With the halving approaching, average fees on the Bitcoin network have climbed to $19.48.
Ph.D
- Fees on the Bitcoin network have increased significantly.
- This increase is due to the upcoming launch of the Runes protocol.
- The Runa protocol aims to improve the efficiency of transactions.
- The experimental BRC-20 PUPS token will be ported to the Runes protocol.
On the brink of a revolution: the Rune protocol and Bitcoin
The Spectacular Increase in Bitcoin Network Fees was recorded recently. According to BitInfoCharts, the average commission reached $19.48 on April 18, an increase of almost $14 since the beginning of the month.
Rune Protocol: an effective alternative
This inflationary trend is probably not trivial. This coincides with announcement of the imminent launch of the Run protocol by Casey Rodarmor. Presented as a simpler alternative to Ordinals protocols, this new system is seen as a solution to network saturation with BRC-20 tokens.
According to Rodarmor, the Runes protocol works autonomously while allowing for more efficient transactions without the need for Ordinals. Several projects have already announced the transition of their tokens to this new standard.
A terrible new idea has just been dropped: Runes.
A worse-is-better fungible token protocol for Bitcoin.https://t.co/TPVrUvWxm8
— Casey (@rodarmor) September 25, 2023
PUPS: the first “meme coin” on the Bitcoin blockchain
Among the last we find PUPPIES, an experimental collection of BRC-20 tokens on the Bitcoin blockchain. With the halving scheduled for April 20th, the developers anticipate transferring this asset to the Runes protocol.
With the ambition to become “the first meme coin on the bitcoin network”. The PUPS token has seen an impressive growth of over 1,200% in one week. The capitalization of this asset, which was launched in January this year, currently stands at $439 million. In addition, the trading volume of PUPS “meme coin” exceeds $5.4 million.
Therefore, the transition of assets to the Runes protocol is proving to be an exciting and defining moment for the future of the Bitcoin network.