BRC 2.0 Upgrade Sparks New Wave in Bitcoin Ecosystem

Recently, as the BRC 2.0 upgrade approaches, related assets have triggered a wealth effect, and the market is once again focused on the Bitcoin ecosystem. In the past month, the transaction price of the leading NFT project Adderrels in the BRC 2.0 series has skyrocketed from around 15 dollars to about 2300 dollars, achieving an investment return of over 100 times.

This article will briefly introduce the BRC 2.0 upgrade and review the conceptual assets and their gameplay available in the market.

Overview of BRC 2.0 Upgrade

BRC 2.0 is an upgrade to the BRC 20 protocol, aimed at enabling EVM-compatible smart contract capabilities for all BRC 20 tokens to support advanced financial applications. This upgrade has received broad support from the BRC 20 ecosystem, including the Layer 1 Foundation and several wallets.

The BRC 2.0 implementation can be classified as an off-chain processing solution in a programmable manner. The EVM executor is integrated with the BRC 20 indexer, and the final state update is completed by the BRC 20 indexer on the Bitcoin chain. Additionally, the development team plans to create a gas-free application chain for BTCFi to eliminate the latency and fee barriers of the Bitcoin mainnet.

In addition to programmability, BRC 2.0 also introduces the "Ordinal Locker" feature, enhancing the interoperability between BRC 20 and Ordinals. This feature utilizes Bitcoin's time-lock mechanism, allowing users to lock Ordinals assets, unlocking various gameplay options for BRC 20.

BRC 2.0 Upgrade Roadmap

The BRC 2.0 upgrade is divided into two phases:

1. First phase (around August 14): Activate 6-character BRC 20 tokens and launch the launchpad.
2. Second phase (around September 17): Convert all BRC 20 tokens into programmable assets.

Pre-BRC 2.0 Concept Asset Inventory

Although the BRC 2.0 upgrade has not yet arrived, the market has begun to hype Pre-BRC 2.0 conceptual assets. Here are a few popular projects:

1. Adderrels: The first BRC 2.0 concept NFT, with a total supply of 3420, currently with a floor price of about 1600 dollars.

2. LIQUID: Claims to be the first Pre-BRC 2.0 token minted on Ordinals, with a total of 50,000 NFTs, each representing 1,000 LiQUID tokens.

3. Early Birds: Claiming to be the first BRC 2.0 series NFT with staking functionality, with a total of 5000 pieces, each corresponding to 1000 birdie tokens.

4. buttmullets: An NFT project closely related to Adderrels, with a total of 3333 pieces.

5. Griftmo: Total supply of 3888 coins, no details yet on the token airdrop opportunities related to BRC 2.0.

Currently, the Pre-BRC 2.0 concept assets are a mixed bag, and investors should participate with caution.