TechFlow reports that Fidelity released a one-minute video on YouTube this morning introducing the Bitcoin Runes Protocol, providing a brief overview of the protocol's development history, mechanism, and its impact on the Bitcoin network.
In the video, Fidelity describes the Runes Protocol as a new token standard on Bitcoin, similar to BRC-20, but more efficient by eliminating certain inefficient mechanisms, making it more favorable among users and miners. Although some believe Runes will only be used for meme coins and speculation, it has performed well in Bitcoin transactions.
Fidelity explains that when the Bitcoin network reached block 840,000 on April 19, it triggered the halving event and simultaneously activated the Runes Protocol.
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