Why are Bitcoin runes named so strangely?

The Bitcoin halving has passed, and together with this milestone, the new RunesToken protocol is officially launched on the Bitcoin network. Since its launch on April 20, the Runes protocol has created more than eight thousand "etchings" (the preferred term for deployment of RunesToken) on the Bitcoin blockchain, according to data from Luminex, the launch platform for Ordinals and Runes.

Among these new digital assets, a trend has quickly emerged for long and unusually formatted names. Browse this emerging category on trading platforms like Magic Eden to see tokens with tags such as “SYMPATHETIC·PARAMUTUALISM” and “WANKO·MANKO·RUNES”.

Runes' names are usually shown in all caps, which may seem a little strange, but the creators say there's a good reason for it. The Runes protocol has a minimum name length built into it to prevent so-called name squatting. Name squatting, domain squatting, or cybersquatting involves registering a name that is commonly recognized by others as a brand or trademark in order to profit from its recognized value.

However, the creators of Runes don’t see a problem with this.

Why are Bitcoin runes named so strangely?

1. Why use such a long name?

"Brian Laughlan, co-founder of OrdinalsBot, told Decrypt that the name requirements start from longest to shortest. This rule, while a bit strange, also means that no one can rush to register on day one. 'PEPSI'." The minimum number of letters is reduced by one character every 17,500 blocks, creating an ever-changing naming environment.

However, this restriction did not prevent someone from creating a rune called THE•NEW•YORK•TIMES, even though it has no obvious connection to the New York Times.

According to the Ordinal Theory Handbook, the name of the rune must be between 1 and 28 characters. Although the current length limit can only use letters A through Z, names must be unique with or without spaces. This means that things like 'UNCOMMON•GOODS' and 'UNCOMMONGOODS' are treated the same. Additionally, runes cannot use the same sequence of letters as existing runes, even if the spacing is different.

In an episode of the Hell Money Podcast, Bitcoin Ordinal developer Casey Rodarmor explained: “When you create a name for a rune, you reserve that name for it and set the rune. Properties of a rune. The first property a rune can have is its name. The name can be any combination from A to Z, presented in uppercase, and be 1 to 26 characters long. 2. Rune names cannot contain numbers.

He explained: "We chose rules like this for simplicity. If numbers were allowed, it could be confusing, because 0 and O are easily confused, or if Un1C0de characters were allowed, so would Causing confusion because rune names may contain special characters such as emojis. "

He added: "Rune names can also contain spacers such as dots, dots, etc., which are located in the name. between the letters to help with readability. "

Rodarmor gave an example: "If you have created a rune called GOODMORNING, like Good Morning, then others will. You can no longer create GOOD and then add a spacer and then MORNING," he explained. "The spacer is set when the rune is created. It does not change the name of the rune and ensures that each rune name is unique."

3. Debate on naming

Rodarmor recalled: "When I was designing the protocol, the idea of ​​unique names caused some controversy. A lot of people didn't like the concept. Another alternative was to use incomprehensible, unreadable identifiers to identify runes, allowing runes Name Duplication "

In this setting, Rodarmor explained: "You can't say 'buy this rune' and give the name of the rune, you have to say 'buy this rune' and give it. A string of meaningless characters. "

When asked if popular names and brands could be used as rune names, Rodarmor didn't care.

He said: "Some people say it's not good, like Google wants to get the Google Rune, but can't get it because someone else has already got it. First of all, this is not the stock market - I hope one day...someone A madman got a Google Rune and Google couldn't own it. I would love that."

He further pointed out: "If you really don't care about the name of the rune and just want to use a specific name. To reference it, you can get a so-called nameless rune, which automatically generates a name. You can think of this as an implementation detail. "

The document also explains: "The rune is. Produced by carving. Carving creates a rune and sets its properties. Once set, these properties are immutable, even for the carver. "

Rune Protocol was announced by Rodarmor in September and was seen as a way to make tokens fungible on the top blockchains by market capitalization. He pointed out that Rune aims to solve multiple problems caused by last year’s BRC-20Token standard, such as wasted block space.

While some lay observers may think Rune and BRC-20Token are the same, Ken Liao, CEO of Bitcoin wallet Xverse, said the difference between them will change over time. be more obvious.

Liao told Decrypt: "Some people have been pointing out that Rune has the same issues with trading as the BRC-20. But that's mostly because we're basically still in the day one phase right now, and most Rune The trading markets are all copied and pasted directly from their BRC-20 integration and I think we will start to see improvements over time."

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