Seven Websites to Take You Deeper into ORC-20

The cryptocurrency world constantly evolves, and innovations are always emerging. One recent development is the rise of ORC-20 inscriptions on the Bitcoin blockchain. But what exactly are ORC-20 inscriptions, and why should you care? This article briefly explains ORC-20 inscriptions and provides the resources needed for your research.

What are ORC-20 Tokens?

ORC-20 tokens are a new standard for creating tokens on the Bitcoin blockchain. They aim to improve upon earlier standards like BRC-20 by offering several advantages. One key improvement is enhanced security. ORC-20 leverages the robust Unspent Transaction Output (UTXO) model of Bitcoin, effectively eliminating the risk of double-spending, a potential issue with some BRC-20 tokens.

ORC-20 also boasts greater flexibility. It allows a wider range of data formats to be inscribed within the token. This opens doors for embedding more diverse information, potentially unlocking new functionalities and use cases. Additionally, the ORC-20 standard is built with scalability in mind. It’s designed to handle a larger number of tokens on the Bitcoin network compared to its predecessors.

While ORC-20 is a recent development, and the ecosystem surrounding it is still evolving, it represents a significant leap forward for tokenization on Bitcoin. This new standard can unlock exciting applications and possibilities within the ever-expanding cryptocurrency space.

What You Need To Know About ORC-20 Protocol

The ORC-20 Tokens are a new token standard built to follow the orc-20 protocol. The orc-20 protocol is peculiar because it is an open standard built to fill the gaps in Bitcoin’s previous standard, BRC-20. Not long after its launch, users raised the alarm about a possible risk of double spending apparent in the BRC-20 token standard due to the varying ordinal numbers used by different marketplaces. So, it meant a user could make the same transaction twice without losing coins proportionately.

In a bid to fix this issue and others like restricted naming space, adaptability, and security, the ORC-20 token standard. The ORC-20 token standard is based on Bitcoin’s UTXO model to prevent double-spending and features other advancements like flexible naming space. A major feature of the ORC-20 model is that it is built to be compatible with bRC-20 so users can migrate their BRC-20 assets to the ORC-20 standard or deploy new ORC-20 tokens.

Seven Websites to Take You Deeper Into ORC-20 Inscriptions

The world of ORC-20 token standards is robust, with technical jargon and confusing terms. Here are seven websites to take you deeper into the ORC-20 token standard:

1. ORC-20 Guide

Created by the ORC-20 community, this website is a gitbook doc on all things ORC-20 inscriptions. It is the most extensive resource on ORC-20 inscriptions, and it is important to go through the entire website before attempting to inscribe any ORC-20 tokens. Here are some important pages on the ORC-20 Docs site:

Quick Start

This page provides a quick overview of ORC-20 events: deploy, mint, send, and cancel events.

Migration

This page shows how to migrate BRC-20 tokens to ORC-20 tokens.

ORC-20 Domain Names

This page briefly overviews how to deploy, register, and bind ORC-20-based domain names.

2. UniSat

Like MetaMask, UniSat Wallet is a Chrome extension wallet catering to the Bitcoin (BTC) ecosystem. It allows users to manage their BTC holdings, including buying, selling, and transferring. Additionally, the wallet facilitates Ordinal inscription, ordinal searches, and a marketplace with ARC-20 and BRC-20 tokens.

Ordinal Inscription

This page manages ORC-20 token inscriptions. To inscribe a new ordinal with the ORC-20 standard, visit the unisat website, connect your wallet, and select text as the inscription type.

3. Mempool

Mempool is an available tool to query the status of transactions executed on the Bitcoin network. Once you’ve processed an inscription transaction using Unisat, you can view the minting status of your transaction by copying the TX and searching on the mempool website.

4. Dune

Dune is a data tool that collects and collates data on crypto-related events. Specific to Bitcoin ordinals, Dune collates data on all ORC-20 transactions, reporting and displaying the changes in status in real-time. On the Dune site, you can see the number of ORC-20 tokens deployed, the total minting transaction fee, as well as how many have been traded. You can also see how many ORC-20 inscriptions have been transferred.

5. JSON

The ORC-20 token standard uses the JSON (JavaScript Object Notation) framework. This means that all ORC-20 tokens appear as JSON files inscribed on Bitcoin satoshis, each with its unique ordinal serial number. The JSON website provides a comprehensive tutorial on JSON (JavaScript Object Notation), focusing on its basics, syntax, data types, and how it’s used in data interchange between clients and servers.

It’s designed for beginners, offering a straightforward approach to understanding and implementing JSON in various programming environments. The site also features tools for validating and formatting JSON data, making it a practical resource for developers looking to work efficiently with JSON.

6. LoveOrds Token List

LoveOrds is a comprehensive resource dedicated to ORC-20. Their website features a comprehensive list of ORC-20 tokens, allowing you to explore the diverse projects and applications built on this standard. LoveOrds also provides tools and information for developers interested in creating or interacting with ORC-20 tokens. Additionally, they maintain a presence on social media, keeping the community updated on the latest developments within the ORC-20 ecosystem.

7. BitPunk’s Inscription Explorer

This website by BitPunk functions as a dedicated search engine for Ordinal inscriptions, including those created using the ORC-20 standard. You can use BitPunk’s Inscription Explorer to browse ORC-20 inscriptions by inscription number, explore trending inscriptions, and view detailed information about specific inscriptions. This information can include the inscription’s data payload, transaction history, and associated artwork (if applicable).

Bonus Youtube Resource: ORC20 Made Simple - Is it Better Than BRC20? (How to Mint)

This video concerns ORC20, a new standard for ordinal tokens on the Bitcoin Network. The creator compares ORC20 to BRC20, another standard for ordinal tokens. ORC20 has several advantages over BRC20, including built-in anti-double spending, improved scalability, and more flexible naming conventions. However, the creator believes that BRC20 is still the more popular option.

The video also includes a guide on how to mint ORC20 tokens and how to check if there are any tokens still available to mint. Minting ORC20 tokens requires using a Uniswap wallet. The creator cautions viewers that there is no marketplace to sell ORC20 tokens at this time, so users will need to hold onto their tokens and hope that the value increases in the future.