Bitcoin inventor proposes “Runes,” a UTXO-based token protocol to solve UTXO proliferation issues caused by BRC-20 tokens.
BRC-20 tokens, worth $1 billion, clutter Bitcoin with unwanted UTXOs, creating efficiency problems.
The world of Bitcoin and blockchain technology is no stranger to innovation and disruption. In a recent development, the inventor of Bitcoin Ordinals has proposed an exciting alternative to the existing BRC-20 token standard, known as “Runes.” This proposed protocol could address pressing issues in the Bitcoin ecosystem, offering a more efficient and streamlined approach to fungible tokens.
Introduced in March by an anonymous developer named “Domo,” the BRC-20 token standard quickly gained traction in the cryptocurrency world. Within two months, the BRC-20 market cap soared to $1 billion. Notable tokens like PEPE and ORDI emerged as prominent players within this standard.
New terrible idea just dropped: Runes.
A worse-is-better fungible token protocol fo
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