High transaction fees and network congestion from the Runes protocol are increasing demand for Bitcoin layer-2 solutions.
The need for Bitcoin layer-2 (L2) solutions has become more apparent than ever following the launch of the Runes protocol.
Runes are a new Bitcoin (BTC) token standard allowing users to create fungible tokens on the Bitcoin blockchain. They were created by Casey Rodarmor, the creator of Ordinals, which enabled Bitcoin nonfungible tokens.
While notable, Runes’ popularity has resulted in astronomical Bitcoin transaction fees and unprecedented network congestion.
