With the completion of the fourth halving in the Bitcoin blockchain, a new protocol called Runes has been implemented.
Developed by Casey Rodarmor, the creator of Ordinals protocol, Runes was designed as an alternative to the BRC-20 standard.
Runes allows users to create new tokens on the Bitcoin blockchain. However, unlike Ordinals, these tokens resemble meme coins more than NFTs.
The first project created on the Runes protocol was Rodamor’s own project, UNCOMMON•GOODS. Hundreds of Runes projects were prepared within a few hours after the halving.
According to Runealpha data, Runes users have paid transaction fees worth 259 Bitcoin (16.3 million dollars) so far.
