jakiro
Author: @DWFVentures; Compilation: Vernacular Blockchain
Bitcoin halving is coming in a few days!The ecosystem is busy, especially activities about ordinal numbers and runes, so let’s take a deeper look.
Ordinal numbers were launched by @rodarmor in January 2023, which increases the amount of data that can be stored on the blockchain, thus promoting the inscription.This inspired a series of innovations using the system, such as BRC-20 and Runes, which show the differences between them in the table below.
With the launch of Bitcoin halving and the rune protocol, the ordinal transaction volume has increased exponentially, expected in April.It is worth noting that in the past month, Bitcoin’s trading volume has been almost the same as Ethereum, with the main markets being @okx and @MagicEden.
(Link: https://dune.com/domo/ordinals-marketplaces)
The most well-known NFT collections in ordinal include @nodemonkes, @BitcoinPuppets and @QuantumCatsXYZ.
In addition to having strong community support, holders of these collectibles have also received various airdrops such as @runestone_ETH, @rune_coin and @PupsToken.
Some of these airdrops are of quite high value, creating a wealth effect for the ordinal/rune ecosystem.Similar to WIF, this creates a loyal community that helps drive the story even more intensely.Therefore, the excitement about the rune protocol is high.
The Rune Protocol is intended to be an interchangeable counterpart of ordinal numbers and was developed by @rodarmor.It aims to attract long-term participation of users/developers through the following ways:
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Reduce complexity through UTXO-based models (close to Bitcoin)
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Reduce data and storage requirements compared to BRC-20
Recently, early exposure to Rune Agreement projects have attracted attention.The holders of @rune_coin can mine RSIC runes and merge/pool their positions with other miners to potentially get more runes after halving.RSIC pre-sale is on @whalesmarket.
@PupsToken is the leading MemeCoin in the rune field.Part of the supply has been airdropped to holders of @BitcoinPuppets/OPIUM, forming a strong community from the outset.Interoperability with Solana via @Multibit_Bridge also helped increase attention to it.
As the halving approaches, we expect many protocols to be launched or migrated to runes.Despite concerns about fragmentation/lack of uniform standards, we believe this provides a solid foundation for enhanced application scenarios and will see a large-scale interest similar to that at the time of BRC-20 launch.
