TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin-native protocol BRC-20 integrates EVM compatibility following upgrade

  • Bitcoin's BRC-20 token protocol has added the BRC2.0 upgrade, which supports EVM compatibility.
  • The upgrade aims to allow developers to deploy smart contracts directly on the Bitcoin network.
  • BRC2.0 could spur the development of a DeFi ecosystem on the Bitcoin network.
Bitcoin-native protocol BRC-20 integrates EVM compatibility following upgrade
Michael EbiekutanMichael EbiekutanFXStreet

The BRC-20 token protocol has integrated Ethereum Virtual Machine (EVM) compatibility via the BRC2.0 upgrade on Monday, allowing developers to deploy smart contracts on the Bitcoin (BTC) network.

BRC2.0 introduces smart contracts compatibility on Bitcoin network

The Bitcoin-native protocol BRC-20 has introduced BRC2.0 to the Bitcoin network, an upgrade that adds EVM compatibility, according to a post on Monday by Ordinals developer Best in Slot.

The BRC2.0 programmable module equips BRC-20 indexers with smart contract execution capabilities, enabling developers to launch smart contracts on the Bitcoin network.

It also extends programmability to Bitcoin-native tokens, making them compatible with other EVM-compatible chains without requiring bridges or other intermediaries.

The BRC2.0 upgrade was made official on Monday, with the EVM-compatibility integrated as of Bitcoin block height 912690, according to data from Block Explorer.

"The aim is to give users the Ethereum experience of composability and programmability, but secured by Bitcoin," said Domo, pseudonymous creator of BRC20, in a press release.

The BRC-20 protocol is a Bitcoin token standard that enables the creation and transfer of tokens on the Bitcoin network. Built on the Ordinals protocol, which assigns unique identifiers to individual satoshis, it allows data to be inscribed and tracked across transactions without relying on smart contracts.

The introduction of new smart contract functionality could spur the development of a decentralized finance (DeFi) ecosystem on the Bitcoin network.

"The holy grail is combining the two gold standards: Bitcoin as the most decentralized and secure network, and the EVM as the most proven virtual machine," Domo added.

BRC20 currently hosts 365,443 Bitcoin-native tokens.

Related news

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

More from Michael Ebiekutan
Share:

Editor's Picks

Ripple and Stellar outlook: XRP and XLM rebound as bearish momentum weakens

Ripple and Stellar outlook: XRP and XLM rebound as bearish momentum weakens

Ripple and Stellar trade higher as both altcoins extend their recovery after defending key support levels earlier this week. XRP is up more than 2% so far this week, while XLM has rebounded after finding support around $0.177. Improving derivatives metrics and fading bearish momentum indicators suggest the recovery could extend in the near term.

Crypto Market Overview: Bitcoin eyes 50-day EMA breakout – Ondo, Ether.fi beat the market

Crypto Market Overview: Bitcoin eyes 50-day EMA breakout – Ondo, Ether.fi beat the market

The broader cryptocurrency market shows early signs of recovery, with Bitcoin testing a breakout above its 50-day Exponential Moving Average around $65,136. Improving risk appetite has investors turning toward DeFi tokens such as Ondo and Ether.fi that emerge as best performers over the last 24 hours.

Bitcoin bottom may be taking shape as selling pressure eases — Glassnode

Bitcoin bottom may be taking shape as selling pressure eases — Glassnode

Bitcoin's recent recovery may mark the early stages of a bottoming process as macroeconomic data continues to boost investor confidence, according to a Glassnode report on Wednesday. Bitcoin outperformed both US and European equities following the US CPI inflation report on Tuesday, recovering strongly after weeks of trading sideways near recent lows.

Ethereum Price Forecast: ETH rises above $1,900 as BitMine sees improved staking revenue

Ethereum Price Forecast: ETH rises above $1,900 as BitMine sees improved staking revenue

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) saw over $45.7 million in staking and validation revenue in the quarter that ended May 31, according to a 10-Q filing with the Securities and Exchange Commission (SEC). That figure represents roughly 98% of the firm's total revenue of $46.5 million, up from $2.05 million over the past year.
Bitcoin: Strategy sells, the market doesn’t care

Bitcoin: Strategy sells, the market doesn’t care

Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.