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Bitcoin Ordinals Creator Unveils ‘Rune’ Documentation, Here’s What You Need to Know

Casey Rodarmor, creator of the Bitcoin Ordinals protocol has unveiled Runes documentation, indicating a new phase for BTC transactions.

The Characteristics of Bitcoin Runes

The documentation describes the basic characteristics of Runes, such as their names, amount, Cap, minting, burning, and divisibility.

Runes introduces an innovative concept to Bitcoin transactions that permits the etching, minting, and transfer of Bitcoin-native digital commodities on the blockchain. Notably, Runes come into existence through etching. Etching generates a Rune and assigns its properties. Once set, these properties are immutable, even by the etcher.

Every unit of Rune is the same, unlike unique Inscriptions. This feature makes Rune an interchangeable token fit for use in a variety of crypto applications. Runes are identifiable by IDs, which are textually written as BLOCK:TX and comprise the block in which the Bitcoin Rune was etched as well as the index of the etching transaction within that block.

Runes’ functionality is based on the...