Will ASC-20 ecosystem tokens surpass BRC-20?

[Altcoiner007]

Agreably, blockchain technology can be applied to a wide range of sectors and use cases, including social media and gaming as well as financial services and supply chain management, its enormous potential is becoming clearer. Considering Blockchain app development, that aspect seem to be fast exploding, with innovation through the use of Bitcoin Ordinals. Meanwhile, a close check made me realize a striking resemblance in use and functionalities between Brc-20 of ordinal protocol and ASC-20 (abbreviation for Avalanche Standard Contract-20).

If you all have been following, you already know how much the likes of ORD, PEPE, SATS, RATS and other BRC-20 tokens have been printing and I'm wondering if ASC-20 tokens like AVAV will follow suite. Please share your thoughts.

[xeqoRameshAxueamExaqana]

ASC 20 user coin community or developers are certainly more than BRC 20. and its main coin avalance is mean avax still above brc. about price or marketcap in coinmarketcap AVAX still above brc. so ASC 20 is better than BRC20.

[Tipstar]

I had used Avalanche network in past and had a booming ecosystem. But now there are hardly any new dapps and the multichain dapps are too leaving avalanche citing low volume. The transaction fees on Avalanche has increased so much that it's now costlier than a much larger BSC network.
https://coincu.com/238022-avalanche-network-gas-charges-exceed-4/

When Avalanche is not being to compete with the older ecosystem it planned to replace like BSC, I don't see it being able to compete with the new ecosystem utility coins like Solana and Ton, which still being newer are already much popular, has larger volume and less fees.

[redwine49]

I don't know why you comparing BRC-20 and ASC-20. why not ERC-20 with ASC-20 instead.
I know a little thing about ASC-20 but i think i know ERC-20 and then BEP-20.
ASC-20 has not much user some of them AVAV and DINO but BRC-20 is alot even that is new.
What i am thinking about why is Avax in the top 10 marketcap? i don't understand maybe someone here can explain better than me

[2Pizza410000BTC]

ASC-20(Avalanche Standard Contract-20) is very old but I can't give good feedback about this platform. BRC 20 (Bitcoin Ordinals) is new and people are a bit more attracted to it and it has created a good reaction in the market. I can't make the difference between ASC 20 and BRC 20 that's why I'm not making any comment about it. But I have bought and held the ORDI of the BRC20 platform.

[icalical]

I believe and I hope I am right, BRC-20 is just a short time hype, there are so many other platform to develop Ordinals, I think everyone should leave Bitcoin Blockchain only for Bitcoin transaction, do ordinals in somewhere else. As far as I know, Avalanche is a good blockchain, they just need more promotion to attract developer to create more with Avalanche. I actually don't know much about ASC-20 but I wish people move from BRC-20 to ASC-20.

[batang_bitcoin]

IMO, there is nothing new. Every chain that has their own mainnet and smart contracts will do the same as what Ethereum and the rest have done and even with BRC20.
We're just going to see repetitive projects that supports each of their own sub-projects that have chosen under them. If it's about surpassing, I don't even think that any other project has surpassed ERC20.

[d5000]

I don't know why you comparing BRC-20 and ASC-20. why not ERC-20 with ASC-20 instead.

This. ERC-20 and ASC-20 are actually much more similar as they're a kind of smart contract written in a turing complete language. That means basically, that "loops" are possible -- a contract can wait for an event coming from another contract and react to it, so an ERC-20/ASC-20 token issuer can react in a variety of ways to user behavior or related events. (That's actually not always good - ERC-20 [and ASC-20 probably too] tokens can be frozen from their issuers, for example, like stablecoin issuers do regularly.)

All this is not possible with BRC-20. BRC-20 is just a very rudimentary token platform with absolutely none of these possibilities. Basically everything you can do with BRC-20 is to speculate on its value. It's less capable than the very first generation of coloured coins and tokens that came out in ~2013/14 (Omni, EPOBC, NXT ...).

[bluebit25]

Like many of the hypes that have appeared in this space, they are meaningless but create value to pump/dump and people can apply to profit/loss.

I find it funny that comparing these things to each other, I first see the BRC20 appearing as a redundancy, because that is not the direction bitcoin needs to go. But hype and FOMO still cause many people to mistakenly believe in opportunistic trends, looking at the process after they have little applicability. As for the altcoin story, there is no escaping the FOMO situation that users and developers themselves enjoy together.

[merekamo]

Agreably, blockchain technology can be applied to a wide range of sectors and use cases, including social media and gaming as well as financial services and supply chain management, its enormous potential is becoming clearer. Considering Blockchain app development, that aspect seem to be fast exploding, with innovation through the use of Bitcoin Ordinals. Meanwhile, a close check made me realize a striking resemblance in use and functionalities between Brc-20 of ordinal protocol and ASC-20 (abbreviation for Avalanche Standard Contract-20).

If you all have been following, you already know how much the likes of ORD, PEPE, SATS, RATS and other BRC-20 tokens have been printing and I'm wondering if ASC-20 tokens like AVAV will follow suite. Please share your thoughts.

