OKX Unveils Game-Changing BRC-30 Upgrade!
OKX exchange proposes a BRC-30 upgrade to the BRC-20 Bitcoin standard, introducing staking capabilities to the Bitcoin network for the first time, amid debates over the scope of Bitcoin's use.
The OKX exchange has suggested enhancing the BRC-20Bitcoin standard with a new mechanism dubbed BRC-30. This amendment will introduce staking features to the Bitcoin network, including staking pools and rewards.
The primary aim of BRC-30, according to OKX, is to broaden Bitcoin's capabilities with staking features, providing extra interaction avenues for the community. The staking mechanism will offer a "new dimension" to the Bitcoin network, rewarding BTC and BRC-20 token holders for their participation.
A crucial component of this system is a staking pool and managing "server," ensuring accurate staking returns. The "project party" sets staking pool properties such as the mining rate and total mining rewards, while users finalize the process via deposits, minting, and transfers to their wallets.
OKX indicated that the "server" operation would be open-source and invited developers for collaboration.
The BRC-20 standard, initiated in March by anonymous developer "Domo", utilized changes post the Bitcoin Taproot upgrade, enabling inscription of each satoshi in a Bitcoin with additional metadata. However, debates have ensued, with purists insisting Bitcoin should strictly serve monetary transactions, while proponents argue for the flexible usage of the open Bitcoin network.
