Among the BRC-20 promotion, Avalanche articles attract the interest of the user

Following the successful launch of Bitcoin Ordinals and Engraved Tokens (BRC-20), inscriptions on the Avalanche blockchain or ASC-20 tokens have also attracted investor interest.

On January 15, the Chinese-language Twitter space for cryptocurrency exchange Bitget on Avalanche inscription token Avascriptions (AVAV) attracted more than 585,000 followers. During the session, the chief operating officer of the AVAV project Ori said that the project's roadmap follows the same path as the development of BRC-20 assets, and pointed out that the total number of records recorded on the Avalanche blockchain has reached more than 100 million. From June 2023.

According to analysts at cryptocurrency exchange Gate.io, the ASC-20 protocol allows users to create, deploy, trade and hold custom tokens for their projects “creating a wide range of assets, from loyalty points and stall coins to shared ownership of real-world assets.” Unlike BRC-20, ASC-20 tokens are created in JSON writing format for lower transaction fees and contain a mechanism for returning unsettled funds to users if there are no miners to process transactions. Analysts commented:

“In the first month since the launch of the Inscription Token on Avalanche, trading activity and volume have increased rapidly, increasing 2,000% in less than a week.

Increasing user demand has attracted the attention of bad faith actors. Last month, the developers of AVAV warned of a pending list of fake tokens on cryptocurrency exchange MEXC that “mimicking the Avascription platform” implemented on the BNB Smart Chain and “where one of the addresses holds more than 99% of the tokens.” The notification prompted an apology from MEXC, which has since deleted the listing.

“This was an error in our project review process, and we sincerely apologize for the inconvenience caused to the AVAV project team and community users.”

The Bitcoin Ordinals and its inscriptions have been widely popular since their invention last March, when the Ordinals token (which is not connected to its own protocol) was published, the market capitalization exceeded 1.5 billion dollars. Cointelegraph previously reported that the developers of the Bitcoin side-chain MicroVisionChain (MVC) have unveiled the BRC-20 decentralized exchange (DEX) as part of their roadmap for Q1 2024.

We noticed that @MEXC_Official recently announced a token listing called $AVAV1. We want to clarify that this is not the popular $AVAV script on the AVAX-C public chain. Actually, $AVAV1 is an imitation of the Avascriptions platform,… pic.twitter.com/FDQxDXRBG7

— Avascripts (@Avascriptions) December 23, 2023

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