We recently listed three Bitcoins Runes tokens on BTSE. But what exactly is the Runes Protocol, and why does it matter for Bitcoin?
Although Bitcoin has been around for quite some time now, other cryptocurrencies like ETH have been evolving rapidly in both innovation and use cases, leaving BTC somewhat behind.
Casey Rodarmor (@rodarmor), a prominent Bitcoin developer and creator of Bitcoin Ordinals, stepped up with an answer in the form of Bitcoin Runes, a new evolution of Bitcoin.
Runes is built on top of the BTC network, and allows users to issue tokens utilizing the UTXO (Unspent Transaction Output) protocol. This is the same system that Bitcoin uses for its transactions.
As a result, this allows Bitcoin to increase its utility potential without compromising its core roots: Bitcoin fundamentals, but with more functionality. Now, with Runes, developers can create their own tokens on top of the Bitcoin chain.
With that, let’s take a deeper look at the three Runes tokens we just listed.
Satoshi Nakamoto (SATOSHI)
Named after the founder of Bitcoin, Bitcoin Runes #6 aims to enhance scalability and efficiency in the Bitcoin network. One of the initial projects under the Runes umbrella, SATOSHI is considered one of the inaugural tokens dedicated towards the goal of expanding Bitcoin’s ecosystem and use cases.
- Market Cap: $17,352,725
- Website: https://www.luminex.io/rune/SATOSHI•NAKAMOTO
- Total Supply: 21,000,000 SATOSHI
RSIC GENESIS RUNE (RUNECOIN)
The 8th Rune built on the Runes Protocol, RSIC (Rune-Specific Inscription Circuits) provides new opportunities to interact with Bitcoin, better integrating community content and interactions. Aiming to be the first peer-to-peer rune allocation system on the Bitcoin network, a gamified approach is used to mine an allocation of tokens.
- Market Cap: N/A
- Website: https://runecoin.io/
- Total Supply: 21,000,000,000 RUNECOIN
DOG•GO•TO•THE•MOON (DOGRUNE)
A Bitcoin Runes memecoin. With the rise of memecoins on different chains, it only makes sense for the Bitcoin network to have a couple as well. Within 24 hours of launch, it reached a market capitalization of half a billion dollars. The team aims to provide a transparent and fair approach in various aspects, including no presale, 100% circulating supply, and more.
- Market Cap: $476,680,067
- Website: https://doggotothemoon.io/
- Total Supply: 100,000,000,000 DOGRUNE
We’re excited to see what the Bitcoin ecosystem will evolve into in the near future. Stay tuned to see what other Runes tokens we aim to list in the future.
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