The LTC-20 standard is an experimental protocol being developed on the Litecoin Ordinals Protocols with a proposed supply of 84 million. This standard is similar to the BRC-20 standard, which represents a token model stored on the base chain of Bitcoin by combining Ordinals and Inscriptions. The group leading this initiative, Litecoin Punks, reports that about 20% of the first LTC-20 tokens have been minted, with 4000 inscribed for each Punk owner.
The impact of this development is still uncertain, but the Litecoin community is eagerly watching it. The LTC-20 experiment is considered a way to explore possibilities on the Litecoin blockchain. The goal is to deploy LTC-20 tokens, mint a certain amount, and transfer some tokens.
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