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TL;DR
Now you can create tokens on prime of Bitcoin, with out congesting the community, because of the ‘Rune’ protocol.
Will not this flood the Bitcoin community with meme cash?? Yep! And together with it’s going to come vital transaction charge income, developer consideration, and new customers to Bitcoin.
Its the identical performance has attracted hundreds of thousands of customers/builders to Ethereum over the previous 7 or so years.
Full Story
You understand how one can create your individual crypto token utilizing the Ethereum community?
(Significantly, it is kinda scary how straightforward it’s).
Yeah, nicely, now somebody (Casey Rodarmor) has introduced that very same performance to Bitcoin.
(If that title sounds acquainted, Casey can be the creator of Bitcoin Ordinals, aka Bitcoin NFTs).
So why is he doing this? Will not this flood the Bitcoin community with scammy meme cash??
Properly, yeah – it in all probability will. The truth is, that is half the purpose of all of it…
See, Casey thinks “fungible tokens are 99.9% scams and memes.” (Translation: “Most cryptocurrencies exterior of Bitcoin are scams”).
…however Casey additionally understands that this new performance has the facility to herald vital transaction charge income, developer consideration, and new customers to Bitcoin.
(Its the identical performance has attracted hundreds of thousands of customers/builders to Ethereum over the previous 7 or so years).
So after cautious consideration, he primarily determined to battle fireplace with fireplace…
Or on this case, Ethereum-based meme cash with Bitcoin-based meme cash.
Now, here is the twist:
The power to create Bitcon-based tokens already exists, because of the ‘BRC-20 protocol,’ which has brought on a bunch of community congestion over the previous 9 or so months.
However Casey’s model (what he is calling the ‘Rune’ protocol) does all of it with out clogging the Bitcoin community.
It is like he is saying, “Hey, if we’re gonna do that, let’s do it proper.”
And whereas meme cash do not excite us, we like that method.
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