🗓️🔍Runes and BRC-20 tokens are two distinct approaches within the Bitcoin ecosystem, each with its own unique features and use cases.
**Runes** are a protocol extension for Bitcoin that focuses on enabling complex smart contracts and decentralized applications (dApps) directly on the Bitcoin blockchain. Runes aim to bring more programmability and versatility to Bitcoin, similar to what Ethereum offers, without compromising Bitcoin’s security and decentralization. They allow developers to create sophisticated financial instruments, decentralized finance (DeFi) applications, and more, leveraging Bitcoin’s robust network.
On the other hand, **BRC-20 tokens** are a token standard on Bitcoin, inspired by Ethereum's ERC-20 tokens. BRC-20 allows for the creation and transfer of fungible tokens on the Bitcoin network, utilizing the Ordinals protocol. This standard has gained attention for enabling tokenization and decentralized trading on Bitcoin, which traditionally lacks the native token creation capabilities of blockchains like Ethereum.
While Runes focus on expanding Bitcoin’s functionality into smart contracts, BRC-20 aims to replicate Ethereum's token ecosystem on Bitcoin. Both contribute to Bitcoin's evolving role beyond a store of value, enhancing its utility in the broader crypto space.#RunesProtocol #Runes #BinanceTurns7