Binance has integrated Bitcoin ARC-20 atomical assets into its Web3 wallet through its Inscriptions Marketplace.
The ARC-20 token standard enables the creation of fungible tokens that can be easily held and transferred on the Bitcoin blockchain.
To celebrate this integration, Binance is offering zero-fee trading on ARC-20 tokens until June 2, 2024. The Atomicals protocol, invented in January and inspired by Ethereum’s ERC-20 standard, allows for the creation, transfer, and updating of non-fungible tokens (NFTs) on the Bitcoin blockchain.
These tokens have a low data footprint, meaning that even with multiple updates or transfers, they only require a small amount of data to be processed by clients, wallets, or other services.
Aside from NFTs, the use cases for Bitcoin Atomicals currently include web hosting, file storage, atomic swaps, real-world asset tokenization, decentralized social media, and more.
Binance Wallet’s update also includes support for BEVM, a decentralized Ethereum Virtual Machine-compatible Bitcoin layer 2 platform that uses Bitcoin as gas fees for executing smart contracts.
