The Bitcoin ecosystem continues to grab the attention of users lately. Accordingly, BRC-20 tokens gained significant momentum shortly after being introduced to the market in January, with their market value surpassing 4 billion dollars. According to a research report dated December 15 by the cryptocurrency exchange Bitget, the earnings of Bitcoin miners from on-chain fees increased from 1.7% in August to 19.57% in November.

The BRC-20 Token Wave in the Bitcoin Ecosystem

With all these developments, the daily mining revenue from block rewards exceeded 40 million dollars in November. During this period, Bitcoin gained 161% in value since the beginning of the year. BRC-20 tokens, introduced to the market in January by Bitcoin developer Casey Rodarmor, continue to increase their popularity as one of the most significant technological advancements in a 15-year-old blockchain ecosystem.

Bitcoin Ordinals appear as a numbering system that enables tracking and transfer by assigning a unique code to every satoshi, or one hundred millionth of a Bitcoin. With the coding process that adds a data layer to each Satoshi, users can create unique crypto assets within the Bitcoin blockchain ecosystem.

New Rival to the Ordinals Protocol

The first memecoin created through the BRC-20 standard, which is not related to the Ordinals protocol, the Ordinals (ORDI) token, now has a market value of 1.34 billion dollars. Along with these developments, researchers have declared that other Bitcoin token standards like ARC-20 from Atomicals Protocol also add value to the Bitcoin ecosystem:

“Unlike Ordinals, which relies on third-party sequencers to order asset transactions, the ARC-20 standard of the Atomicals protocol uses Bitcoin’s smallest unit, the Satoshi, as the smallest unit for the issuance of assets. This step allows Atomicals assets to track a complete transfer history without depending on any third-party sequencer.”

Currently, the Atomicals Protocol includes ARC-20 tokens and NFT collections, known as realms, which are Bitcoin domain names and Collection Containers that involve data storage on the blockchain. As of December 15, there are a total of 366,879 minting transactions in the Atomicals Protocol, with a cumulative cost of 2.4 million dollars worth 55.8 Bitcoin. The total number of mints in this protocol makes up 2.69% of the total mint transactions found on Ordinals.