Ordinals Documents Its Development: Runes and Upgrade Mechanisms of the "Cenotaph"

Bittime - A significant development for the Ordinals protocol, a system that allows writing data to the Bitcoin blockchain.

Casey Rodarmor, founder of Ordinals, has released official documentation for “Runes”, a core component of the Ordinals protocol.

Runes: Carving and Managing Bitcoin's Native Digital Assets

Runes allow users to “etch,” “mint,” and transfer digital assets directly to the Bitcoin blockchain. This functionality paves the way for a potential ecosystem of Bitcoin-native digital assets.

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Runestones: Store Rune Information

Information related to Runes is stored in the Bitcoin blockchain using a data structure called “Runestones”. Each transaction can only contain one Runestone. This runestone can perform various actions such as:

• Etching a new Rune (creating a new digital asset)
• Minting existing Runes (increases digital asset availability)
• Transferring Runes from one party to another

Malformed Runestone: Introducing the "Cenotaph"

The Ordinals Protocol incorporates a mechanism called a "cenotaph" to deal with damaged Runestones. This can happen for various reasons. When a runestone is deformed, it becomes a cenotaph. The most important:

• Rune Destruction: The runes included in the cenotaph transaction are destroyed.
• Minting Limit Impact: Transactions involving cenotaphs still contribute to the overall minting limit for Rune (potentially limiting the total amount of the digital asset). However, the rune imprint itself was destroyed.

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Mechanism of Improvement Through the Cenotaph

Cenotaph plays an important role as an upgrade mechanism for the Ordinals protocol. They allow the introduction of new functionality or changes to the way Runes are created and transferred without causing confusion for users who have not yet upgraded their Ordinals client. 

Upgraded clients will recognize this change, while non-upgraded clients will simply see the Rune destroyed.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.