🎉The Runes protocol is about to be launched. Let us learn about this homogeneous token protocol that will be launched during the Bitcoin halving in April!

First of all, Runes is a protocol for issuing homogeneous tokens on the Bitcoin network. Its core is based on UTXO and its design is very simple. Runes are based on UTXO, which means that the transaction output can not only contain Bitcoins, but also different quantities and types of Runes. For example, a transaction output can contain 1 Bitcoin, 100 A Runes and 1000 B Runes at the same time.

The process of issuing a new Rune token is called "etching", and each Rune's name is unique and can be composed of the uppercase letters A-Z and the "•" symbol. In order to balance the release rhythm of Rune and prevent the popular and short name Rune from being quickly occupied in the early stage, the Runes protocol requires the name to be at least 13 letters in length during the first four months of its launch, such as "PEPE•IS•AWESOME".

Runes issuance adopts a Commint-Reveal mechanism to prevent miners from learning the name of Rune in advance and jumping the gun. The unit of Rune tokens can be a traditional currency unit, such as $, or any Unicode emoticon. This design makes Rune tokens more interesting and personalized.

When performing Runes transfers, the ordering of inputs and Sats is not critical, but the ordering of outputs directly affects the result of the transfer. Normally, in a transaction, Runes from all inputs are transferred to the first output by default. However, by structuring the OP_Return output, it is possible to redirect Runes to a specific output.

It is worth noting that Runes is compatible with SPV wallets. Users can use SPV wallets to manage and use Rune tokens and enjoy a light, simple and fast transaction experience.

Finally, Casey, the founder of Runes Protocol, said that 99.9% of homogeneous tokens are scams. Don’t pretend to change the world. Frankly admit that this is an industry full of gambling and speculation, and treat each other with sincerity. Well done to all. IT'S JUST FOR FUN!

What do you think of the Runes Protocol? Welcome to speak freely in the comment area and discuss together! 😄