What are Runes?
Runes, created by Casey Rodarmor, who is also the creator of Ordinals, was launched in April 2024 at block 840,000—timed with the Bitcoin halving event. This new protocol aims to address the inefficiencies of the current Bitcoin token standard, BRC-20, particularly its tendency to produce surplus "junk" UTXOs, which can congest the network. The Runes protocol enhances the network by reducing unnecessary UTXOs, offering a cleaner and more efficient framework for token transactions on Bitcoin.
By leveraging UTXO-based data storage, Runes inherit Bitcoin's robust security features, making it more secure and resistant to reorganizations. This resistance ensures that Runes transactions maintain stability even as network conditions change.
Runes also support the creation and management of digital tokens directly on the Bitcoin blockchain, using native features for on-chain data storage without relying on off-chain data or special tokens. Tokens are etched, minted, and transferred using Runestones, protocol messages stored in Bitcoin transaction outputs. This protocol is set to revolutionize digital interactions on the Bitcoin network, fostering innovation and potentially enabling a variety of new activities on the blockchain.
What Can I Do with My Runes in Leather?
With the Leather wallet, you can maximize the utility of your Runes:
Bitcoin Launchpads: Etch, mint, and transfer Runes using various Bitcoin-based launchpads.
NFT Marketplaces: Participate in NFT marketplaces that support Runes, buying, selling, or trading digital assets secured by the Bitcoin blockchain.