DRC-20

DRC-20 is an experimental standard for creating fungible tokens on the Dogecoin blockchain, introduced in 2023 and closely modelled on Bitcoin's BRC-20. Dogecoin has no smart-contract system, so DRC-20 tokens are not managed by code on the chain. Instead, users inscribe small pieces of text in a JSON format into Dogecoin transactions, a technique known on Dogecoin as "Doginals" after Bitcoin's Ordinals. Each inscription declares an action, such as deploying a new token with a name and supply limit, minting a share of it or transferring it. Off-chain indexers read these inscriptions in order and calculate everyone's balances. The approach lets meme tokens launch on Dogecoin but has drawbacks: balances depend on indexer software agreeing, wallet support is limited, the inscriptions add data and fees to the network, and many tokens are highly speculative. Also see token standard and meme coins.