Runes Update: Insights from Casey Rodarmor
Innovations and Criticisms: Casey Rodarmor, the creator of Ordinal Protocol & the mind behind Runes shared the alpha on The Ordinal Show today. He expressed strong criticisms of the government, Ethereum, and the BRC-20 token standard, summarizing his disdain with, "The government, Ethereum, and BRC-20 all suck." Despite these criticisms, Rodarmor is forging ahead with Runes, aiming to create a unique and decentralized trading experience.
Rune Mechanics and Trading: Rodarmor is still deciding whether to hardcode the first nine Runes, a decision that could shape the future of the project. He introduced "UNCOMMON•GOODS" as the ticker for Rune 0, a non-utility memecoin that he advises against buying. Emphasizing the importance of a fair launch, Rodarmor praised the BRC-20 free mint mechanism for preventing a presale culture, a feature that Runes will adopt. He also warned against pre-Runes projects promising low rune numbers, describing these promises as "tall tells."
Decentralized trading is a key focus for Rodarmor, who revealed his idea for a Runes "gossip" network. This innovative approach aims to facilitate direct trading between users, potentially solving issues like RBF (Replace-By-Fee) and reducing reliance on centralized exchanges.
Bitcoin and the Future: Rodarmor expressed optimism about a Bitcoin upgrade that would enable trustless bridging of Runes to Layer 2 solutions, predicting the introduction of OP_CAT on Bitcoin within a year. He also downplayed concerns about Miner Extractable Value (MEV) for block 840,000, believing that miners are not yet sophisticated enough to exploit it significantly.
Despite the potential for Runes to increase activity on the Bitcoin network, Rodarmor is not worried about network spamming. He argues that Bitcoin's current volatility is a more significant barrier to its use as a currency.
Final Thoughts: In a colorful analogy, Rodarmor described Runes as an "interdimensional casino," suggesting a dynamic and unpredictable ecosystem on the Bitcoin blockchain. He also shared a personal reflection on failure, stating, "Fortunately, the process of committing seppuku has become highly ritualized, so I don't even need to disembowel myself. I just reach for the dagger at which point Raf just decapitates me immediately." Despite the lighthearted tone, this statement underscores Rodarmor's commitment to his work and the seriousness with which he approaches the project.
In conclusion, Rodarmor's interview provided valuable insights into the future of Runes and its impact on the Bitcoin ecosystem. As the project evolves, it will be interesting to see how these ideas come to fruition and shape the landscape of decentralized finance.
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