Study: SRC20 Protocol’s ‘Unmatched Data Permanence’ Makes It a Superior Choice Over BRC20 and Runes
To date, not a single token has been burned, lost, or erased within the SRC20 ecosystem, unlike other protocols that have experienced such losses
Although it may be undervalued at present, the SRC20 protocol distinguishes itself among protocols operating on the Bitcoin network due to its unmatched data permanence, according to a new report. The study also found that the protocol's impending cost-reduction upgrade renders it an attractive option for long-term projects and investments.
SRC20's Unmatched Data Permanence
According to a study conducted by the consultancy firm Universelle, the SRC20 protocol stands out among other protocols running on the Bitcoin network due to its "unmatched data permanence." The report adds that the protocol's upcoming cost-reduction upgrade makes SRC20 a compelling choice for long-term projects and investments.
Regarding the user-friendliness of protocols on the Bitcoin network, the Universelle study claimed that the SRC20 protocol outperformed Runes and BRC20 because it does not require transfer inscriptions or splitting UTXOs. Concerning wallet support, the report noted that while both BRC20 and Runes have a higher level of infrastructure and wallet support, the SRC20 protocol is rapidly catching up.
In terms of funding, SRC20-based projects have attracted between $5 million and $10 million in venture capital investment. This is slightly lower than the $20 million attracted by BRC20. However, the Universelle analysis asserts that capital flowing into SRC20 tokens will only increase with greater acceptance and adoption.
SRC20 Records Zero Burns, No Losses
The Universelle report also identifies influencer and community support as other factors that will drive adoption and maintain SRC20's relevance in the competitive crypto space. Commenting on the consultancy firm's findings, Angel Haro, co-founder of Universelle, pointed to SRC20's zero losses as evidence of the protocol's resilience.
"Having developed within the ordinals and EVM ecosystems, we recognized the potential of the SRC20 protocol for its greater permanence. To date, not a single token has been burned, lost, or erased within the SRC20 ecosystem, unlike other protocols that have experienced such losses," Haro stated.
The co-founder emphasized that such an achievement highlights the significance of permanence and security. He stated these elements are crucial for the sustainable and reliable development of cryptocurrency. Consequently, while the current market may undervalue SRC20, the report from Universelle insists that its inherent permanence renders it a highly secure and resilient option.