Yep, it's precisely what you said. one can’t help but notice how closely related BRC-20 from Ordinal Protocol and ASC-20 (Avalanche Standard Contract-20) seem to be. For me, ORD, PEPE, SATS, RATS, and the rest of BRC-20 raking in some serious because I'am once hold and sell it. If you say can ASC-20 tokens like AVAV will follow their lead? I don't thing so because every token has its own quirks, and market is unpredictable, and I think there is no way of knowing for sure.

[Altcoiner007]

ASC 20 user coin community or developers are certainly more than BRC 20. and its main coin avalance is mean avax still above brc. about price or marketcap in coinmarketcap AVAX still above brc. so ASC 20 is better than BRC20.

Well, but did you noticed the spiking performance of BRC-20 tokens like I mentioned above? And I must say that investors are easily drawn to investing in such tokens with the expectations that within a short term they'll make much more profit. Can I consider that for ASC 20 token like AVAV? I think that puts it better.

I believe and I hope I am right, BRC-20 is just a short time hype, there are so many other platform to develop Ordinals, I think everyone should leave Bitcoin Blockchain only for Bitcoin transaction, do ordinals in somewhere else. As far as I know, Avalanche is a good blockchain, they just need more promotion to attract developer to create more with Avalanche. I actually don't know much about ASC-20 but I wish people move from BRC-20 to ASC-20.

 Right! I found AVAV scheduled to be listed on Bitget, that's where my curiosity sprang from. Developers can deploy own inscribing services, build wallet applications, develop browsers , and much more using the API. I mean Avascriptions which is the Gateway to #ASC20 Token Inscribing and Trading. like as it relates with Ordinal protocols, Avascriptions Developer Service  is open to community developers, allowing them to explore the world of Bitcoin and ordinals. Don't you think a project as these is worth looking closely at?

I don't know why you comparing BRC-20 and ASC-20. why not ERC-20 with ASC-20 instead.

This. ERC-20 and ASC-20 are actually much more similar as they're a kind of smart contract written in a turing complete language. That means basically, that "loops" are possible -- a contract can wait for an event coming from another contract and react to it, so an ERC-20/ASC-20 token issuer can react in a variety of ways to user behavior or related events. (That's actually not always good - ERC-20 [and ASC-20 probably too] tokens can be frozen from their issuers, for example, like stablecoin issuers do regularly.)

All this is not possible with BRC-20. BRC-20 is just a very rudimentary token platform with absolutely none of these possibilities. Basically everything you can do with BRC-20 is to speculate on its value. It's less capable than the very first generation of coloured coins and tokens that came out in ~2013/14 (Omni, EPOBC, NXT ...).

So speculating the value the right direction becomes now the burden of those who are in for the profit while some are bothering about the technology and all it's possibilities. But what do you think about accumulating some ASC-20 tokens as everyone anticipates the bull market?

[moderator's note: consecutive posts merged]

[JeromeTash]

If you were there in the era of ICOs you will realize that all this rebranding is actually meaningless. It's just hype that eventually dies out after enough people have been scammed into buying these tokens. Most of them completely have no use case at all.

They are just vehicles created to make the creators or developers richer, while the poor hopefuls through FOMO lose more of their tangible assets to buy these tokens, thinking they will also become millionaires.

[o48o]

I don't know why you comparing BRC-20 and ASC-20. why not ERC-20 with ASC-20 instead.
I know a little thing about ASC-20 but i think i know ERC-20 and then BEP-20.
ASC-20 has not much user some of them AVAV and DINO but BRC-20 is alot even that is new.
What i am thinking about why is Avax in the top 10 marketcap? i don't understand maybe someone here can explain better than me

Most likely because BEP-20 is more realistic competitor, even though it doesn't seem realistic. To put things in perspective BSC has $4.18B   TVL and AVAX $1.14B   , Even SOL has twice of AVAX and they are far away. Reason why they aren't near ERC20 is the fact ETH has $67.66B TVL, and that's just layer 1. So this is just normal delusion from op. I know the feeling when someone wants their bags to moon. Then they want to compare it to top altervative. Thing is. There's most likely not going to be second ETH. Even wanting to be that is a bad starting point. They should want to be first AVAX, and that there will be other coins wanting to be next avax. That's should be their goal.

[d5000]

So speculating the value the right direction becomes now the burden of those who are in for the profit while some are bothering about the technology and all it's possibilities. But what do you think about accumulating some ASC-20 tokens as everyone anticipates the bull market?

I think both have two very different use cases.

BRC-20 is all about accumulating some tokens with a "well-sounding" name (or discover an unused, interesting sounding 4-character combination yourself) and then ride the wave. Use cases are non-existant in most cases. I could imagine some as game currencies though.

In the case of ASC-20, I interpret the value proposition of the tokens is more similar to tokens in the ERC-20 ecosystem: they depend heavily on tokenomics and use case, e.g. for DeFi dApps.
So I don't know if accumulating current ASC-20 tokens makes sense - it depends if an interesting project is behind it, which uses the smart contract technology in novel ways, or could replace Ethereum dApps with lower fees. (Avalanche fees aren't that low though, unfortunately.)