jakiro
Author: ASH Li, Bitcoin Square
Recently, RuneStone, with a total volume of 112383, has attracted widespread market attention since its release. Its total transaction value exceeds the amazing 1,400 Bitcoin, and the average price is also rising. After that, more and more airdrops are issued to make the RuneStone heat.There is a feeling of gold shovel.What kind of project is RuneStone?What does it have to do with the Runes protocol?This article will explore the Runes protocol and ecology and look forward to the future ecology.
1. Bitcoin Insception Ecological Overview
background
From the wealth effect produced by the $ ORDI starting in March last year, to the rise of the first wave of May in May, and the second wave of inscriptions in November to December, everyone is discussing what to play today and what to play tomorrow.In the ups and downs.Back to the blockchain itself, what are the Bitcoin inscriptions every day, what is the Ordinals protocol, and various protocols ending at the end of “20” are endless.What connections and differences, why do you suddenly come to a Runes protocol?We will continue to explore the colorful Bitcoin ecological agreement with these issues today.
Introduction
Ordinals protocol
The earliest by Casey (Casey (@Rodarmor) Published in December 2022, the agreement allows the data to engrav the data at the smallest unit of Bitcoin, including text, pictures, audio, video and other data information. The Bitcoin inscriptions that we have always said is(INSCRIBE) metadata on Satoshis is the NFT on Bitcoin we often call Bitcoin.For detailed information, you can take a look at the article on the Ordinals protocol written before:https://www.spectrumlab.io/zh/reports/ After reading this article, your understanding of the order of Ordinals will exceed 99The described inside is more detailed.
BRC-20 protocol
The BRC-20 protocol is anonymous developer
The ARC-20 is a dye coin model. Unlike the Ordinals protocol, each ARC-20 tokens must have a smart support, not the distinction between the BRC-20 by sorting.The information is carved into the trading script. The balance is expressed in the number of UTXO’s SAT. The transfer function is completely processed by Bitcoin’s main network. The relevant changes of the tokens can be intuitively reflected on the chain.At the same time, Artomicals uses instruction to operate each ARC-20 toke as the first “output” of the transaction to avoid being spent as a miner’s cost. At the beginning of the wallets did not support the agreement, the phenomenon of burning assets occurred occurred.Essence
SRC-20 protocol
The SRC-20 uses the BTC Stamps protocol, that is, the Bitcoin stamp agreement, not the Ordinals protocol. We can also see from the address when the inscription and transfer are used.It’s not the address of the “BC1P” we often use.The main difference between Stamps and Ordinals is that the architecture is different. The Stamps protocol is to store metadata in multiple signature UTXO, and the Ordinals protocol stores metad data in the SEGWIT part of Bitcoin transactions.
2. Runes protocol
Timeline background
On May 8, 2023, the core developer of BTC issued a post, claiming that too much garbage caused by the BRC-20 protocol and frequent transactions caused the BTC network to block. The BTC community should take action to prevent it;The agreement and hope to stop the casting BRC-20. On September 26, 2023, Casey Rodarmor re-developed an agreement called Runes as a alternative to the BRC-20.This protocol is a alternative token protocol that allows Bitcoin users to have a good experience based on UTXO.Casey believes that after the improvement, it can reduce the runes that can make a large amount of garbage UTXO phenomenon. It is a better, lighter and simple asset issuance solution than previously experimental BRC -20 protocols. At least, the current popular BRC -20 has created a large number”Garbage” UTXO.
Runes implementation
The balance of the Runes token is directly included in UTXO. If a transaction contains an output, the script Pubkey contains oneOp_return, Later with an ASCII uppercase letterRThe data output contains a protocol message.The runes entering the transaction of the invalid protocol message will be burned, which allows the future upgrade to change the distribution or creation method of runes to avoid the balance of the old client error distribution runes.
transfer
The first data output in the protocol message is decoded to be an integer sequence. This integer sequence will containIDAs well asOutputandAmount3 kinds of information.IDWhich Runes tokens are specified for transfer.Each tokens are allocated when they are createdID,,IDStarting from 1, the earlier the value created, the smaller.OutputDecide to allocate to the output.AmountIndicates the number of transfer.
create
If there is a second data output after the agreement message, the transaction is a transaction for a Runes token.The data output of this part will be decodedSymbolandDecimalsIf there are more other integers, there are more integers.SymbolIt is equivalent to BRC-20’s Ticker, that is, token name, which supports up to 26 bits, and only A-Z can be used with characters.Decimals: Accuracy, determine how many places after the Runes tokens can support decimal points.ifSymbolBefore being used, the Runes tokens will be assigned an ID value. The first “rune” token ID value created by the first created is 1, Bitcoin, BTC and XBT are banned. At the same time, the Runes protocol is still notSupport the creation of token of the same name.
