As Bitcoin Halving, Runes Go Live, Ordinals Developer Releases Guide

Ordinals Developer to Launch Runes, a New Standard for Fungible Tokens Issued Directly on Bitcoin During Halving.In the early hours of April 20, the token created by Ordinals founder Casey Rodarmor will be launched as an alternative to BRC-20, the first Bitcoin fungible token system based on Ordinal inscriptions.

BRC-20 can only function with the help of off-chain indexers that read the written data, which is a complicated way of saying each satoshi is “written,” like trying to fit a square peg into a round hole. Bitcoin is not designed to support such tokens.

Rune Ecosystem Gains Huge Traction

With the growing excitement surrounding the Bitcoin halving and the launch of the Rune Protocol, interest in advancements within the Rune ecosystem has grown. The protocol is positioned as a secondary system for Ordinals, with the potential to streamline the process and lower the barrier to entry for tokenization.

Additionally, Rune-related projects such as rune_coin and PupsToken are popular in the community by leveraging airdrops and compatibility with platforms such as Solana to build strong and active user communities.

Rune has an advantage over Bitcoin’s downturn timing

Inevitably, Rune has an inherent advantage over Bitcoin. Due to Bitcoin’s slow block times, a lot can happen between blocks. However, this is not the case with Rune. In order to guarantee that transactions can be squeezed in when Rune is close to being minted, a much higher fee than others must be paid. If not, people may forgo the fee and not receive the token.

The Rune Ecosystem will see wider adoption

Early signs indicate that interest in the protocol is growing as community-driven mining operations continue to develop. These efforts highlight the potential for significant expansion and adoption of the ecosystem, as well as expectations for protocols to merge with or switch to Rune. Furthermore, despite concerns about a potential split, overall attitudes remain positive, with many stakeholders looking forward to the opportunities the protocol will provide.