比特幣的符文協議徹底改變了區塊鏈上的代幣化

隨著Ordinals 的出現以及預計於2024 年推出的Runes 協議，比特幣原生資產在2023 年取得了重大進步。上的代幣創建和管理。透過利用基於 UTXO 的功能，Runes 尋求優化區塊鏈管理，解決現有代幣標準的低效率問題，並增強用戶體驗。該協議具有增加收入潛力、促進創新以及為代幣發行提供安全穩定平台等優勢。然而，潛在的挑戰包括缺乏針對搶先符號使用的保障措施以及缺乏透明的鑄幣機制。

Bitcoin Runes: A Revolutionary Protocol for Tokenization on the Bitcoin Blockchain

比特幣符文：比特幣區塊鏈上代幣化的革命性協議

Introduction

介紹

The year 2023 marked a watershed moment for Bitcoin-native assets with the emergence of Ordinals, a protocol that enabled the inscription of data and media into Bitcoin transactions. This momentum is poised to continue in 2024 with the introduction of the Runes Protocol, a groundbreaking innovation that streamlines the creation and management of fungible tokens directly on the Bitcoin blockchain.

隨著 Ordinals 的出現，2023 年標誌著比特幣原生資產的分水嶺，Ordinals 是一種能夠將資料和媒體寫入比特幣交易的協議。隨著 Runes 協議的推出，這種勢頭有望在 2024 年繼續下去，這是一項突破性的創新，可以直接在比特幣區塊鏈上簡化可替代代幣的創建和管理。

Understanding Bitcoin Runes

了解比特幣符文

Bitcoin Runes represents a radical departure from existing Bitcoin tokenization standards such as BRC-20. Its primary focus is to address the inefficiency of surplus "junk" UTXOs (Unspent Transaction Outputs), which can congest the network and hinder its scalability.

比特幣符文代表了與 BRC-20 等現有比特幣代幣化標準的徹底背離。其主要重點是解決剩餘「垃圾」UTXO（未使用交易輸出）的低效率問題，這可能會導致網路擁塞並阻礙其可擴展性。

Unlike its predecessors, Runes utilizes a minimalist approach with an optimized on-chain footprint. It leverages the native functionality of Bitcoin to achieve this, reducing blockchain bloat and enhancing the user experience.

與它的前身不同，Runes 採用極簡方法和優化的鏈上足跡。它利用比特幣的原生功能來實現這一目標，減少區塊鏈膨脹並增強用戶體驗。

Operational Principles of the Runes Protocol

Runes 協定的運作原理

Runes operates on a UTXO-based approach, ensuring that each Bitcoin used in transactions is meticulously accounted for. This prevents duplication and maintains the integrity of the currency, addressing the inefficiencies inherent in protocols that rely on off-chain data or additional tokens.

Runes 採用基於 UTXO 的方法運行，確保交易中使用的每個比特幣都經過仔細考慮。這可以防止重複並保持貨幣的完整性，解決依賴鏈下資料或附加代幣的協議固有的低效率問題。

Token creation within the Runes protocol is managed through three primary processes: etching, minting, and transferring. Etching involves defining the token's characteristics, such as its name, divisibility, symbol, and minting caps. Minting, facilitated by the protocol's open-minting mechanism, follows etching. Finally, tokens are transferred through instructions known as edicts, which direct the movement of tokens between parties on the blockchain.

Runes 協議中的代幣創建透過三個主要流程進行管理：蝕刻、鑄造和轉移。蝕刻涉及定義代幣的特徵，例如其名稱、可分割性、符號和鑄幣上限。在協議的開放鑄幣機制的推動下，鑄幣是在蝕刻之後進行的。最後，代幣透過稱為法令的指令進行轉移，該指令指導區塊鏈上各方之間代幣的移動。

Notably, the Runes protocol seamlessly integrates with Bitcoin's OP_RETURN function, allowing data to be recorded on the blockchain without affecting transaction management and maintaining network efficiency.

