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If so, would this token adhere to the same principles as Bitcoin, such as halving events and mining techniques?

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Many different projects have been started as an attempt to bring tokenization on to Bitcoin such as Taro, Counterparty, and RGB. It is worth noting these are not Bitcoin core standards but are projects built on top of existing Bitcoin functionality. Therefore they do not have any implicit tie to Bitcoins proof of work consensus mechanism and also would not automatically inherit the halving cycle of Bitcoin. Even if tokenization was built at the core level, tokens always have rules that are distinctly separate from the rules of the chain's native coin.

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BRC-20 tokens are created on the Bitcoin blockchain and don't follow Bitcoin rules for halving and mining.

You could think of it as a bit like like writing "IOU €50" on a $1 banknote. The US Treasury and The Bureau of Engraving and Printing don't know about or control those IOUs.

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Yes, that's what BRC-20 tokens (aka 'ordinals') are. It sort of jumped the shark though. It was popular for about 3 weeks, but it's difficult to get started for most new users. They are created using ordinal inscriptions, which are a type of script file that can be stored on the Bitcoin blockchain. BRC-20 tokens can be used to represent a variety of assets, such as digital art, collectibles, and gaming items as well, so they might end up competing with NFTs some day.

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