Binance Unveils Its Inscriptions Marketplace to Rival OKX

Cryptocurrency exchange Binance The platform aims to empower users with the ability to engage in the buying, selling, and minting of inscription tokens through a user-friendly interface integrated within Binance's self-custody wallet. This feature allows for seamless trading of tokens like BRC-20 and EVM.

Moreover, this innovative platform simplifies the minting process for tokens, leading to decreased transaction fees for users.

A Binance representative commented, 'With impressive milestones, such as the BRC-20 token ORDI hitting a $1 billion market cap and over 200 million inscriptions across various blockchain platforms, we believe our entry into this arena is perfectly timed, providing our users with the chance to dive into this dynamic landscape.'

Binance’s The new offering leverages the UniSat API, enhancing the inscriptions marketplace. This integration allows users to tap into UniSat's liquidity, gaining access to a vast array of over 60,000 BRC-20 tokens.

OKX's Inscriptions Marketplace Sets the Benchmark

Binance’s new marketplace aligns with OKX's recent initiatives OKX Earlier this week, the exchange took measures to incorporate inscription standards for Doginals, Atomicals, Stamps, and Runes.

The exchange plans to roll out inscription token standards accessible within its Web3 self-custodial system next month, giving users an opportunity to buy and sell DRC-20, ARC-20, SRC-20, and Runes without transaction fees. This strategic move aims to be 'first-to-market', due to the rising interest in new protocols emerging in the sector. wallet As noted by OKX, the concept of inscriptions has sparked considerable enthusiasm among many of its Asian users, prompting a deeper exploration and development of this feature. They intend to enable users of the OKX Web3 Wallet to hold, view, trade, and securely transact with these tokens.

Currently, the inscriptions tool within the OKX Wallet supports minting across 23 different networks, such as Bitcoin, Dogecoin, Polygon, BNB Chain, Avalanche-C, Arbitrum One, among others.

Binance Aligns with the Growing Trend of Bitcoin Inscriptions Ethereum An inscription connects the most granular unit of Bitcoin with specific data, such as an image for an NFT or other tokens. This process involves a minimal data footprint during transactions. Tokens generated this way on the Bitcoin network are often referred to as inscription tokens, with individual tokens contributing to a wider collection. When transferred to alternative blockchain networks, these token standards acquire unique designations.

Interest in Bitcoin inscriptions has surged over the past year. While a segment of NFT enthusiasts has embraced these new Bitcoin-derived digital assets, there are also criticisms surrounding this emerging technology.

Binance's venture into the inscription sector is consistent with broader industry trends, strategically positioning the exchange to attract more participants and encourage deeper engagement with this ever-evolving landscape. BRC-20 Please remember that the details shared here are not to be taken as legal, tax, investment, or financial advice of any kind. It’s crucial to only invest what you can afford to lose and to seek independent financial guidance if you have any uncertainties. For more information, we recommend reviewing the terms and conditions as well as support resources provided by the issuer or advertiser. MetaversePost is dedicated to responsible and accurate reporting, however, market conditions are subject to change without prior notice.

Alisa, a committed journalist at the Cryptocurrencylistings, specializes in cryptocurrency, zero-knowledge proofs, investments, and the vast Web3 ecosystem. With a sharp focus on emerging technologies and trends, she offers in-depth coverage that informs and engages readers in the rapidly changing world of digital finance. operating as “spam” amid network congestion issues.

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