News

OKX & UniSat unite to create BRC-20 industry standard

Published

2 years ago

May 13, 2023

The cryptocurrency exchange OKX, and UniSat Wallet, a leading digital wallet provider, have announced their partnership to collaborate on the development of the BRC-20 industry standard.

This strategic alliance aims to enhance the efficiency, security, and interoperability of blockchain-based projects, revolutionizing the tokenization process within the cryptocurrency ecosystem.

With presence all over the world, and it has millions of users, OKX is well-known for its competence in crypto exchange services and trading solutions. As a result of this agreement, OKX hopes to contribute extensive industry knowledge and experience.

UniSat Wallet is a provider of digital wallets and an Open Source Chrome extension for Bitcoin Ordinals & BRC-20, and it makes available an extensive selection of wallet solutions that put an emphasis on both the user experience and data protection.

UniSat Wallet contributes essential insights and knowledge to the partnership by concentrating on streamlining and securing digital asset management. This helps to ensure that the BRC-20 standard is developed with the convenience and security of users in mind during the design process.

The BRC-20 standard is a protocol that was built for the Bitcoin blockchain and was inspired by Ethereum’s ERC-20. It is similar to the ERC-20 standard on the Ethereum network used for creating fungible tokens.

The Ordinals protocol, which enables the numbering and tracking of individual Satoshis, is used to issue and transfer these tokens.

OKX and UniSat Wallet plan to use this partnership to expedite the development and implementation of the BRC-20 standard, which will in turn drive the advancement of tokenization across the cryptocurrency industry.