Cy[bord] CBRC-20 is the proposal of an efficient Metaprotocol standard for fungible tokens on Bitcoin through Ordinals. By utilizing the new metadata and metaprotocol fields introduced in ord 0.10+, which allow for arbitrary properties to be stored directly within the Inscription envelope, CBRC-20 keeps the same functional logic of the BRC-20 Metaprotocol while reducing the cost of each inscription and simplifying the indexing process.
Overview of CBRC-20 Features
Reduced Inscription Costs: CBRC-20 lowers the cost per inscription for token deploy, mint, and transfer operations compared to BRC-20/TAP.
Simplified Indexing: CBRC-20 provides a simple way to index the CBRC-20 Metaprotocol state due to all information being directly available in the envelope of each Inscription.
Flexibility with MIME Types: The CBRC-20 standard allows for any MIME type to be used for deploying, minting, or transferring CBRC-20 tokens.
Deploying, minting, or transferring any CBRC-20 token can be done by simply inscribing the number "0" as a text file, reducing the inscription cost by 10 times compared to other Metaprotocol Ordinal Token Standards.
Deploying a CBRC-20 token and allowing users to "mint" as part of a PFP collection, with a specific number of tokens minted on each image. These tokens can then be transferred like any other CBRC-20 token (on a new transfer inscription), without sending the image the tokens were minted on.
The potential applications are endless and unexplored!
No Limitations of Ord 0.9: Unlike previous standards, CBRC-20 is not constrained by the "freeze" of Ordinals version 0.9 and can utilize the latest features of the ord client.