Quick Take
OKX takes the lead in the Web3 space with support for new inscription token standards: Atomicals (ARC-20), Stamps (SRC-20), Bitcoin Runes, and Doginals (DRC-20). These standards offer unique features and will be integrated into OKX’s Web3 Wallet and Marketplace, providing zero-fee trading options for millions of users. OKX’s advanced inscription tools aim to drive the widespread adoption of inscription technology across major blockchains.
OKX introduces support for Atomicals (ARC-20), Stamps (SRC-20), Bitcoin Runes, and Dogecoin’s Doginals (DRC-20)
OKX has announced its support for four new inscription token standards on its platform. This development solidifies OKX’s position as the frontrunner in the rapidly evolving world of inscription technology within the Web3 ecosystem.
The four newly introduced token standards are Atomicals (ARC-20), Stamps (SRC-20), Bitcoin Runes, and Dogecoin’s Doginals (DRC-20). These standards will be integrated into OKX’s Web3 Wallet, with DRC-20, ARC-20, and Runes also being made available on the OKX Marketplace in the coming weeks. These strategic integrations are set to establish OKX as the go-to destination for all inscription-related activities in the Web3 space.
Jason Lau, OKX’s Chief Innovation Officer, emphasized the company’s commitment to driving mainstream adoption of cutting-edge Web3 technologies. He stated, “By empowering users to easily buy, sell, create, and trade leading token standards on one platform with zero trading fees, OKX is simplifying access and removing barriers so users can explore and realize the potential of inscriptions.“
A Closer Look at the Newly Added Inscription Standards
Atomicals (ARC-20): ARC-20 introduces a groundbreaking fungible token standard to the Bitcoin blockchain. It uniquely utilizes satoshis, the smallest units of Bitcoin, as the foundation for token representation. This innovation ensures that every ARC-20 token inherently carries the backing of a satoshi, providing a baseline value and seamless integration with Bitcoin infrastructure.
Stamps (SRC-20): SRC-20 tokens, often dubbed as “Bitcoin’s nonfungible tokens (NFTs),” play a pivotal role in the secure and tradable art world. They enable the embedding of data within Bitcoin transactions, much like the BRC-20 standard. However, Stamps brings its own unique approach, drawing inspiration from Counterparty and colored coins, making it a noteworthy addition to the inscription landscape.
Bitcoin Runes: Bitcoin Runes represents a simpler alternative to the experimental BRC-20 standard. It gained rapid popularity for its efficiency, reaching a remarkable $1 billion market cap within just three months. Runes are fungible tokens issued directly on the Bitcoin blockchain, and they promise a more straightforward approach to handling fungible tokens on this platform.
Doginals (DRC-20): Doginals, tagged as DRC-20 tokens, are fragments of Dogecoin that carry rich data such as text or images. The Doginals protocol allows for the unique tagging of Dogecoin’s “Shibes,” creating valuable, distinct assets. The term “Shibe” mirrors Bitcoin’s “Satoshi” or “Sat,” and the protocol numbers Shibes, providing each with a unique ID and tracking through transactions.
OKX’s Integration Roadmap and Advanced Features
OKX has a comprehensive integration plan for these new token standards. SRC-20 integration begins on February 5th, followed by ARC-20, DRC-20, and Runes later in February. OKX Marketplace will also incorporate these standards during the same period, offering millions of users the opportunity to engage in zero-fee trading for these inscription standards, thereby enhancing accessibility and liquidity.
Additionally, OKX’s inscription offering stands out with advanced features, including hex error checking, support for multiple inscription standards, bulk inscription capabilities, and automatic error detection. These tools empower users across various blockchains, facilitating the adoption and growth of Web3 technologies. Jason Lau, OKX’s Chief Innovation Officer, emphasizes OKX’s commitment to simplifying access to inscriptions and removing barriers for users, making it easier for them to explore and harness the potential of these technologies.
Overall, OKX’s announcement signifies its leadership in the Web3 inscription ecosystem. By introducing the 4 new token standards and a comprehensive integration plan, OKX aims to drive the adoption and evolution of inscription technologies across major blockchains.
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