2024

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin innovator Casey Rodarmor launched Runes – the new fungible token standard on Bitcoin.</li>
 <li>OKX Web3 Wallet and UniSat enable easy access and adoption.</li>
</ul>
<p>The Bitcoin halving is finally complete, and although the event has been anticipated with a lot of hype, the crypto industry also saw the launching of Runes protocol – a new fungible token standard on Bitcoin.</p>
<p>Casey Rodarmor’s latest creation is different from Ordinals, and its integration could boost Bitcoin’s economic model. The new standard for fungible tokens is integrated directly into the Bitcoin blockchain.</p>
<h2 id="okx-announces-runes-trading-on-the-marketplace">OKX announces Runes trading on the marketplace</h2>
<p>OKX crypto exchange announced the OKX Web3 Wallet Runes Market is officially online.</p>
<p>In an <a href="https://www.okx.com/learn/okx-marketplace-runes-bitcoin-halving" rel="noopener noreferrer nofollow" target="_blank">official announcement</a>, the exchange reveals that it added support for Runes, Rodarmor’s new fungible token standard. Casey Rodarmor is a former Bitcoin developer and artist.</p>
<p>With the new OKX addition, users will be able to create, mint, manage, and trade Runes on the marketplace.</p>
<p>According to the exchange, following Bitcoin’s recent halving, OKX is the first platform to offer zero-fee Runes trading on mobile.</p>
<p>As part of the launch, the initial Runes tokens available on the OKX Marketplace include UNCOMMON.GOODS, PUPS, and WZRD.</p>
<p><a href="https://twitter.com/okxchinese/status/1781484741797306430" rel="noopener noreferrer nofollow" target="_blank">OKX</a> notes that before implementing Runes support, the Web3 team hosted an X Spaces session alongside Pups, NODES, and WorldPeaceBitcoin and a Q&amp;A. The session reportedly focused on Runes as “the next biggest thing on Bitcoin,” and it highlighted the exchange’s commitment to shaping the future of the Runes ecosystem alongside other important projects.</p>
<p>OKX noted that to celebrate the addition, they also enhanced the prizes for the Bitcoin halving-themed “OKX Web3 Bitcoin Drop” campaign focused on adding more engagement on the Bitcoin network.</p>
<p>The exchange concluded by highlighting that the successful introduction of Runes support is on the same path as the broader vision of OKX of driving innovation and pushing the boundaries of possibilities in the Bitcoin ecosystem.</p>
<h2 id="unisat-announces-runes-official-launch">UniSat announces Runes official launch</h2>
<p>UniSat, a Bitcoin service provider that supports inscription assets, has also announced on X the launch of Runes. The key features include the following: etching, mint, marketplace and Runes Manage.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"> We're excited to announce that <a href="https://twitter.com/hashtag/Runes?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Runes</a> has now officially launched on <a href="https://twitter.com/hashtag/UniSat?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#UniSat</a>!</p>
 <p><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;">Key features:<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Runes Etching<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Runes Mint<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Runes Marketplace<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Runes Manage</p>
 <p><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4cd.png" alt="📍" class="wp-smiley" style="height: 1em; max-height: 1em;">Start Exploring <a href="https://t.co/aG2ZKwONiD" rel="noopener noreferrer nofollow" target="_blank">https://t.co/aG2ZKwONiD</a> <a href="https://t.co/QxK3uNO3iw" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/QxK3uNO3iw</a></p>
 <p>— UniSat – Inscribe your dream. (@unisat_wallet) <a href="https://twitter.com/unisat_wallet/status/1781480425866875248?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 20, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="boosting-bitcoin-s-economic-model">Boosting Bitcoin’s economic model</h2>
<p>The integration of Runes on the two platforms is expected to boost Bitcoin’s economic model. The other day, we addressed the Bitcoin miners’ fate following the halving event, which slashed their rewards from 6.25 BTC to 3.125 BTC.</p>
<p>However, Chief executives of the mining companies&nbsp;<a href="https://crypto.ro/en/news/bitcoin-miner-stocks-decline-as-interest-in-btc-etfs-surges/" rel="noopener noreferrer nofollow">remain bullish</a>, addressing low-cost operations, more effective equipment, and the growing demand for Bitcoin. Other optimistic factors for miners post-Bitcoin halving include <a href="https://crypto.ro/en/news/whats-next-for-bitcoin-miners-post-halving-optimism-still-alive/" rel="noopener noreferrer nofollow">Ordinals and Runes</a>.</p>
<p>Runes integration could impact the economic model of Bitcoin, potentially amplifying fee generation. The Runes ecosystem attracted significant attention especially since the launch was scheduled during the same day as the <a href="https://crypto.ro/en/news/breaking-bitcoin-halving-slashed-block-rewards-from-6-25-btc-to-3-125-btc/" rel="noopener noreferrer nofollow">Bitcoin halving</a> event.</p>
<p>The complementary system to Ordinals, Runes promises streamlined processes and reduced barriers to tokenization, bringing a strong potential to revolutionize the Bitcoin landscape.</p>
<h2 id="what-is-runes-protocol">What is Runes protocol?</h2>
<p>Runes is similar to Ordinals, allowing people to etch and mint tokens on-chain. The primary difference is that Ordinals are non-fungible, and Runes function more like memecoins.</p>
<p>The Ordinals protocol was launched in December 2022, and it’s often referred to as the second phase of Bitcoin. It allows users to put images, audio, and code files on the Bitcoin blockchain. The concept of Runes was introduced to facilitate the creation of fungible tokens on the Bitcoin network.</p>
<p>Runes’ launch will open the door for a battle for blockspace where players will compete with each other to see who can issue the first tokens and the best token names, along with a battle to see who can be the first to buy these tokens.</p>
<p>Unlike Ethereum and Solana blockchains, Bitcoin has been perceived as an asset with no special purpose, but with the launch of <a href="https://crypto.ro/en/education/7-best-bitcoin-ordinals-and-runes-projects-ahead-of-btc-halving/" rel="noopener noreferrer nofollow">Runes</a>, together with the Ordinals protocol, Bitcoin is set to get renewed interest.</p>

Runes Protocol Launches on OKX and UniSat

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