Funbit Network

One-stop hub for trading and creating #BRC20 #RUNE #DN404 and #inscriptions. Explore Ordinals & NFTs on Funbit Web3 Marketplace. Together beats with Funbit!

[Funbit Network @funbitnetwork]

Funbit Ecosystem:
- Funbit Network: Ordinals hub & NFT Marketplace.
- Funbit Exchange: Trusted exchange, multichain CEX.
- Funbit Casino: Best trust crypto casino multichain.
- Funbit Launchpad
- Funbit Coin Sniper & Voting

EVM token: #FBX
BRC20 token: $FUNS
RUNE token: $FUNS

[Funbit Network @funbitnetwork]

Funbit Team will join VC Night Party, an additional event aimed at creating networking opportunities between Web3 projects and VCs interested in the Web3 industry to explore investment opportunities, will delve into BTCFi topics while offering a delightful dinner experience.

[The Future of BTCFi @fobtcf]

🔥 UPDATE SPEAKER IN LAYEREDGE'S EVENT 🔥

💫Hot News: @funbitnetwork , CEO - Mr. Hung Nguyen has officially joined LayerEdge's event series, promising valuable insights into the future of Bitcoin Layer2!

Don't Miss the Opportunity:

- Learn from a top expert
- Stay updated on the latest market trends
- Discover the potential of Bitcoin Layer2.

See you at the event!

#gmvn2024 #layeredge #funbitnetwork #thefutureofbtcfi

[Funbit Network @funbitnetwork]

Funbit Network will be

TOP PLACE TO MINT BRC20 & RUNE
TOP NFT MARKETPLACE FOR BITCOIN
TOP NFT MARKETPLACE FOR BRC20, RUNE

A #blur NFT Marketplace but in Bitcoin!

#funbitnetwork #funbitNFTMarketplace

[Funbit Network @funbitnetwork]

In 404s (ERC404 & DN404), #ARTERIX is still on top 1 leaderboard DN404, #PANDORA top 1 in erc404.
Funbit Network will support DN404 & ERC404 NFT in our own marketplace.

First project: #COVENANT NFT Boxes & Launchpad
Advisor: Mr.Harrison founder of #DN404 & Funbit Network.

Official channel: https://t.co/FRo1Y0bwxE
Covenant is a community-based fundraising platform designed to empower builders for the long term in the dynamic and ever-evolving Web3 landscape. The platform provides builders with the tools and support needed to turn their ambitious projects into reality.

[Funbit Network @funbitnetwork]

Top 10 #BRC20 Ranking (17 Mar):

1. ORDI
2. Wojak
3. Piza
4. Pepe
5. Sats
6. Rats
...
FUNS, FUBI, $FBX will soon be on the top list.

#funbitnetwork #brc20Inscribe #runes

[Funbit Network @funbitnetwork]

Want to create a new #brc20 token: use #funbitnetwork inscribe services.
Have a #brc20 token: trade it on #funbit brc20 marketplace.
Have brc20 #NFT: upload them to #funbit NFT& web3 marketplace.

Join & Earn today on rich web3 ecosystem: FUNBIT NETWORK!

Funbit Network Inscription & web3 marketplace Grand Opening on 23 Mar 2024.

[Funbit Network @funbitnetwork]

Bitcoin Runes: A Revolutionary Fungible Token Protocol

Bitcoin - Ordinals - BRC20 - RUNE

Bitcoin Runes, a novel fungible token protocol, has recently made its mark in the Bitcoin ecosystem, promising simplicity and efficiency. In this comprehensive guide, we delve into the essence of Bitcoin Runes, explore the distinctions from BRC-20 tokens, and provide insights on securely storing them in your Xverse Runes wallet.

Understanding Runes in Bitcoin
Runes represent fungible tokens directly issued on the Bitcoin network through the Runes protocol. Proposed by Ordinals creator Casey Rodarmor in September 2023, this protocol aims to offer a streamlined alternative to the experimental BRC-20 standard for fungible tokens.

BRC-20 tokens gained popularity after their launch in March 2023 by the pseudonymous developer Domo, reaching a market cap of $1 billion within three months. However, the increased production of "junk" UTXOs led to network congestion. Rodarmor's solution involves a UTXO-based protocol designed to prevent the generation of unnecessary UTXOs and enhance network efficiency.

Unlike other fungible token protocols for Bitcoin, Runes operate without the need for off-chain data or a native token. This distinguishes Runes from protocols like the Taproot Assets Protocol, which uses UTXOs but stores asset metadata off-chain, and Counterparty, which requires a native token for certain operations and is not UTXO-based.

