Hi HODLers, Hiveans and Lions,
Runes on Bitcoin? WTH!
Bitcoin’s new Runes fungible token standard launched late Friday alongside the quadrennial halving event, and the immediate demand pushed network fees to a level never before seen on the original blockchain network. Already, at least one centralized exchange (or CEX) has already taken notice and gotten in on the action.
Fees were gettingcrazy post-halving
There was a mad rush to launch Runes tokens on Friday when the protocol went live, so much so that it helped push Bitcoin network fees on the first several post-halving blocks into the millions of dollars combined.
Runes is a new standard for creating tokens on the Bitcoin blockchain. The protocol comes from the creator of Ordinals—another craze which took off last year, allowing people to mint NFT-like assets on the Bitcoin blockchain.
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Posted Using InLeo Alpha
