Stake $bsat (BRC20) to earn $wSats (BRC20-S)
BRC20-S is a simplified version of the BRC20 token standard. It is designed to be easier to use and more accessible for developers and users, while still maintaining the key features of the original BRC20 standard.
With the introduction of BRC20-S, users can now stake their own BRC-20 tokens or bitcoin and receive BRC20-S tokens in return. BRC20-S tokens are an extension of the functionality of BRC-20 tokens, with an added description of the staking protocol. In this way, BRC-20 token holders can be rewarded for putting their digital assets to work, demonstrating their commitment to the community, and participating in the Bitcoin network.
BRC20-S protocol is open-source and available for all developers to build upon.
❖ Issuing their own BRC20-S tokens by creating a staking pool, gaining seed users
❖ Staking BTC earns other BRC20-S like abcd (newly issued BRC20-S token)
❖ Staking BRC-20 tokens earns other BRC20-S like abcd (newly issued BRC20-S token)
In general, while Ordinals provide the underlying technology for inscribing data onto the Bitcoin blockchain, BRC20 and BRC20-S provide the rules for creating and managing tokens using this technology.
Ordinals is a protocol that enables the inscription of unique data on individual satoshis, the smallest unit of Bitcoin. This unique data can represent various entities, including tokens. This is where BRC20 and BRC20-S come into play.
BRC20 is a token standard for the Bitcoin blockchain, akin to the ERC20 standard on Ethereum. It provides a set of rules for creating and managing tokens on the Bitcoin blockchain. In contrast, BRC20-S is a simplified version of the BRC20 standard. It retains the key functionalities of BRC20 but offers a more streamlined set of functionalities. This makes the standard more accessible and easier to use for developers and users.
Due to the configuration of OKX Wallet rules, you may not be able to see the tokens you've claimed.
Instead, you can manually configure it via "Wallet -> Crypto -> Manage crypto -> Select BTC network and add ID".
wSats ID: 4ba8a58eab
