Bitcoin core developer Luke Dashjr recently criticized the Runes protocol in a post, suggesting it exploits a fundamental design flaw within the Bitcoin blockchain network. He explained that while Ordinals exploit vulnerabilities within Bitcoin Core, the Runes protocol operates within the existing framework of the network’s design flaws. Ordinals allow for the inscription of data onto satoshis, creating a concept similar to non-fungible tokens (NFTs), while Runes are fungible tokens introduced after Bitcoin’s fourth halving. However, Runes caused major network congestion and a surge in transaction fees following their launch, leading to criticism from Dashjr, who argued that they deviate from Bitcoin’s core principles and contribute to blockchain spam.
In response to his opposition to Runes, Dashjr suggested methods for filtering out transactions related to the protocol, such as adjusting the “datacarriersize” setting in the bitcoin.conf file to zero. While he recommended this action to block Runes’ spam, early indications suggest that miners are not following this advice. Ocean Mining, a decentralized mining pool where Dashjr serves as the CTO, recently mined its first post-halving block, with over 75% of its transactions originating from the Runes protocol. Dashjr stated that many scammy Runes were mined, but they met the policies recommended by OCEAN Mining from the start. He emphasized the differences between Ordinals and Runes, referring to Ordinals as a 9-vector attack that exploits vulnerabilities and Runes as a 5-vector attack that technically follows the rules.
Bitcoin transaction fees experienced 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 on the Bitcoin network ranged from $8 to $10 as of April 21. The surge in total fees the previous day saw Bitcoin record $78.3 million in fees, surpassing Ethereum by over 24 times. The halving block at block height 840,000 included a record-breaking 37.7 Bitcoin (equivalent to $2.4 million) in transaction fees paid to Bitcoin miner ViaBTC. This block consisted of 3,050 transactions, resulting in an average fee of under $800 per user, driven by meme coin enthusiasts and NFT competitors using the Runes protocol.
Dashjr has long criticized both Ordinals and Runes, arguing that they deviate from Bitcoin’s core principles and contribute to blockchain spam. He previously referred to Ordinals as a bug and spearheaded initiatives to address them through bug fixes. However, Runes were introduced on the day of Bitcoin’s fourth halving and caused significant network congestion, leading to high transaction fees. Despite Dashjr’s advice to filter out transactions related to the protocol, miners have not followed suit. The demand for block 840,000 was largely driven by enthusiasts of meme coins and NFTs competing to inscribe and etch rare satoshis using the Runes protocol. The contrasting nature of Ordinals and Runes has sparked debate within the crypto community regarding their impact on the Bitcoin network and adherence to its core principles.
