Runes Protocol Helps Sustain Bitcoin Mining Industry, But There’s A Catch
Runes Protocol is indeed said to be beneficial in helping sustain the Bitcoin mining industry by providing efficiency and profitability. It does so by utilizing a Proof of Stake (PoS) concept, where block validators are chosen based on the number of tokens a person holds or is willing to "stake" for the process, instead of Proof of Work (PoW) used in traditional Bitcoin mining, which requires massive computational power and thus enormous energy consumption.
However, the catch lies therein that in order to participate in the PoS system, an individual must first own the native tokens of the protocol. This may cause centralization issues, where the majority of decisions would be made by a small group of people who own the most coins. It also poses issues for beginners who want to start from scratch and do not have the required start-up capital for purchasing tokens upfront. So, while Runes Protocol may indeed help sustain the Bitcoin mining industry, it may potentially favor those with larger financial capabilities and limit the entrance of newcomers.