๐ฎBitcoin Runes and BRC-20 tokens are shaking up the Bitcoin DeFi scene, but they might just be the appetizer before the main course. These innovations are part of a growing desire to add more utility to Bitcoin's blockchain, says Rich Rines, a Core DAO contributor.๐ทโโ๏ธ
Runes, a new protocol for issuing tokens on the Bitcoin network, caused quite a stir when it launched on April 20. But Rines suggests the market will ultimately decide which standards prevail in the decentralized world of Bitcoin.๐ฐ
Meanwhile, Bitcoin is flexing its muscles as a yield-generating asset. Core Chain launched the first noncustodial Bitcoin staking product on April 23, offering a risk-free yield opportunity for Bitcoin hodlers. Other protocols are also working on creating more utility for Bitcoin.๐
So, what do you think? Are Runes and BRC-20s the future of Bitcoin DeFi, or just a stepping stone? Let's discuss in the comments!๐