Developers of Bitcoin sidechain MVC prepare for BRC-20 DEX launch
The MVC governance token has surged in 2023 to a fully diluted market cap of over $400 million.
Developers of Bitcoin side-chain MicroVisionChain (MVC) have unveiled a BRC-20 decentralized exchange (DEX) as part of its roadmap for Q1 2024.
In an interview with Cointelegraph, MVC chief operating officer Jason Kwok claims to have developed a “1:1 mapping relationship” with Bitcoin on its sidechain. “This essentially creates a parallel version of your Bitcoin assets, such as BRC-20, on MVC,” said Kwok, explaining that the bridge allows users to swap BRC-20 token assets on the MVC sidechain, thus bypassing the high transaction and gas fees required to deploy decentralized applications (DApps) on the Bitcoin mainnet.
In keeping with the spirit of Bitcoin’s creator, Satoshi Nakamoto, Kwok explains that MVC has no particular founders or corporate headquarters. Instead, the sidechain is a “collaborative endeavor” involving many development teams that form the Bitcoin ecosystem.
