethereum ecosystem.</p> 
<h5><strong>Key Features of BRC-201 Tokens</strong></h5> 
<ol> 
 <li><strong>Scalability Enhancement:</strong> By providing an extension layer, BRC-201 optimizes the performance of BRC-20 apps and tokens. Allowing them to operate more efficiently and handle a larger volume of transactions.</li> 
 <li><strong>Interoperability Across Chains:</strong> BRC-201 goes beyond the constraints of the Ethereum network by enabling interoperability with non-EVM chains. This means that BRC-20 tokens utilizing the BRC-201 extension can seamlessly interact with blockchains outside the Ethereum ecosystem. Opening up new possibilities for cross-chain functionality.</li> 
 <li><strong>MAP Protocol Integration:</strong> <a href="https://www.mapprotocol.io/es" target="_blank" rel="noopener">MAP Protocol</a> is a Bitcoin layer-2 solution that facilitates DeFi on top of Bitcoin. Unlike traditional wrapped Bitcoin solutions, MAP Protocol relies on Bitcoin’s security without the need for wraps.</li> 
 <li><strong>Fully Functional Ecosystem:</strong> The BRC-201 extension is not a theoretical concept but a tangible solution with a fully functional ecosystem. Many live projects are already utilizing BRC-201 to overcome the limitations of traditional BRC-20 tokens.</li> 
</ol> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e3.png" alt="🟣" class="wp-smiley" style="height: 1em; max-height: 1em;"> Level up the BRC-20 tokens market liquidity with BRC-201<br>– MAP Protocol’s technical community has released the BRC-201 protocol. Through MAP Protocol, a peer-to-peer cross-chain interoperable network, BRC-20 community members can easily trade with other tokens on other chains. <a href="https://t.co/1xRUD6KDie">pic.twitter.com/1xRUD6KDie</a></p> 
 <p>— MAP Protocol <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e3.png" alt="🟣" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin layer-2 (@MapProtocol) <a href="https://twitter.com/MapProtocol/status/1722096499767800134?ref_src=twsrc%5Etfw">November 8, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The development of the BRC-201 inscription, indexing, and messenger service has been completed and has now entered the testing phase. This signifies a crucial step toward the practical implementation of BRC-201. Bringing scalability and interoperability to the forefront of the BRC-20 standard.</p> 
<h5><strong>Conclusion</strong></h5> 
<p>BRC-201 emerges as a pivotal advancement in the world of blockchain protocols. Offering a scalable and interoperable solution for BRC-20 tokens. BRC-201 not only addresses the limitations of BRC-20 but also opens up new avenues for decentralized finance on top of Bitcoin.</p> 
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<p><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/brc-201-revolutionizing-scalability-for-brc-20-tokens/">BRC-201: Revolutionizing Scalability for BRC-20 Tokens</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

BRC-201: Revolutionizing Scalability for BRC-20 Tokens

Altcoin Buzz

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