As the anticipated Bitcoin Halving approaches, a new native digital commodity protocol is set to make its presence felt in the cryptocurrency landscape. The Runes Protocol, developed by the mind behind the Ordinal Theory, Casey Rodarmor, is generating buzz as it introduces a new fungible token standard for Bitcoin.
A recent report by crypto analysis firm Delphi Digital sheds light on the potential of Runes to disrupt the tokenization landscape, challenging the dominance of BRC-20s.
A Glimpse Into The Runes Protocol
Unlike its predecessors, Runes is not a token itself but rather a framework that enables the creation of altcoins on the Bitcoin Network. Tokens created using the Runes Protocol, aptly named “Runes,” are fungible, meaning each Rune is interchangeable.
According to the research firm, this token standard offers several unique features that set it apart from existing token standards.
The Runes Protocol leverages Bitcoin’s UTXOs (Unspent Transaction Outp
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