比特币的符文协议彻底改变了区块链上的代币化

随着 Ordinals 的出现以及预计于 2024 年推出的 Runes 协议，比特币原生资产在 2023 年取得了重大进步。Bitcoin Runes 在第四次比特币减半事件期间推出，旨在彻底改变比特币区块链上的代币创建和管理。通过利用基于 UTXO 的功能，Runes 寻求优化区块链管理，解决现有代币标准的低效率问题，并增强用户体验。该协议具有增加收入潜力、促进创新以及为代币发行提供安全稳定平台等优势。然而，潜在的挑战包括缺乏针对抢先符号使用的保障措施以及缺乏透明的铸币机制。

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

比特币符文：比特币区块链上代币化的革命性协议

Introduction

介绍

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.

随着 Ordinals 的出现，2023 年标志着比特币原生资产的分水岭，Ordinals 是一种能够将数据和媒体写入比特币交易的协议。随着 Runes 协议的推出，这种势头有望在 2024 年继续下去，这是一项突破性的创新，可以直接在比特币区块链上简化可替代代币的创建和管理。

Understanding Bitcoin Runes

了解比特币符文

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.

比特币符文代表了与 BRC-20 等现有比特币代币化标准的彻底背离。其主要重点是解决剩余“垃圾”UTXO（未使用交易输出）的低效率问题，这可能会导致网络拥塞并阻碍其可扩展性。

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.

与它的前身不同，Runes 采用极简方法和优化的链上足迹。它利用比特币的原生功能来实现这一目标，减少区块链膨胀并增强用户体验。

Operational Principles of the Runes Protocol

Runes 协议的运行原理

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 采用基于 UTXO 的方法运行，确保交易中使用的每个比特币都得到仔细考虑。这可以防止重复并保持货币的完整性，解决依赖链下数据或附加代币的协议固有的低效率问题。

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 协议中的代币创建通过三个主要过程进行管理：蚀刻、铸造和转移。蚀刻涉及定义代币的特征，例如其名称、可分割性、符号和铸币上限。在协议的开放铸币机制的推动下，铸币是在蚀刻之后进行的。最后，代币通过称为法令的指令进行转移，该指令指导区块链上各方之间代币的移动。

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 协议与比特币的 OP_RETURN 功能无缝集成，允许数据记录在区块链上，而不影响交易管理并保持网络效率。

Benefits of the Runes Protocol

符文协议的好处

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

Runes 协议提供了几个引人注目的优势，预计将有助于其在比特币生态系统中的采用和成功：

• 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

扩大用户群和​​创收：符文促进了各种代币类型的发行，包括安全代币和稳定币，有可能扩大比特币的吸引力和实用性。这种扩展不仅是理论上的，而且是现实的。预计这将导致交易量增加，从而增加矿工收入，尤其是在减半后采矿奖励减少的情况下尤为重要。 创新和高效的代币发行：Runes 促进比特币平台上的创新，鼓励开发人员在比特币平台上探索新的可能性稳定安全的环境。其精心设计解决了早期代币协议依赖链下数据或原生代币的缺点，使其更加可行和成功。 增强的安全性和稳定性：通过利用 UTXO 在链上存储数据，Runes 继承了比特币强大的安全模型，提供更强大的安全功能并降低安全漏洞的风险。 Runes 协议的潜在挑战

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:

虽然符文协议承诺通过其高效且简化的代币化方法彻底改变比特币生态系统，但它并非没有可能影响其有效性和用户采用的潜在挑战：

• 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

抢占符号使用：符文协议目前缺乏防止抢占符号的保护措施，符号作为数字资产的唯一标识符。这种缺席可能会导致早期采用者抓住短暂而有价值的符号，以溢价创建重要符号的二级市场，并可能限制后来进入者寻求以可识别或特定品牌符号发行代币的机会。 铸币透明度有限：与BRC-20 标准具有透明的铸币机制，可促进用户之间的信任，但 Runes 不提供类似的可见性。铸造过程缺乏透明度可能会引发对公平性和安全性的担忧，导致用户在采用隐藏代币生成的系统时犹豫不决，从而可能引发人们对新创建代币分配中是否存在不当操纵或偏袒的怀疑。 结论

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 协议是比特币生态系统中备受期待的创新，提供了一种变革性的代币化方法。虽然它解决了现有协议的一些限制，但它并非没有潜在的挑战。随着协议的发展和成熟，如何有效地解决这些挑战以及 Runes 是否会充分发挥其变革潜力还有待观察。