The innovative minds behind Omnity have just announced their latest breakthrough to crypto.news – the integration of Runes. This cutting-edge UTXO-based Bitcoin meta-protocol opens up a whole new world of possibilities, enabling the seamless trading of fungible tokens on the Bitcoin platform.
This game-changing update from Omnity not only reduces network congestion but also paves the way for the evolution of the Bitcoin network into a powerful economic force.
Introducing Omnity – the ultimate solution for seamless token transfers across chains. With the launch of an innovative platform, Runes tokens gain enhanced functionality, allowing for effortless transfers between chains. By introducing a twin token system that guarantees the security and integrity of your Runes assets, no matter which chain they reside on.
“In addition to interoperability, the Omnity development team also has extensive experience in shared security and restaking. You can expect to see some of these features brought to the ICP and Bitcoin community via Omnity to enrich the Bitcoin defi environment in the coming months.”
The Omnity team
The groundbreaking Runes protocol, born from the brilliant mind of Casey Rodarmor, the mastermind behind the revolutionary Ordinals concept. In the dawn of 2023, Rodarmor unleashed this game-changing project, utilizing the powerful Bitcoin UTXO model to revolutionize network tokenization.
Breaking records and making headlines, the Runes protocol has surpassed all expectations with a staggering 2,129 BTC in fees, worth a whopping $135.6 million, just days after its launch.
The buzz around this unprecedented revenue on halving day has sparked speculation that the network is revolutionizing the way miners get paid, relying more on transactional activity than ever before.
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According to CoinShares, fees are expected to make up a significant 15% of overall revenue in the upcoming months. And while that may seem impressive, Omnity claims that on the most lucrative days, that number could skyrocket to a whopping 30%.