Exploring Runes Protocol
paragraph.xyz Exploring Runes Protocol |
AI summary of the linked articleCasey Rodarmor launched the Runes protocol in April 2024 at block 840,000, during the latest halving, as a fungible token standard on Bitcoin that the article describes as a streamlined alternative to the BRC-20 standard. The article says Runes are an attempt to clean up the network's surplus UTXOs and that ordinals fees had previously helped sustain miner incentives. It cites the Runestone airdrop, in which pseudonymous developer Leonidas airdropped $DOG coins to holders of Runestone inscriptions. It also notes that Runes can be traded on marketplaces such as Unisat, OKX and Magic Eden, but that no decentralised exchange supports swaps yet. |
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1 comment  Thanks for this summary Papajams. I gotta admit, I‘m pretty out of the loop on Ordinals and Runes, but your post was a great TLDR. I thought it was interesting to hear that people would put up with 30-60 minute block confirmation times. Unfathomable as an L2 user nowadays |
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