Six months ago, Casey Rodarmor, the originator of Bitcoin’s Ordinal theory, unveiled the Runes protocol on his blog. He expressed uncertainty about whether developing a new protocol on Bitcoin that enables the creation of fungible tokens was a good idea, but acknowledged that it could potentially generate substantial transaction fee revenue, attract developer interest, and increase Bitcoin’s user base. Fundamentally, the Rune protocol serves exactly this purpose: a token standard built on Bitcoin that facilitates the issuance of fungible tokens, aiming to provide a more streamlined way for users to create them. While some might point out that BTC already has a token standard, the BRC20, developed by Domo, Rune sets itself apart. It adopts the Unspent Transaction Output (UTXO) model, in contrast to the account-based model used by BRC20 tokens.