Ordinals Creator Casey Rodarmor Introduces ‘Runes,’ New Fungible Token Protocol for Bitcoin
Casey Rodarmor, creator of Bitcoin Ordinal inscriptions, introduced a new fungible token protocol named Runes in a blog post
September 25, 2023. Although uncertain if it’s a “good idea,”
Rodarmor believes a robust fungible token protocol could “bring significant transaction fee revenue, developer mindshare, and users to Bitcoin.”
On Monday,
Casey Rodarmor, creator of Bitcoin’s Ordinals, wrote a blog post introducing a new fungible technology protocol named Runes.
In the post’s opening, Rodarmor expressed uncertainty, saying he’s “not sure creating a new fungible token protocol for Bitcoin is a good idea.” He added that fungible tokens are “99.9% scams and memes.” However, he recognizes they’re here to stay and that developing a robust fungible token protocol for
Bitcoin might be advantageous.
“If this protocol had a small onchain footprint and encouraged responsible UTXO management, it might serve as harm reduction compared to existing protocols,” Rodarmor said.
“At least one of which, BRC20, is already quite popular, and has the undesirable consequence of UTXO proliferation.”
