Runes, the new power on Bitcoin: Ordinals and BRC-20 dethroned by historical record


8:00 AM ▪
3
min reading ▪ acc
Fenelon L.

The Runes protocol has seen an average of 150,000 transactions per day since its launch, far surpassing other Bitcoin token benchmarks such as Ordinals. This meteoric rise highlights growing user interest in fungible tokens on the Bitcoin blockchain.

Runes explode on the Bitcoin network

Rapid adoption of the Runes protocol

The Bitcoin blockchain continues to evolve at a breakneck pace. After the successful launch of Ordinals and BRC-20, the new Runes protocol shook up the game by quickly surpassing these established standards.

According to data from Dune Analytics, the average number of daily transactions on the Runes protocol is more than 150,000, with a peak of 753,584 transactions on April 23rd.

This performance largely eclipses BRC-20, which struggles to handle 10,000 transactions per day. Runes, which account for around 40% of Bitcoin transactions, divert attention and liquidity from other cryptocurrencies to the parent blockchain.

Run’s success can be explained by its innovative approach to creating fungible tokens on Bitcoin. By enabling off-chain transactions, Runes reduces congestion on the Bitcoin network while providing faster confirmation times and lower user fees.

A promising future for bitcoin tokens

The rise of runes, BRC-20 and Ordinals demonstrates the meteoric evolution of Bitcoin, which has now moved beyond its original role as a simple store of value. The parent blockchain is becoming a true platform for creative expression and comprehensive financial tools, opening up exciting new perspectives for developers and users.

Although these protocols have been controversial in the past due to concerns about network congestion, they have gradually gained maturity. Each presents distinct strengths and weaknesses, stimulating healthy competition and the continued momentum of innovation within the Bitcoin ecosystem.

Data from social media and investment tools shows growing interest in Runes, with 53,008 interactions for the protocol, compared to 37,169 for BRC-20 and 34,299 for Ordinals, according to data from LunarCrush.

Runes breathe a refreshing breath of fresh air into Bitcoin. With an average of over 150,000 daily transactions, it already exceeds established standards such as BRC-20 and Ordinals.

Maximize your Cointribune experience with our “Read and Earn” program! Earn points for every article you read and get access to exclusive rewards. Register now and start reaping the benefits.

Click here to join “Read and Earn” and turn your cryptocurrency passion into rewards!

Fenelon L. avatar

Fenelon L.

I am passionate about Bitcoin, I love exploring the intricacies of blockchain and cryptocurrency and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

Leave a Comment