With the completion of the fourth halving on the Bitcoin blockchain, a new protocol called Runes has been implemented.
Developed by the creator of the Ordinals protocol, Casey Rodarmor, 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 under the Runes protocol was Rodamor’s own project, UNCOMMON•GOODS. Within a few hours after the halving, hundreds of Runes projects were prepared.
According to Runealpha data, Runes users have paid transaction fees worth 259 Bitcoin (16.3 million dollars) so far.
