OKX presents industry's first BRC-30 token standard
OKX presents industry's first BRC-30 token standard
OKX, a major crypto exchange, has unveiled its proposal for a new open-source BRC-30 protocol that will allow BRC-20 tokens and bitcoins to be placed to receive BRC-30 tokens. The protocol is open source and available to all developers.
The OKX Wallet will add support for the BRC-30 standard as per the protocol, allowing users to earn passive income by placing BRC-20 tokens or bitcoins on Web3 Earn without the need for active trading. This complements the existing range of specialized DeFi-earning products already available on the platform.
The launch of BRC-30 and its staking capabilities is driven by OKX's goal to provide users with additional ways to participate in the Bitcoin ecosystem and earn passive income, according to the BlockchainReporter website.
OKX began supporting Bitcoin more than two years ago by integrating the Lightning Network into its centralized exchange. OKX Wallet is also the first multi-network wallet to support BRC-20 trading with the launch of its Ordinals Marketplace, as well as viewing and transferring Bitcoin Ordinals.
We previously reported that cryptocurrency exchange OKX released a Proof of Reserves (PoR) report, stating that the reserve value of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) has reached $10 billion.
OKX launched in 2017 and offers its clients more than 100 cryptocurrencies, several ways to generate passive income, and a large educational base.
