Bitcoin core developer Luke Dashjr recently criticized the Runes protocol in a post, suggesting it exploits a fundamental design flaw within the Bitcoin blockchain. He highlighted the differences between Ordinals and Runes in their interactions with the network, noting that Ordinals exploit vulnerabilities while Runes operate within existing design flaws. Ordinals allow for the inscription of data onto satoshis, similar to NFTs, while Runes are fungible tokens introduced after Bitcoin’s fourth halving. However, Runes caused major network congestion and increased transaction fees, leading Dashjr to criticize them for deviating from Bitcoin’s core principles and contributing to spam.
Dashjr has been vocal in his opposition to both asset types, previously referring to Ordinals as a bug and taking initiatives to address them through bug fixes. In response to Runes, he suggested filtering out transactions related to the protocol by adjusting settings in the bitcoin.conf file. However, miners have not followed this advice, with Ocean Mining, where Dashjr serves as CTO, mining its first post-halving block with over 75% of transactions originating from the Runes protocol. Despite this, Dashjr acknowledged that the scammy Runes that were mined met the policies recommended by Ocean Mining and highlighted the difference between Ordinals and Runes in terms of exploiting vulnerabilities and following rules.
Bitcoin transaction fees saw a significant drop just one day after reaching an all-time high average of $128 on April 20, coinciding with the fourth Bitcoin halving. The average fees for medium-priority transactions ranged from $8 to $10 on April 21, down from the previous day’s peak. The surge in total fees led Bitcoin to record $78.3 million in fees, surpassing Ethereum by over 24 times. The halving block at 840,000 included a record-breaking 37.7 Bitcoin in transaction fees paid to miner ViaBTC, with 3,050 transactions and an average fee of under $800 per user. The demand for this block was largely driven by meme coin and NFT enthusiasts looking to inscribe rare satoshis using the Runes protocol.
Dashjr’s criticism of Runes and Ordinals stems from his belief that they deviate from Bitcoin’s core principles and contribute to blockchain spam. He has actively worked to address vulnerabilities and bugs within the Bitcoin Core, previously referring to Ordinals as a bug and spearheading initiatives to fix them. Despite his efforts and recommendations to filter out Runes transactions, miners have not followed suit, leading to network congestion and increased transaction fees. The drop in fees following the halving suggests a shift in user activity and demand on the Bitcoin network, with enthusiasts driving demand for meme coins and NFTs.
In conclusion, Luke Dashjr’s criticism of the Runes protocol reflects his commitment to upholding Bitcoin’s core principles and addressing vulnerabilities within the network. His opposition to both Ordinals and Runes stems from his belief that they contribute to spam and deviate from the intended design of Bitcoin. Despite his efforts to filter out Runes transactions, miners have not followed his recommendations, leading to network congestion and increased fees. The drop in fees following the halving signals a shift in user activity and demand, with meme coin and NFT enthusiasts driving transactions on the network. Dashjr’s continued advocacy for a more secure and efficient Bitcoin network highlights the ongoing challenges and debates within the crypto community.
