The Bitcoin network is witnessing a significant development with the launch of Runes, a new standard for fungible tokens, coinciding with the highly anticipated fourth Bitcoin halving.
Runes, created by Casey Rodarmor, the developer behind Ordinals, aims to provide a more efficient and compatible alternative to the existing BRC-20 token standard.
TLDR
- Runes, a new standard for fungible tokens on Bitcoin, launches on the same block as the halving (block #840,000).
- Runes are an alternative to BRC-20 tokens and do not depend on the Ordinals inscription mechanism.
- Runes are compatible with the Bitcoin Lightning Network, potentially offering faster and cheaper transactions.
- Bitcoin miners have made $107 million in profits, with 75% coming from transaction fees, largely due to the Runes minting activity.
- The RUNE protocol has gained significant attention, with minters spending over 80 Bitcoins in fees and achieving 20,000…
