Runes have been all over the timeline, especially with news about several protocol launches in April 2024. There has been so much hype about how Rune protocols will print hard in April.
In this article, you will learn about the opportunities in the Rune protocol.
What is the Rune Protocol?
Bitcoin has implemented many innovative protocols lately, and Rune is no exception. There are several ways to create fungible tokens, but the Rune protocol is the new standard for creating fungible tokens on the Bitcoin network or Blockchain. Rune is much better than the existing standards, and it is ready to launch in April 2024.
Rune Protocol will be live soon. Let's learn what #Rune Protocol is! pic.twitter.com/75N1vcolVM
— SuperEx (@SuperExet) April 16, 2024
The Bitcoin Blockchain is all about discovering problems and preferring solutions to them. So, what led to the creation of Runes? The BRC-20 token experiences network congestion due to processing many transactions. Rune addresses this issue.
One thing is common about Protocols: they work with the use of native tokens, but that’s not the case for Runes. Runes protocol functions with Bitcoin’s UTXO, which aids in reducing network congestion.
Many Projects are building on the Runes protocol with tokens you can trade and use to make life-changing money, but before that, let’s look at Bitcoin UTXO.
UTXO (Unspent Transaction Output)
In the Bitcoin Blockchain, UTXOs record transactions. They reflect the output of transactions not spent and are helpful as input for future transactions.
You need UTXO to carry out transactions in Rune protocols, and there is a limit to it. If you do not have enough UTXO, your transactions will not be successful, and you might miss opportunities to make money. To prevent this, you have to follow some procedures:
- Set up your wallet
- Go to Unisat.
- Download the Unisat wallet and choose Taproot. The Unisat wallet lets you receive ordinals and Bitcoin on the blockchain network.
Key features on UniSat for Runes:
🔸UniSat Wallet for Runes
🔸UniSat Inscribe for Runes
🔸UniSat Marketplace for Runes📍The testnet support for Runes is scheduled to launch on April 16th.
📍The mainnet support for Runes is scheduled to launch on… pic.twitter.com/H5vTkuFFK5— UniSat – Inscribe your dream. (@unisat_wallet) April 14, 2024
Afterward, you can deposit funds to your wallet from any exchange. Now that you have set up your wallet let’s discuss how to increase your UTXO limit. It’s easy work.
How to Increase UTXO limit
One thing you should know about UTXO is that not paying attention to it can lead to missed opportunities. You need UTXO for your transaction to be successful. In that manner, let’s consider how to increase the limit.
- Go to Magisat and connect your wallet to it.
- Select a large UTXO and split it.
There you have it; you have increased your UTXO limit. Everybody complains about Ethereum gas fees; how about BTC gas fees? BTC gas fee is high. Your best bet is to check gas fees before making a transaction. Do this this way:
- Go to its mempool to check gas prices while minting NFT.
By checking gas prices, you’ll know what you are in for.
The isolation/transfer tools on https://t.co/qtRili036B , and the way the profile is created empower users to manipulate their utxos with ease.
What you see in your profile are your wallet's actual UTXOs and you can split/combine them with ease. 🔧https://t.co/CRVbIPDCGE pic.twitter.com/VpOpebPczT
— Magisat (@Magisat_io) April 11, 2024
Rune Projects with Potential for Massive Return
Crypto enthusiasts and investors are anticipating Rune’s launch in April. Let’s look at one of these rune projects set to launch.
- RuneX
Here is an opportunity to make money. You can start farming RuneX. It will launch in April 2024, and you don’t have enough time to farm. Hurry up and start farming RuneX.
With RuneX, you can trade and swap Runes and NFT. How can you earn farming points on RuneX? You need to:
- Go to the RuneX discord channel.
- Follow through with the bot by sending it messages.
- You go ahead and deposit some amount of BTC to the RuneX bot and claim daily points.
FOR UNNAMED HOLDERS: No need to do anything. Your RuneX tokens will be automatically dropped to the holding wallet.
FOR HONOUR FARMERS: You must have your Ord (Runes) Wallet linked to RuneX before the snapshot. Otherwise your earned Runes will be burned.
1/2 pic.twitter.com/aa3hmM2TVS
— RuneX (@RuneX_Tech) April 7, 2024
Easy right? Do you want to withdraw? Holders are wealth generators. If you withdraw too fast, you might miss a price spike after airdrop. That’s one way to make life-changing money. You don’t know what’s in store for you.
Many other Rune protocols have the potential to produce massive returns. All you have to do is go on Twitter, join their discord communities, and stay positioned to print hard. They include Runestone Wizards, Rune Realms, Rune Mania Miner, RuneBox, and ai Rune.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
