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Ordinals founder releases Runes documentation and introduces "cenotaphs" upgrade mechanism

Ordinals founder releases Runes documentation and introduces "cenotaphs" upgrade mechanism

CointimeCointime2024/03/28 03:46
By:Cointime

Casey Rodarmor, the founder of Ordinals, released the Runes document on the X platform. Runes allows for the engraving, minting, and transfer of Bitcoin native digital goods.Information on the Rune protocol is called Runestones and is stored in Bitcoin transaction outputs. A transaction can have at most one Runestone, which can engrave a new rune, mint an existing rune, and transfer runes from the transaction input to the output. Transaction outputs can have any number of rune balances.Runestones may be malformed for various reasons, and malformed Runestones are called cenotaphs. Runes input into cenotaph transactions will be destroyed. The minting of coins in transactions with cenotaphs is included in the minting limit, but the minted runes will be burned.Cenotaphs are an upgrade mechanism that allows runes to be given new semantics, thereby changing the way runes are created and transmitted, without misleading clients that have not been upgraded about the location of these runes, as un-upgraded clients will see that these runes have been destroyed.

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