BRC-100: BRC-20 Hard Fork Meta-Protocol Activated On Bitcoin Mainnet
In Brief
Mikael.btc announced the activation of the BRC-20 hard fork, marking the first Meta-Protocol Fork led by BRC-100.
Creator of the BRC-100 protocol stack and the Runes State Machine (RSM), Mikael announced the successful activation of the BRC-20 hard fork. This marks the first Meta-Protocol Fork led by the BRC-100 protocol, which has been activated on the Bitcoin mainnet at block height 859,490.
Now, BRC-20 holders have an opportunity to receive forked assets in the BRC-100 protocol. These funds are accessible for viewing and trading on the inBRC marketplace or on the 100Swap decentralized exchange (DEX).
Holders of BRC-20 should have automatically received their funds. However, for those utilizing different wallets, encompassing those on the centralized exchanges (CEXs) or Layer 2 scaling solutions, there will be a waiting period, as these platforms take their time to allocate the assets.
The objective of the upgrade was to tackle the existing restrictions of BRC-20, namely, its lack of programmability, non-Turing completeness, limited scalability, and absence of decentralized finance (DeFi). This update is anticipated to enhance BRC-20 by reactivating it and integrating it with the protocol. Meanwhile, forked assets received by holders will be enabled for participation in all DeFi applications inside of the BRC-100 ecosystem.
Notably, this hard fork serves as an upgrade to BRC-20 but is not compatible with the original BRC-20. It introduces programmability and DeFi functionalities through the verified technologies of the BRC-100 protocol.
What Is The BRC-100 Protocol And How Does It Work?
The BRC-100 protocol functions as an extensible decentralized computing protocol built on Ordinals Theory. It can be elaborated further to enable decentralized applications (dApps) on Bitcoin.
It presents a modular approach to protocols and applications via inheritance and nesting, offering a foundation for expanding both the protocol and its applications. It determines a token that possesses computing capabilities and state transitions. This increases the functionality of the BRC-20 protocol, and the computing power and state transitions are enabled to be enhanced via the BRC-100 extension protocol.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
