Bitcoin Traders Preparing Their Own Nodes for Runes Brace Launch—Why?

Exchange Bitcoin for Runes via command-line interface? For some, setting up a Bitcoin node—which validates transactions and records network activity—can create confusion or concern.

For others, Runes, a protocol, is a technical endeavor that may soon prove useful. Bitcoin-based funnel symbols (such as meme coins) releases new assets on the network.

“A lot of people are scared to run a Bitcoin node,” said Trevor Owens, general partner of Bitcoin Frontier Fund and CEO of Ningalert. Decrypt. “The reality is that running a Bitcoin node to download episodes of ‘How I Met Your Mother' using BitTorre is difficult.”

After launching the NFT-like Ordinals protocol last year, Bitcoin developer Casey Rodermore proposed Runes as a framework for creating fungibles on Bitcoin. Last September.

However, the launch of Runes is expected to coincide with Bitcoin's halving later this week – sometime soon. 4/20– The rate at which new bitcoins are created is halved A pre-planned event.

Some NFT marketplaces such as Multichain Magic Eden support tokens based on Bitcoin BRC-20s And they are. Runes are prepared to support. However, fearing bugs or delays in various marketplaces, Ninjalerts said dozens of community members stepped in to set up their own Bitcoin hub. Basically, it's a fallback to potentially shocking times.

“Hundreds of thousands of people are going to sites that are refreshingly angsty,” Owens said of NFT marketplaces. “And there's no word that everything will go off without a hitch.”

Currently, five paid instructors and one volunteer are dropped in on the Ninjalerts Discord server, guiding people through the intersection every day, Owens said. Hosting sessions in English and Chinese, about 75 Ninjalerts discord server members have participated so far, he added.

The move to set up private Bitcoin nodes to host the Runes launch represents an alignment of values ​​between crypto's so-called dynasties and the need to protect Bitcoin's security, said developer and self-described liberal activist Thomas Skandera. Decrypt. With more nodes on the Bitcoin network, it theoretically becomes more robust.

“More knots means victory, sir,” Skandera said. “Freedom Rises”

Security Implications Franklin Templeton Digital Assets said in a report published Monday that the launch of Runes could help Bitcoin.Closing the gap“Between other networks like Solana and Ethereum – when it becomes a breeding ground for meme coins.

‘Be Constructive'

Over the past 90 days, the number of nodes controlling the Bitcoin network has increased by 15% to 18,600. Bitnodes. Still, Bitcoin's helping hands aren't limited to the Ninjalerts or Ordinals community.

For intrepid Ordinal fans who want to check out the technical documentation on their own, there are also a few guides on YouTube. one descriptiveFor example, it examines the impact of Unspent Transaction Outputs (or UTXOs) on generating Runes. Terminal window.

As YouTuber pazNGMI explains, Runes is unique compared to other Bitcoin-based meme coins like BRC-20s. UTXO is effectively a digital wallet where the profits from trading are stored, and crypto users who want to hold Runes can deposit a mint in the UTXO in-wallet.

“How much should I expect to spend per transaction? The answer is: I have no idea,” pazNGMI said, estimating that Runes transactions could cost users between $90 and $130 worth of Bitcoin.

In addition to helping people set up nodes, Ninjalerts says he plans to teach about Maximum Extractable Value, or MEV, bots next.

Despite the same equipment Suppressed in the past BRC-20sThey can also “rigg” transactions for the trader's benefit. By paying higher fees, bots have a higher chance of getting their transactions processed faster. That can move them onto the list to craft a fresh new Runes token, for example, before they're all taken.

“We want to teach them how to write these simple types of scripts,” Owens said. “I don't think everyone in the world can be a developer, but I think most people can.”

Edited by Andrew Hayward.