Compared with other agreements
Casey compared the Runes protocol with other existing Bitcoin inscriptions in the blog in the blog::
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Complexity: How complicated is the agreement?Is it easy to implement?Is it easy to be adopted by large -scale?
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User experience: Is there any detail of the implementation details on the user experience?Especially the protocol that depends on the data under the chain.
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Status model: A protocol based on UTXO is more naturally suitable for Bitcoin, and to minimize it by avoiding creating the “junk” UTXO.
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Native currency: The native Token required for protocol operation is cumbersome, and naturally it is not very widely used.
Compared with Bitcoin’s existing token protocol:
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BRC-20: It is not based on UTXO and is quite complicated, because it needs to use the Ordinals protocol for certain operations.
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RGB: Very complicated, relying on the data of the chain, it has been developed for a long time and has not been adopted for a long time.
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Counterparty: It has the original currency required for certain operations, not UTXO.
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Omni Layer: It has some tokens required for some operations, not UTXO.
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Taproot Assets: A bit complicated, relying on the data under the chain.
According to Casey, the Runes protocol is a better and simpler choice to create alternative tokens on the Bitcoin network. In contrast, the BRC-20s tokens are the first to be used on the Bitcoin networkCreate an experimental protocol for alternative tokens.However, the protocol leads to a large number of UTXO and causes network congestion.Unlike other Bitcoin token standards, Runes does not rely on the data of the linked to operate.Instead, a model based on UTXO is used, and UTXO is used to track the balance of Runes.Each transfer transaction is split into different UTXOS, and each UTXO holds a different number of Runes.
Technical characteristics
UTXO model
First of all, the compatibility and scalability of the Runes protocol are excellent, which can be seamlessly connected to the UTXO model of Bitcoin and the two -layer protocols such as Lightning Network and CKB based on this.Compared with other homogeneous token agreements such as BRC-20, Runes has significantly improved the efficiency and user experience through simplified transaction processes and direct tokens binding to UTXO.
Token issuance
Runes provides greater flexibility in the issuance of tokens, allows the length of the token name from 1 to 28 characters, and adopts a variety of innovative issuance mechanisms, including but not limited to the distribution and public inscriptions of fixed amounts.Even considering a more expressive way of distribution.Among them, the fixed total amount is more decentralized, and the issuer directly engraved all Runes and distributed; the open inscription method is based on specific parameters, such as the block height or timestamp.Runes’s final total amount.
In terms of UTXO management, Runes passedOp_returnThe use of scripts avoids the complexity and security risks that the testimony of transactions can bring, reduces unnecessary UTXO generation, thereby improving the overall health and efficiency of the network.The design concept of the Runes protocol is to reduce the “footprint” on the chain and encourage the optimization of UTXO to use, so that it is seamlessly integrated with the infrastructure of Bitcoin.Promote the development and innovation of the Bitcoin ecosystem through a more concise and intuitive way.
User experience
The Runes protocol supports simple payment verification (SPV) wallet, providing users with a lightweight trading experience, which is unrealized by the traditional BRC-20.It also provides developers with a more friendly and easy -to -access development environment by providing reference realization and emphasis on the compatibility of existing bitcoin scripts and address types.And there are some places where there is no detailed exposure or more innovative, we can further analyze after the official version of the Runes protocol is released.
Third, the Runes protocol potential opportunity
At present, there are already many Runes protocol projects in the market, because the formal Runes protocol has not yet been released. In a strict sense, there is no runes of Runes. Many of them are released in the form of Bitcoin NFT.After the version of the protocol is launched, it will be distributed through the airdrop or 1: 1 exchange.Here are some early items expected to use the Runes protocol.
RSIC
In short, RSIC uses the pre -mining mechanism, and it can not be cast until the Runes protocol goes online.There are four reward distribution methods of RSIC, including fixed rewards, enhanced rewards, random rewards and halving rewards.During the distribution, the inscriptions of father and son, Metaprotocol field, recursive inscriptions and other technologies were used.This project is the most abundant gameplay and the technology used is also very powerful, increasing playability.And different RSICs are different, increasing randomness.According to the mining mechanism, holding RSIC will be dug to the Runes runes issued by the project party in the future. After the Runes protocol is officially launched, according to the number of pre -mining, the project party pays the Runes runes issued by himself to these pre -digging addresses.Twitter@wutnerThe RSIC_DATA table is made to calculate the number of mining, the link is as follows:> 308398888″ “>https://docs.google.com/spreadsheets/d/1xlas5-xs5achzkcf_scw8m1kl2sDevk4sgg/edit?pli=3083988888
Runestone
After RSIC, the project that has received much attention is RuneStone, all of which are pre -mining forms.Order.ioFounder@LeonidasnftThe dominant release, its airdrop rules are simple and open and transparent, that is, at the height of 826,600 blocks, the Bitcoin wallet needs to hold 3 inscriptions, but to remove the inscriptions of the text and JSON format, such as the inscription of the BRC-20 is notCount.
