Runes also works with existing Bitcoin infrastructure; it is compatible with the Lightning Network, a Bitcoin Layer 2 which offers users faster and cheaper transactions, potentially giving Runes an advantage over other fungible token protocols on Bitcoin while enhacing Bitcoin's capabilities for handling fungible tokens on its network.
What is bitcoin runes opcode?
The Bitcoin Runes protocol utilizes Bitcoin’s UTXO model and the OP_RETURN opcode to simplify the creation and management of fungible tokens on the Bitcoin network. Some benefits of Bitcoin Runes include increased efficiency and a straightforward approach to creating fungible tokens.
Does bitcoin runes have a specific token?
The Bitcoin Runes protocol does not have its own specific token. Also, it is not to be confused with THORChain's RUNE ( RUNE) token, which is a separate, distinct cryptocurrency used within the THORChain ecosystem.
