Recently, Crypto spaces Filled With various types of Bitcoin Inscriptions projects and Protocols and Runes Actually the most talked word. Runes protocol represents a new type of Token standard designed specially issuing NFT on Bitcoin network.
Bitcoin Ordinals founder Casey releases Runes documentation. Runes allow Bitcoin transactions to etch, mint, and transfer Bitcoin-native digital commodities. Runes come into existence by being etched. Etching creates a rune and sets its properties. Whereas every inscription is unique, every unit of a rune is the same. They are interchangeable tokens, fit for a variety of purposes.
TLDR;
Ordinals are a way to create and manage digital assets on the Bitcoin blockchain through Runes and runestones. Runes define the properties of these assets, while runestones dictate their creation, distribution, and transfer.
Runes: These are the fundamental building blocks of Ordinals, acting as interchangeable tokens with unique IDs and properties like name, divisibility, and symbol.
Runestones: Messages stored within Bitcoin transactions that define how Runes are etched (created), minted (generating new units), and transferred.
Etching: The process of bringing a Rune into existence, establishing its properties like name and divisibility.
Minting: Once a Rune is etched with an open mint, anyone can create new units following the set terms (e.g., start/end height, cap).
Transferring: Runes are transferred between transactions through inputs and outputs, with runestones potentially altering this flow.
Edicts: Special instructions within a runestone that dictate how specific amounts of a Rune are allocated to transaction outputs.
Burning: Runes can be removed from circulation by sending them to an output designated for burning.
Cenotaphs: Malformed runestones that render the associated Runes unmintable and any existing units unspendable. They serve as an upgrade mechanism for the Ordinal protocol.
🌀 Why Runestone Getting Attention?
They're a new way of doing NFTs on the Bitcoin blockchain, supposedly more transparent and accessible for everyone. They were given out for free to people already involved with Bitcoin Ordinals. They're special to holders because they carry important moments from Bitcoin's history and were airdropped. Runestones have changed the NFT communities opperate, they are fair, open to everyone, and involve everyone in their creation and use.
The coolest part for some folks is that one Runestone got sent to someone believed to be the mysterious Satoshi Nakamoto, the creator of Bitcoin! It might not change anything practical, but it sure adds some excitement to the whole Runestone thing.
🔆 Runestone Memecoin
After the complete distribution of the Runestone airdrop, Leonidas initiated a poll on the X platform to inquire about the total amount of Meme tokens to be distributed through Runestone. The poll saw over 10,000 participants, with the most supported token amount being 21,000,000.
⚡ 𝗠𝗼𝗿𝗲 𝗔𝗹𝗽𝗵𝗮, 𝗝𝗼𝗶𝗻 𝗨𝘀, 𝗙𝗼𝗹𝗹𝗼𝘄 𝗨𝘀, 𝗦𝗵𝗮𝗿𝗲 𝗨𝘀 ⚡ @Techandtips123
