A look into Runes, a new Bitcoin token standard for issuing fungible tokens

The Runes protocol has gained a lot of interest in the Bitcoin community over the past few months. 

Runes is a fungible token standard designed by Casey Rodarmor, the creator of Ordinals. The protocol is designed to be an alternative to BRC-20, an experiment token standard for fungible tokens on Bitcoin.

The BRC-20 standard is built on ordinals, which means it stores information in a Bitcoin transaction’s witness data, in a similar way, runes data is stored in a data storage function called OP_RETURN, Bob Bodily, the founder of Bioniq, told Blockworks.

Read more: Motoko Sentinels gain traction despite ordinal volume decrease post-halving 

“Runes is a very elegant byte-efficient…

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