Rune

Leonidas

Bitcoin

Read

Xverse

<p class="is-style-lead">Xverse Wallet introduces a detailed guide on Bitcoin Runes, providing insights into efficient token management on the Bitcoin blockchain post-halving.</p> 
<p>According to a guide from <a href="https://www.xverse.app/blog/bitcoin-runes" data-type="link" data-id="https://www.xverse.app/blog/bitcoin-runes" target="_blank" rel="">Xverse Wallet</a>, Runes are fungible tokens issued on Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="">BTC</a>) using the Runes protocol. Casey Rodarmor introduced Runes last year as a streamlined alternative to the BRC-20 standard.</p> 
<p>The protocol aims to avoid network congestion by preventing junk UTXOs. Supported robustly by the community, the first Rune token, RUNE, was issued immediately after the announcement, with further developments, including a significant grant and a new issuance tool.</p> 
<p>As the <a href="https://crypto.news/tag/bitcoin-halving/" data-type="link" data-id="https://crypto.news/tag/bitcoin-halving/" rel="">halving</a> approaches, the anticipation surrounding the Runes ecosystem intensifies. </p> 
<p>The guide states, “Bitcoin builders are already gearing up for the launch by building the supporting infrastructure for Runes tokens,” highlighting the growing interest and development within the sector.</p> 
<p>Runes marketplaces and launchpads, such as <a href="https://crypto.news/tag/magic-eden/" rel="">Magic Eden</a> and BitX, allow users to trade and launch various Rune-related tokens. Platforms like Fluid Tokens are also developing decentralized applications for lending runes, underscoring the ecosystem’s expanding functionality and utility.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Your ULTIMATE guide on how to setup a Bitcoin node &amp; mint Runes🫡<br><br>Many in the Xverse community are trailblazing power users!<br><br>Regardless of skill level, Xverse values Bitcoin's principle of decentralization &amp; encourages everyone to run your own Bitcoin node.<a href="https://twitter.com/hashtag/KnowledgeIsPower?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#KnowledgeIsPower</a> <a href="https://t.co/cYL1rmyjcS" target="_blank" rel="">pic.twitter.com/cYL1rmyjcS</a></p>— Xverse – Bitcoin Wallet for Web3 (@XverseApp) <a href="https://twitter.com/XverseApp/status/1779884506486276534?ref_src=twsrc%5Etfw" target="_blank" rel="">April 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/bitcoin-dominance-high-etfs/" rel=""> Bitcoin dominance back at 2021 high, boosted by ETFs </a> </p> 
<p>“Runes has a minimal on-chain footprint and improves overall efficiency,” the guide explained, contrasting the <a href="https://crypto.news/brc-20-trading-volumes-surge-10x-since-november-2023-data-shows/" data-type="link" data-id="https://crypto.news/brc-20-trading-volumes-surge-10x-since-november-2023-data-shows/" rel="">BRC-20</a> tokens derived from Ordinal Theory, not native to Bitcoin, which increase network congestion due to UTXO proliferation.</p> 
<p>Integrating Bitcoin’s UTXO model, the Runes protocol operates on Bitcoin Layer 1, enhancing base blockchain interaction without excessive UTXO production. Unlike BRC-20, Runes also penalizes errors by burning tokens, ensuring careful UTXO management.</p> 
<p>Many Ordinal and BRC-20 projects allow investors and holders to accumulate Runes by a runic miner, giving them the power to invest in this new technology before its launch. <a href="https://magiceden.io/ordinals/marketplace/runestone" data-type="link" data-id="https://magiceden.io/ordinals/marketplace/runestone" target="_blank" rel="">Runestone</a>, a BRC-20 project, airdropped 100,000 tokens to the Ordinals community which currently sits at 0.078 BTC floor, the equivalent of $5,100, and will allow its holders to accumulate Runes.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">This was just posted to LinkedIn.<br><br>It's stories like this that make me proud of the decision we made to treat whales and minnows the same in the Runestone airdrop algorithm.<br><br>Free and fair is a movement! <a href="https://t.co/5Wk0nxQCvG" target="_blank" rel="">pic.twitter.com/5Wk0nxQCvG</a></p>— Leonidas (@LeonidasNFT) <a href="https://twitter.com/LeonidasNFT/status/1779417955861750189?ref_src=twsrc%5Etfw" target="_blank" rel="">April 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> Read more: <a href="https://crypto.news/miner-moves-nearly-3-3m-in-bitcoins-for-first-time-in-14-years/" rel=""> Miner moves nearly $3.3m in Bitcoins for first time in 14 years </a> </p>

Xverse wallet releases guide on Runes, preps for Bitcoin halving

crypto.news

Інші статті, опубліковані 15 квіт. 2024 р.

IRS to target crypto tax evasion with enhanced enforcement in 2024

Bitcoin Strives for Recovery After Significant Price Turbulence

The Power Trio: BRISE, BEFE, and CENX Dominate the Crypto Market Today

Solana’s Market Resilience: Key Price Levels and Recovery Signs

DeFi Protocol Grand Base Hacked: Over $2 Million Lost

It’s Official: Hong Kong Greenlights First Bitcoin and Ethereum ETFs

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!