Developers of Bitcoin side-chain MicroVisionChain (MVC) have unveiled a BRC-20 decentralized exchange (DEX) as part of its roadmap for Q1 2024.
In an interview with Cointelegraph, MVC chief operating officer Jason Kwok claims to have developed a “1:1 mapping relationship” with Bitcoin on its sidechain. “This essentially creates a parallel version of your Bitcoin assets, such as BRC-20, on MVC,” said Kwok, explaining that the bridge allows users to swap BRC-20 token assets on the MVC sidechain, thus bypassing the high transaction and gas fees required to deploy decentralized applications (DApps) on the Bitcoin mainnet.
“MVC shares the same underlying architecture as Bitcoin, which means the same mnemonic phrases and receiving addresses can be used across both. This significantly reduces the learning curve and enhances user-friendliness.”
In keeping with the spirit of Bitcoin’s creator, Satoshi Nakamoto, Kwok explains that MVC has no particular founders or corporate headquarters. Instead, the sidechain is a “collaborative endeavor” involving many development teams that form the Bitcoin ecosystem.
Invented by Web3 developer Rodarmor in January, BRC-20 tokens have surged in popularity as one of the largest technological advancements in a…
