Skip to main content

Bitcoin Stamps Approach 50,000 Recorded on Blockchain Alongside Introduction of SRC20 Tokens

Bitcoin Stamps Approach 50,000 Recorded on Blockchain Alongside Introduction of SRC20 Tokens

With nearly nine million Ordinal inscriptions, the trend that followed, called Bitcoin Stamps, is nearing a milestone of nearly 50,000 stamps recorded on the Bitcoin blockchain. Additionally, similar to the BRC20 token economy, the Bitcoin Stamps concept has provided users with the ability to mint fungible tokens with a standard called SRC20.

Bitcoin Stamps Inch Closer to 50,000; SRC20 Tokens Enter the Picture

While there has been significant attention on Ordinal inscriptions and the BRC20 economy, the Bitcoin Stamps trend is still relatively unknown. As of May 23, 2023, there are currently 46,578 Bitcoin Stamps recorded on the BTC blockchain, approaching the 50,000 milestone. The current number of stamps can be viewed at stampchain.io and rarestamp.xyz.

Popular collections include the Pixel Gods, 3GGS, Eternai Rare, Stamp Punks, Stamp Wizards, Stamp Pepes, Stamp Pepes Not, and Classic Arcade. These collections have been available for a considerable period and are sold through rarestamp.xyz’s marketplace. A new concept has recently emerged alongside the Bitcoin Stamps trend, known as SRC20 tokens. Similar to BRC20s, this token concept enables users to mint fungible token supplies using the technology.

“SRC20 is a bleeding edge protocol on Bitcoin Stamps,” the website stampchain.io details. “We’re working hard to build indexing tools and form partnerships with marketplaces. However, it is early. You’re not going to see these tokens in your wallet just yet.”

Rarestamp.xyz offers an SRC20 minting page on its web portal, allowing users to issue a token supply, and assign a ticker symbol. Stampchain.io also offers an SRC20 minting tool. According to statistics, there are currently over 300 SRC20 stamps available today. Some of the SRC20 tokens include coins like “kevin,” “stamp,” “pepe,” “bobo,” “shib,” “punks,” and “rare.”

At this time, there is no available data on the market valuation of the SRC20 token economy, while the BRC20 economy is valued at $447 million. Furthermore, alongside BRC20s and SRC20s, the token standard DRC20 has been developed on the Dogecoin network. Stampchain.io says that a community member built a basic indexer for the coins but it cannot guarantee the accuracy of the tool.

What are your thoughts on the potential impact of Bitcoin Stamps and the emergence of SRC20 tokens on the blockchain? Share your insights and opinions in the comments section below.



from Bitcoin News https://ift.tt/WisVoD5
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more