值得注意的是，Runes 協議與比特幣的 OP_RETURN 功能無縫集成，允許資料記錄在區塊鏈上，而不影響交易管理並保持網路效率。

Benefits of the Runes Protocol

符文協定的好處

The Runes Protocol offers several compelling advantages that are anticipated to contribute to its adoption and success within the Bitcoin ecosystem:

Runes 協議提供了幾個引人注目的優勢，預計將有助於其在比特幣生態系統中的採用和成功：

• Expanded User Base and Revenue Generation: Runes facilitates the issuance of various token types, including security tokens and stablecoins, potentially broadening Bitcoin's appeal and utility. This expansion is not merely theoretical; it is expected to lead to increased transaction volumes and, consequently, enhanced miner revenues, particularly crucial as the mining reward diminishes following the Halving.
• Innovation and Efficient Token Issuance: Runes promotes innovation on the Bitcoin platform, encouraging developers to explore new possibilities within a stable and secure environment. Its well-conceived design addresses the shortcomings of earlier token protocols that relied on off-chain data or native tokens, making it more viable and successful.
• Enhanced Security and Stability: By utilizing UTXOs to store data on chain, Runes inherits Bitcoin's robust security model, offering stronger security features and reducing the risk of security breaches.

Potential Challenges for the Runes Protocol

擴大用戶群和創收：符文促進了各種代幣類型的發行，包括安全代幣和穩定幣，有可能擴大比特幣的吸引力和實用性。這種擴展不僅是理論上的，而且是現實的。預計這將導致交易量增加，從而增加礦工收入，尤其是在減半後採礦獎勵減少的情況下尤為重要。在幣平台上探索新的可能性穩定安全的環境。其精心設計解決了早期代幣協議依賴鏈下數據或原生代幣的缺點，使其更加可行和成功 增強的安全性和穩定性：透過利用UTXO 在鏈上存儲數據，Runes 繼承了比特幣強大的安全模型，提供更強大的安全功能並降低安全漏洞的風險。

While the Runes Protocol promises to revolutionize the Bitcoin ecosystem with its efficient and streamlined approach to tokenization, it is not without potential challenges that could impact its effectiveness and user adoption:

雖然符文協議承諾透過其高效且簡化的代幣化方法徹底改變比特幣生態系統，但它並非沒有可能影響其有效性和用戶採用的潛在挑戰：

• Preemptive Symbol Usage: The Runes protocol currently lacks safeguards against the preemptive occupation of symbols, which act as unique identifiers for digital assets. This absence could lead to early adopters seizing short and valuable symbols, creating a secondary market for essential symbols at premium prices, and potentially limiting accessibility for later entrants seeking to issue tokens under recognizable or brand-specific symbols.
• Limited Transparency in Minting: Unlike the BRC-20 standard, which features a transparent minting mechanism fostering trust among users, Runes does not offer similar visibility. This lack of transparency in the minting process could raise concerns about fairness and security, leading users to hesitate in adopting a system where token generation is concealed, potentially raising doubts about the potential for undue manipulation or favoritism in the distribution of newly created tokens.

Conclusion

搶佔符號使用：符文協議目前缺乏防止搶佔符號的保護措施，符號作為數位資產的唯一識別碼。這種缺席可能會導致早期採用者抓住短暫而有價值的符號，以溢價創建重要符號的二級市場，並可能限制後來進入者尋求以可識別或特定品牌符號發行代幣的機會。有限：與BRC-20 標準具有透明的鑄幣機制，可促進用戶之間的信任，但 Runes 並未提供類似的可見性。鑄造過程缺乏透明度可能會引發對公平性和安全性的擔憂，導致用戶在採用隱藏代幣生成的系統時猶豫不決，從而可能引發人們對新創建代幣分配中是否存在不當操縱或偏袒的懷疑。

The Runes Protocol is a highly anticipated innovation within the Bitcoin ecosystem, offering a transformative approach to tokenization. While it addresses several limitations of existing protocols, it is not without potential challenges. As the protocol develops and matures, it remains to be seen how effectively these challenges will be addressed and whether Runes will fully realize its transformative potential.

Runes 協議是比特幣生態系統中備受期待的創新，提供了一種變革性的代幣化方法。雖然它解決了現有協議的一些限制，但它並非沒有潛在的挑戰。隨著協議的發展和成熟，如何有效地解決這些挑戰以及 Runes 是否會充分發揮其變革潛力還有待觀察。