The Rune Protocol is set to be released soon, with market speculation driving up Bitcoin transaction fees.

According to a report from "The Block," in addition to discussions surrounding the Bitcoin halving itself, the Bitcoin community is also eagerly anticipating the launch of the Runes Protocol, which is expected to go live concurrently with the Bitcoin halving. Recent market speculation on BRC-20 has also driven up transaction fees on the Bitcoin chain.

The Runes Protocol is a novel token protocol proposed by software engineer Casey Rodarmor, its goal is to enable the trading of new tokens on the Bitcoin chain. However, unlike BRC-20, Runes will adopt the Unspent Transaction Output (UTXO) model. Essentially, Runes aims to be a more efficient implementation for token issuance, taking network congestion into account. Given the success of BRC-20, many believe that Runes has the potential to be the next major breakthrough.

This article is from zombit:https://zombit.info/runes-protocol-anticipation-hype-pushes-transaction-fees-on-bitcoin-higher/

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