OGBRC20 Overview

OGBRC20, the first UTXO compatible token standard on bitcoin, being as old as BRC20. We consider part of OGBRC20 all the VALID mint inscriptions "wasted" by the BRC20 protocol

OGBRC20 was just bound to exist. See It more like a way of classificating BRC20 mint inscriptions more than a metaprotocol. People already value the BRC20 mints same as the emulated state of BRC20, as they hold significant historical value and there was some minor trading already.

OGBRC20 does not improve nor detriment BRC20 as It is 100% compatible with BRC20 and has no collisions. However, one could argue OGBRC20 fits more into the UTXO model of bitcoin than BRC20 Itself. Let's use meme, the second BRC20 ever as example, where the mints are all 1 meme value. Inscriptions can be fused and split easily such as regular bitcoin and runes can do. In the following example, Bob have 3 meme mint inscriptions on separate UTXOs equals 1 meme each, and wishes to send 3 meme to Alice. Bob will use the three mint inscriptions as the first three inputs of the transaction, the fourth (if not enough postage) being used to pay for the transaction fees. As for the outputs, he will set an output of postageA+postageB+postageC (not neccesarly, but lets keep things simple for now) to Alice address and return the change to Bob change address. This will result on Alice receiving a single 3 meme UTXO. There is no requirement of bloating the chain with a transfer inscription. Bob does this just by typing on his wallet how much MEME he wishes to send and by signing the transaction.

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Downsides