Bitcoin Core Developer Claims Runes Protocol Exploits Bitcoin | Hurry Crypton

Bitcoin Core Developer Claims Runes Protocol Exploits Bitcoin Blockchain’s Design Flaw

Runes Protocol: A Thorn in Bitcoin's Side
Bitcoin core developer Luke Dashjr has sounded the alarm on the Runes protocol, arguing that it takes advantage of a fundamental design flaw within the Bitcoin blockchain.

Ordinals vs. Runes: A Clash of Approaches
Dashjr draws attention to the stark contrast between Ordinal Inscriptions and Runes, noting that while Ordinals exploit vulnerabilities, Runes operate within the existing framework of design flaws.

Congestion Woes and Rising Fees
Runes made waves upon their introduction, but not in a good way. The fungible tokens caused significant network congestion, leading to a surge in transaction fees.

Deviation from Core Principles
Dashjr has long been critical of both Ordinals and Runes, seeing them as straying from Bitcoin's core principles and contributing to blockchain spam.

Filtering Out the Runes
To combat the Runes spam, Dashjr suggests adjusting settings in the bitcoin.conf file. However, it seems miners are not heeding this advice, as evidenced by Ocean Mining's recent block dominated by Runes transactions.

Transaction Fees Take a Dive Post-Halving
In a surprising turn of events, Bitcoin transaction fees have plummeted after hitting record highs during the fourth halving. Medium-priority transactions now range from $8 to $10 on average.

From Record-Breaking to Reasonable Fees
The halving block saw an eye-popping $2.4 million in fees paid to ViaBTC, but average fees per user were under $800. Meme coins and NFT enthusiasts flocked to etch their mark on rare satoshis using the Runes protocol.