Runes Protocol, a new fungible token standard launched by the creator of Bitcoin Ordinals protocol, debuted on April 20, the same day as the fourth Bitcoin halving.
Bitcoin network has processed over one billion transactions since network debuted 15 years ago. Transaction 1,000,000,000 was processed in block 842,241 at 9:34 pm UTC on May 5. Much of recorded demand came from Runes Protocol launch at block 840,000. As reported in a previous FXStreet publication, the new standard has recorded significant support, enough to see the Bitcoin network hit a milestone.
Possible ways that Runes Protocol contributed to one billion transactions By enabling off-chain transactions, Runes Protocol helps reduce congestion on the Bitcoin network, allowing more transactions to be processed quickly and cost-effectively. This scalability solution contributes to the overall growth and adoption of Bitcoin by providing a way to handle a higher volume of transactions. In so doing, it helped the network reach the milestone of one billion transactions.
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