New Phase for Bitcoin: Magic Eden Launches Runes Exchange
Date: 2024-04-23 Author: Henry Casey Categories: BUSINESS
Magic Eden, a popular NFT marketplace, has announced the release of a new Bitcoin Runes exchange platform. This service, currently in beta, allows customers to exchange BTC for runes and ordinals using the Magic Eden wallet.
Originally scheduled for April 23, 2024, Magic Eden Runes is now available sooner than expected. This was made possible thanks to the efforts of developers seeking to offer a rune experience during the evolution of Bitcoin.
Safety and Reliability
According to Chief Operating Officer Zedd Yin, runes provide a safer and more reliable system for creating tokens and conducting transactions. By using the UTXO method to store data on-chain, they inherit the Bitcoin security model, which increases security and reduces risk.
NFT and Bitcoin Ecosystem
Since March 2023, Magic Eden has supported Bitcoin Ordinals on its NFT marketplace. The move demonstrates the company's commitment to becoming a one-stop shop for all things Bitcoin and NFTs.
What is NFT?
NFT (Non-Fungible Token) is a digital asset based on blockchain technology that is unique and inimitable. Unlike regular cryptocurrencies, NFTs are single objects, such as works of art or collectibles, that have unique characteristics and owner.
