Xverse wallet launches comprehensive Runes guide in anticipation of Bitcoin halving

Xverse Wallet has released a comprehensive guide on Bitcoin Runes, offering valuable insights into effective token management on the Bitcoin blockchain post-halving. According to the guide, Runes are fungible tokens established on the Bitcoin (BTC) network using the Runes protocol. Casey Rodarmor introduced Runes as a more streamlined alternative to the BRC-20 standard. The protocol is designed to prevent network congestion by eliminating unnecessary UTXOs. The community strongly supports this initiative, with the first Rune token, RUNE, being issued shortly after the announcement. Further developments, such as a significant grant and a new issuance tool, have contributed to the growth of the ecosystem.

With the halving approaching, excitement around the Runes ecosystem is mounting. The guide mentions that Bitcoin developers are actively preparing for the launch by creating the necessary infrastructure for Runes tokens, showcasing the increasing interest and progress in this area. Marketplaces and launchpads like Magic Eden and BitX enable users to trade and launch various Rune-related tokens. Platforms such as Fluid Tokens are also developing decentralized applications for lending runes, highlighting the expanding functionality and utility of the ecosystem.

The guide explains that Runes have a minimal on-chain presence and enhance overall efficiency, contrasting them with BRC-20 tokens based on Ordinal Theory, which are not native to Bitcoin and contribute to network congestion due to UTXO proliferation. By integrating Bitcoin’s UTXO model, the Runes protocol operates on Bitcoin Layer 1, improving base blockchain interaction without generating excessive UTXOs. Unlike BRC-20, Runes address errors by burning tokens, ensuring careful UTXO management.

Several Ordinal and BRC-20 projects enable investors and holders to accumulate Runes through a runic miner, providing them with the opportunity to invest in this new technology before its official launch. For example, Runestone, a BRC-20 project, distributed 100,000 tokens to the Ordinals community. This distribution, currently valued at 0.078 BTC or $5,100, empowers holders to accumulate Runes.

The guide underlines the commitment to fairness in the Runestone airdrop algorithm, treating all participants equally, whether they are whales or minnows. This dedication to equality reflects a broader movement.

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