Bitcoin Asset Protocol BRC-20 Appoints New Maintainer
Domo, the creator of the Bitcoin Request for Comment 20 (BRC-20), announced that his non-profit foundation is now dedicated to the governance of the BRC-20 protocol. Known as the Layer 1 Foundation (L1F), the organization will oversee protocol maintenance in collaboration with Ordinals companies such as Unisat and Best In Slot, according to a press release sent to Bitcoin Magazine.
“The goal is to support the growth of the Bitcoin metaprotocol in Ordinals and beyond,” said BRC-20 creator Domo. “BRC-20 was an early experiment, but we are seeing a wave of standards that require tools, infrastructure, and support. “We hope to support Bitcoin innovation in a fair and market-neutral capacity.”
Unisat and Best In Slot have been appointed as co-leads for the BRC-20 protocol and indexer, which will operate under the governance guidelines set by L1F. Known for developing the first BRC-20 indexer in collaboration with Domo, Unisat recently played a pivotal role in listing the BRC-20 token, which reached a market capitalization of $5 billion.
Due to concerns about the risks associated with centralized indexers, Best In Slot developed the decentralized BRC-20 indexing solution. As co-leads, the two companies will work together to advance the decentralization of the BRC-20 indexer.
Domo also appointed five Ordinals companies to the L1F Supervisory Board, which is tasked with implementing governance guidelines for the BRC-20 standard. These companies, including Hiro, Allium, ALEX, Oyl Dynamics and UTXO Management, represent key stakeholders in the BRC-20 ecosystem.
The Layer 1 Foundation, which operates as a non-profit organization with 501(c)(6) status, aims to advance Bitcoin’s metaprotocol development beyond BRC-20. We seek to provide educational resources and tools to support developers across the Bitcoin-based ecosystem to foster innovation in a fair and market-neutral manner.
Disclaimer: BTC Inc., the parent company of UTXO Management, is also the parent company of Bitcoin Magazine. UTXO management operates independently and separately from Bitcoin Magazine.
