Now you can create tokens on high of Bitcoin, with out congesting the community, due to the ‘Rune’ protocol.
Will not this flood the Bitcoin community with meme cash?? Yep! And together with it can come vital transaction charge income, developer consideration, and new customers to Bitcoin.
Its the identical performance has attracted thousands and thousands of customers/builders to Ethereum over the previous 7 or so years.
You recognize how one can create your individual crypto token utilizing the Ethereum community?
(Severely, it is kinda scary how simple it’s).
Yeah, properly, now somebody (Casey Rodarmor) has introduced that very same performance to Bitcoin.
(If that identify sounds acquainted, Casey can also 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??
Nicely, 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 ability to usher in vital transaction charge income, developer consideration, and new customers to Bitcoin.
(Its the identical performance has attracted thousands and thousands of customers/builders to Ethereum over the previous 7 or so years).
So after cautious consideration, he primarily determined to combat hearth with hearth…
Or on this case, Ethereum-based meme cash with Bitcoin-based meme cash.
Now, here is the twist:
The flexibility to create Bitcon-based tokens already exists, due to the ‘BRC-20 protocol,’ which has prompted 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.