INFORMATION ABOUT BITCOIN RUNES!
1. Introduction:
Casey Rodarmor, founder of Bitcoin Ordinals, has revealed the new Bitcoin-native digital goods protocol: Runes.Runes launched to coincide with the Bitcoin halving, marking a major evolution in digital asset processing capabilities on the Bitcoin blockchain.
2. Main features:
Simple Transactions: Streamlines token deployment, minting, and validation into a single transaction. Scalability: Odd-even field tagging system allows for future expansion and programmability. Space larger name: Expands the character limit for token names from 4 to 28. Improved security: Prevents tampering and reduces the risk of attacks. Unique token names: Avoid creating duplicate tokens.
3. Token issuance and transfer:
UTXO-based system: Issue tokens directly into UTXO, manage balances and transfers efficiently. Runestones: Enhance token portability and ensure future compatibility.
4. Future vision:
Supports multiple applications and interactions: Complex inscriptions, off-chain liquidity pool. Enhanced Bitcoin DeFi ecosystem: Efficient on-chain footprint, compatible with Lightning Network.
5. Activation:
Runes are activated at the time of Bitcoin's halving, scheduled for April 20.
Conclude:
Bitcoin Runes is a promising new protocol that brings advanced digital asset processing capabilities on the Bitcoin blockchain. With its impressive features and development vision, Runes has great potential to advance the Bitcoin DeFi ecosystem and open up new possibilities for the future.
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