The rune guardians
The total amount of The Rune Guardians has 10,000, and different attributes will have different effects on mining.It is worth mentioning that the project will become a real PFP series when Bitcoin is halved.The Rune Guardians gameplay is similar to RSIC. The airdropping of the Ordinals blue chip NFT holder, the project party bear all GAS costs.
Rune alpha
Rune Alpha is an early practical project based on the Runes protocol. The experimental platform was released in advance. At the beginning, it provided a launch method based on the limited time of the block height, and launched the PSBTS -based trading market for the first time.At the same time, RuneAlpha’s Dragon One Generation currency $ Cook will be seamlessly migrated with a perfect ratio of 1: 1 after the Runes protocol is launched. At the same time, it will also announce the latest airdrop plan and announced the roadmap, which contains a lot of future construction direction about runes.
Unicross
$ RUFI is the first rune token on @Merlinlayer2. It can convert the BRC-20 into runes by a 1: 1 ratio.Unicross is committed to supporting Runes Asset casting and protocol index.The tokens were fairly launched, of which 25 % provided airdrops to the Merlin chain users, and the remaining MINT stage was undergoing the MINT stage.
Method of participation
At present, there are many other Runes concept projects. We only have some highly popular projects. At the same time, the founder Casey also decided to deploy No. 0-9 tokens some time ago. The specific name is still concentrating to the community.And when Runes just launched, the length of all token names is from 12 and above, and the length of tokens within 12 bits will gradually be released, so that the needy project party can pay a shorter tokens.So after the official launch, you can participate in the following ways:
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Directly Mint is the top 10 tokes deployed by the Casey team.Due to the relatively complete infrastructure of Ordinals, there are many on behalf of the tools. Those who have conditions can also synchronize the Ordinals full node in advance to participate.
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Hold the NFT or other vouchers of the pre -mining items mentioned above. After the project party deploys the corresponding tokens on the Runes protocol, it directly obtains the corresponding airdrop or 1: 1 exchange to the tokens.
4. Introduction to the RuneSTONE project
Among the recent RUNE protocols related projects, the most topical is RuneStone Ruishi. On March 9 this year, a 3.97MB size, so far the largest Ordinals inscription RUNESTONE successfully auctioned at the price of 8 BTC.The founder@Leonidasnft(Ordinals OG is also at the same timeOrder.ioThe founder) said that the auction of all income, together with the 2.25 bitcoin previously funded by Twitter, will be used to pay the RuneSTONE airdrop plan.One of the Ordinals airdrop projects also makes the Bitcoin community worldwide look forward to the upcoming Runes agreement.
When Leonidas initially proposed the idea of this airdrop, Casey also commented below to discuss how to reduce GAS consumption.The name is also a tweet from Casey. At that time, Casey stated that the functional implementation of the next term Runestone was developing the Runes protocol.BUFF, which belongs to the Meme attribute and the soft support of the founder.
Another important factor in the RuneSTONE project is that it has excavated the largest block on the Bitcoin blockchain, thanks to@ordinalsbotand@MarathondhCooperation.That is, Runesstone, which was introduced earlier with the 8 BTC auction transaction, left its own mark on the Block 832947: the largest bit currency block, the largest Bitcoin transaction ever in history, and the largest Ordinals inscription ever in history.The miners’ fees for the auction income to pay the airdrop also reflect the promise of the RuneStone project party to the entire community.
An important reason for its own inscription ecology to develop so quickly is fairness, while RuneStone has superimposed the “fair” characteristics from the airdrop.It can also be seen in FOMO’s emotions. At the same time, different from the previous inscriptions, Runesstone has the consensus of users in Chinese and Western communities, and the previous BRC-20 inscriptions are more in the Chinese area. Leonidas also posted a tweet in Chinese: “RuneStone has become the role of the East and West Bridge, which is really noticeable.RuneStone’s achievements today cannot be achieved. “
At present, more than a dozen projects have carried out airdrops of RuneStone’s holders. Runesstone is known as the characteristics of a new round of rune ecological gold shovel.Twitter@0xquqiMake a very full table to record the summary information of the Rune Stone airdrop, the link is as follows:https://docs.google.com/spreadsheets/d/1F27VFEZLJTVUPGX5YYXEOWFHDDVF4KOSA5M0_5m/edit#gid=0.Remind everyone: High -quality projects will directly issue airdrops, link wallets or those who need to be authorized to signature must be carefully identified.
5. Future Outlook
Whether it is RuneStone or other Rune protocols, other projects have recently attracted widespread attention from China and the West. It not only shows the new technical potential of Ordinals, but also reflects the entire market’s expectations for this rune agreement.Bitcoin is halved and the launch of the new agreement will turn on a new round of Bitcoin ecological sector rotation. Can the third wave of inscriptions that everyone have been looking forward to come by?Let us all wait and see!
