Since the fourth halving, Runes trading volume has exploded, opening up a new sector for Bitcoin with meme coins.

Runes are a fungible token protocol on the Bitcoin (BTC) blockchain, allowing the network to utilize meme coins and other fungible projects.

“Runes were built for degens and memecoins, but the protocol is simple, efficient, and secure […] the protocol is self contained and has no dependencies on ordinals or inscriptions, making it extremely simple”, Casey Rodarmor, the creator of Runes and the BRC-20 protocols, said in a tweet.

Rodarmor took Rune #0, the genesis Rune, as he didn’t want high transaction fees fighting over the first Rune, which has the name UNCOMMON•GOODS. According to Magic Eden, Runes are numbered in chronological order in which they are etched or minted and have distinct symbols to differentiate each Rune.

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Author: Bralon Hill

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