Bitcoin Wallet Xverse To Support Runes Protocol Ahead of Halving

Xverse, a leading Bitcoin wallet, has announced that it will support the upcoming Runes protocol, a new standard for fungible tokens on Bitcoin. 

RUNES TESTNET IS LIVE ▣

Today Xverse is launching the first-ever wallet support for Runes on testnet!

▣ Track Runes token balance
▣ Send & Receive Runes
▣ Test Runes apps (soon)
▣ & much more coming soon! pic.twitter.com/EPmATIxQgL

— Xverse – Bitcoin Wallet for Web3 (@XverseApp) March 14, 2024

Xverse has added testnet support for Runes, allowing users to interact with Runes tokens and apps on testnet. The wallet will support Runes on mainnet as soon as the protocol is deployed.

Runes, developed by Ordinals protocol creator Casey Rodarmor, aims to provide a more efficient way to mint and transact fungible tokens on Bitcoin. 

The protocol is set to launch on Bitcoin’s mainnet alongside the halving event in April.

See Also: Crypto.com Fined $3.1 Million for Non-Compliance in the Netherlands

“We’re very excited to be the first wallet that offers full support for the highly anticipated Runes protocol,” said Xverse founder and CEO Ken Liao. 

“With this testnet support launch, builders can start testing their Runes apps and seed the growth of a new Bitcoin layer-1 ecosystem.”

The BRC-20 token standard, which is built on top of the Ordinals protocol, has gained significant traction in the past year. 

However, it has faced challenges such as network congestion and inconsistencies between token indexers. 

Runes, on the other hand, claims to offer a more efficient and elegant solution. The protocol does not require an indexer and is designed to be more scalable than BRC-20.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

The post Bitcoin Wallet Xverse To Support Runes Protocol Ahead of Halving appeared first on BitcoinWorld.