Introducing Bitcoin Runes - A Special Edition Focusing on the Latest BRC20 Alternative
Another protocol on Bitcoin? Casey Rodarmor introduces an alternative to BRC-20 Bitcoin Fungible Token Standard.
2 days ago: Ordinals creator Casey Rodarmor broke the Bitcoin community with the introduction of Runes. According to Rodarmor, Runes are an alternative to the BRC-20 Bitcoin Fungible token standard, focused on harm reduction compared to the existing protocols. Rodarmor hopes that, despite his skepticism towards Fungible tokens, calling them “scams and memes”, a good Fungible token protocol can bring significant transaction fee revenue, developer mindshare, and users to Bitcoin. Let’s dive into the next big thing on Bitcoin: Runes!
Runes are easy to implement & adopt, easily indexed without complex requirements, employs a UTXO based model to reduce the amount of unspent transactions and does not require a native token.
Runes are harm reduction. BRC-20s create a lot of unused UTXOs. In order to spend Runes, you have to destroy UTXOs, which is good for the system as a whole. It’s also beneficial for users, enabling simpler PSBT-based swaps.
Rodarmor states that protocols with a native token which is required for protocol operations are cumbersome, extractive, and naturally less widely adopted.
📢 Builders Watch: Bitcoin Frontier Fund opens $100K bounty for someone who is able to create a Runes Indexer.
Bitcoin Builders & Runes
Luminex is pleased to unveil our Runes Issuance Tool, streamlining the process of Runes Token Creation on Bitcoin.
Ordinals wallet announces it is the first crypto wallet to support Runes.
Layer 1 Foundation created by the likes of BRC-20 creator DOMO to advance the adoption of meta protocols on Bitcoin, bridging the gap between indexing and governance.
Unisat shares proposal for Runes, to help develop BRC-20 modules for Runes and Lightning.
Opportunities for Bitcoin Builders
Learnweb3 launches AI hackathon including prizes that make a great fit to build on Bitcoin.
EasyA is bringing a large (500K+) community to Bitcoin, hosting a hackathon in London for all levels interested in smart contracts for Bitcoin on L2 Stacks.
President of IOV Labs (Rootstock) Daniel Fogg, Sovryn Contributor Edan Yago and Lead engineer Babylon Vitalis Salis added to the Bitcoin Unleashed London event.
Testnet Program for sBTC opens for builders to try programmable Bitcoin on the L2.
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