A Basic Guide to Bitcoin Runes
Bitcoin Runes is a protocol for creating and managing fungible tokens on the Bitcoin blockchain, primarily using the UTXO model and the OP_RETURN opcode to record token data.
Basic Concepts and How It Works
Bitcoin Runes does not rely on the Ordinals protocol, but instead uses Bitcoin's native UTXO model and the OP_RETURN opcode. Each UTXO can carry a different quantity or type of Rune; transactions use OP_RETURN to record data such as the name, symbol,ID and operational instructions.
Etching and Minting Process
Creating a Rune is called etching, which requires setting parameters such as the name, symbol, supply, and divisibility, and can also include a premine. Once etching is complete, Runes can be minted through open or closed minting: the former generally allows anyone to participate, while the latter requires predefined conditions to be met.
and BRC-20 and Potential Advantages
Runes are based on UTXO; during transfers, new OP_RETURN are created according to UTXO；BRC-20 relies on Ordinals and inscriptions. Evidence indicates that Runes use less data space and can reduce unspendable UTXO, thereby helping simplify token management and reduce network load.
Original Tutorial
https://www.binance.com/zh-CN/academy/articles/what-are-bitcoin-runes
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