The Runes protocol received enthusiastic support from the Bitcoin community, leading to the issuance of the first Rune token, $RUNE, on the same day as Rodarmor's announcement. BTC Frontier Fund's Trevor Owens also offered a $100,000 grant to the first team creating a working Runes indexer, issuance, or transfer application. Luminex subsequently introduced a Runes issuance tool, allowing users to create and issue their own Rune tokens.

However, it's important to note that the specifications for the token standard were not finalized, as Rodarmor clarified while actively working on an indexer shortly after the initial announcement.

How Does the Runes Token Standard Function?
Let's delve into the workings of the Runes protocol, focusing on token issuance, transfer mechanisms, and data storage.

Token Issuance and Transfer
Creating a new Rune token begins with an issuance transaction, where symbols, token supply, and decimals are defined. The token supply is assigned to a specific UTXO, allowing it to contain any quantity of Runes. The UTXOs efficiently manage Rune token balances. Transfers involve splitting a UTXO into new UTXOs holding various amounts of Runes for recipients.

Data Storage
Ordinal inscriptions are created by embedding content such as images, audio, and HTML files into the OP_RETURN section of a Bitcoin transaction. This stands in contrast to other protocols, like Ordinals, which store data in the witness part of a transaction.

Runes vs. BRC-20 Tokens: A Comparative Analysis
Now, let's compare the features of Runes with BRC-20 tokens.

The Evolution of Fungible Tokens on Bitcoin
The growth of fungible tokens on Bitcoin has accelerated since the introduction of the Ordinals protocol in 2023. Ordinal Theory, which involves numbering satoshis (sats) based on their mining order, initially facilitated the creation of non-fungible tokens (NFTs) directly on the Bitcoin blockchain.

Following the popularity of Ordinal inscriptions in early 2023, the BRC-20 token standard was launched in March. Although it brought fungible tokens to Bitcoin, its inefficiencies, such as the requirement to mint an NFT to create a BRC-20 token, led to the introduction of the ORC-20 token standard a month later to address these issues.

With the emergence of the Runes protocol, the process of issuing fungible tokens on Bitcoin is becoming more refined, showcasing developers' dedication to finding optimal solutions with minimal adverse effects on the Bitcoin base layer.

#funbitnetwork #brc20 #runes #ordinals #funs #fbx

[Funbit Network @funbitnetwork]

Free 0.005tBTC for anyone on #funbitnetwork
Try test #inscribeBRC20 on Funbit now ready.

#nftweb3marketplace #brc20 #rune #funbit

[Funbit Network @funbitnetwork]

How to list a #brc20 #rune token to #funbit marketplace for sale.

You can:
- Choose one or more of your available #brc20 tokens.
- Set the price you want.
- Sign and list them on our marketplace.

#funbitnetwork #funbitInscription #funbitWeb3NftMarketplace

[Funbit Network @funbitnetwork]

2024 is the year of #brc20 #rune #erc404 #dn404 #funbit

[Funbit Network @funbitnetwork]

After minting a #brc20 token/nft, your token will show and be tradable on Funbit #brc20marketpace.

#Rune be the same.

Each token/nft has its own page to show all information, OTC trade, and track orders/transactions.

Try to use testnet #brc20Inscription at funbit .network.

[Funbit Network @funbitnetwork]

It's going to be a week of BRC20: #ordi #sats #rats #funs #funbitnetwork #funbitcasino

Let's go!

[Funbit Network @funbitnetwork]

One week of experience inscribe #BRC20 testnet at https://funbit .network (remove space).
Use Unisat wallet for testing.
Wallet supported: Unisat, OKX, Bitget, Xverse.

If you need BTC testnet, drop your tBTC wallet here.

[Funbit Network @funbitnetwork]

#BRC20 mint guide on #FunbitNetwork, 4 steps:
1. Choose any Inscribe format (BRC-20, Files, Names, Text).
2. Choose one of 3 fee types.
3. Payment section: select Pay with Wallet.
4. Action confirm & wait for the transaction to be completed in the wallet (About 10 minutes).

[Funbit Network @funbitnetwork]

@Sirdiq_ 🥰

[Funbit Network @funbitnetwork]

@elantracey 🥰🥰

[Funbit Network @funbitnetwork]

@_walcliff Great connecting

[Funbit Network @funbitnetwork]

#RUNE will be added to #FunbitNetwork soon on Mar, 24. After that, anyone can inscribe both Rune & BRC20.

We target building a full inscription & NFT marketplace ecosystem based on Bitcoin, evm.

#vote_rune_on_funbitnetwork

[Funbit Network @funbitnetwork]

Funbit Network is designed to build an inscription protocol on #BRC20, #DN404, #Aleo. It will integrate indexing, inscribing, trading and a complete set of functions. Supports minting both Bitcoin & EVM Blockchain.