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⚙️ BRC-20 Upgrade Brings EVM Power to Bitcoin Ecosystem

Bitcoin's BRC-20 token system now supports EVMs with BRC2.0.

Developers may install smart contracts directly on Bitcoin with the upgrade.

BRC2.0 may encourage Bitcoin DeFi ecosystem growth.

On Monday, BRC2.0 added Ethereum Virtual Machine (EVM) compatibility to the BRC-20 token system, enabling developers to create smart contracts on Bitcoin (BTC).

Bitcoin network smart contracts are compatible with BRC2.0.
According to Ordinals creator Best in Slot's Monday article, Bitcoin-native protocol BRC-20 has announced BRC2.0, which includes EVM compatibility.

Developers may deploy Bitcoin smart contracts with the BRC2.0 programmable module in BRC-20 indexers.

It makes Bitcoin-native coins programmable and interoperable with other EVM-compatible chains without bridges or middlemen.

According to Block Explorer, BRC2.0 was officially released on Monday with EVM compatibility at Bitcoin block height 912690.

"The aim is to give users the Ethereum experience of composability and programmability, but secured by Bitcoin," stated BRC20 developer Domo in a news statement.

The Bitcoin token standard BRC-20 allows token generation and transfer. Data may be inscribed and tracked between transactions without smart contracts using the Ordinals protocol, which provides unique identities to satoshis.

New smart contract capabilities might launch a Bitcoin decentralized finance (DeFi) ecosystem.

"The holy grail is combining the two gold standards: Bitcoin as the most decentralized and secure network, and the EVM as the most proven virtual machine," he said.

BRC20 has 365,443 Bitcoin-native tokens.

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