BSV Blockchain Sees Major Upgrade with BRC-162
A significant upgrade to the BSV blockchain, called BRC-162, has been implemented. This upgrade streamlines fungible token transactions by making token data easier for Bitcoin Script to process. Existing BSV-21 tokens need no migration, but wallets and indexers must support BRC-162 for users to access the new format.
BRC-162 unites BSV-21's token model and BRC-92's encoding into one standard, eliminating the need to support two separate formats. The new encoding is binary, and the whole format fits on one line of script.
The upgrade preserves existing BSV-21 tokens, requiring no migration, and unifies BSV-21 and BRC-92 into one standard. Wallet and indexer support is still pending, while the official name, Mandala Tokens, could eventually give way to the proposed 1Color Tokens.