If you're familiar with cryptocurrency, you've probably heard of Dogecoin - the meme-inspired cryptocurrency that has gained a lot of attention this year. However, you may not have heard of "Doginals" and "DRC-20" tokens, which are also creating buzz in the Dogecoin ecosystem.
Doginals are tokens created by users of Dogecoin who copied the architecture enabled by "Ordinals" - a protocol that allows for Inscriptions on the Bitcoin and Litecoin networks. Essentially, Doginals are tokens built on top of the Dogecoin blockchain using the same technology as DRC-20 tokens.
DRC-20 tokens are similar to ERC-20 tokens on the Ethereum network. They are a standard protocol for creating tokens on the Dogecoin blockchain, and they can be used for a variety of purposes including gaming, loyalty programs, and crowdfunding. However, DRC-20 tokens have also caused concern among some developers due to the potential for network congestion and scalability issues.
Cryptocurrency enthusiasts, if you're interested in Dogecoin, you might have heard of two new buzzwords - Doginals and DRC-20 tokens. In my previous tweet, I introduced these new terms. Now, let's dive into how to deploy, mint, and transfer Doginal or DRC-20 tokens on the Dogecoin network.
To deploy a DRC-20 token, you'll need to use a deploy function. Inscribe the deploy function to your Doginal compatible wallet with desired DRC-20 parameters set. Here's the example of a deploy script:
{
"p": "drc-20",
"op": "deploy",
"tick": "xxxx",
"max": "000000",
"lim": "0"
}
To mint an amount of DRC-20 tokens, you'll need to use a mint function. Inscribe the mint function to your Doginal compatible wallet - make sure the ticker matches your deployed DRC-20 token or any DRC-20 token that has not yet reached its fully diluted supply. Here's the example of a mint script:
{
"p": "drc-20",
"op": "mint",
"tick": "xxxx",
"amt": "00"
}
To transfer an amount of DRC-20 tokens, you'll need to use a transfer function. Inscribe the transfer function to your Doginal compatible wallet. Make sure the transfer function inscription information is valid before inscribing. Here's the example of a transfer script:
{
"p": "drc-20",
"op": "transfer",
"tick": "xxxx",
"amt": "000"
}
It's important to follow these instructions carefully, as there is some skepticism among the community about the long-term presence and usefulness of these tokens in the ecosystem. Nonetheless, Doginals and DRC-20 tokens are contributing to increased activity and innovation in the Dogecoin and Litecoin ecosystems.
#Doginals #DRC20 #Dogecoin #cryptocurrency #innovation.
