BITVM is an "ARC-20 inscription concept coin" deployed on the Bitcoin mainnet. The ARC-20 token standard is provided by the Atomicals protocol and is minted and transmitted based on BTCs UTXO. Its basic unit, the atom, is composed of the smallest unit of Bitcoin, a sat. This means each unit of ARC-20 token is forever backed by 1 sat, i.e., 1 Token = 1 sat. Additionally, ARC-20 is the first token protocol to mint inscriptions via POW, meaning participants can mine inscriptions/NFTs just as they would mine Bitcoin.
