The cryptocurrency landscape continues to evolve with Binance, a leading crypto exchange, announcing the integration of BRC-20 assets into its Web3 wallet. This update, applicable to Binance app versions 2.78 and above, marks a significant development for users who can now access these assets directly through the Binance platform.
Binance Expands Web3 Wallet Capabilities
On February 1, Binance revealed that its Web3 wallet will now facilitate BRC-20 assets within the Binance Inscriptions Marketplace. This enhancement allows users to interact with Ethereum Virtual Machine-compatible assets via a web browser, broadening the scope of Binance’s services.
In response to this advancement, Binance has updated its Web3 Wallet guide to include a new Inscriptions Marketplace page. This addition provides comprehensive instructions on managing BRC-20 assets and EVM Inscriptions assets within the Binance Web3 Wallet.
The Binance team has crafted a detailed guide for BRC-20 asset management, complete with visual aids to address user inquiries. The guide covers the essentials of BRC-20, including asset transfers, receipt, and token-based transactions. While the EVM Inscriptions assets guide is less extensive, it still offers a straightforward and refined overview, highlighting the ability for users to mint Inscriptions tokens directly from their Binance Web3 Wallet.
Binance’s support for Inscriptions signifies its recognition of the growing niche in the crypto market. Originating with the Bitcoin Ordinals protocol in January 2023, the Inscriptions phenomenon has gained traction across various networks, including Solana and Avax, and is now expanding within EVM networks. Despite this growth, challenges such as Bitcoin network congestion and increased transaction fees have prompted criticism from some users and investors. These issues led to a temporary pause in block production on the Layer-2 network zksync due to the overwhelming interest in Inscriptions.