Sharkchild

How we created history and etched ⚡DECENTRALIZED: Rune #2 First off, we put forward a considerable amount for the culture. For provenance. For the journey. Everything Prometheans represents. No VCs. No exchange funds. No capital raised. Executing this required precise strategic planning, innovative cost-effective blockchain positioning, and a significant premine for airdropping to existing inscription holders. None of this could have been done without our incredible technology partners: @Ordinal_Miners, with the lead developers @MutableTrees & @chip__. // Technical Breakdown // 1) We ensured robust readiness infrastructure-wise by setting up multiple Bitcoin nodes and Ordinal instances. This preparation was crucial for handling the demands of blockchain operations and transaction execution effectively. 2) Rune Specifications: Ticker: ⚡DECENTRALIZED Divisibility: This was set at 2 to allow the rune to be broken down into hundredths, enhancing utility for transactions. Premine: The entire 21 billion units were premined. This was a strategic decision for Prometheans holders. More information to follow. 3) During this process we developed some unique approaches to providing as much flexibility as possible. It was key to have every sat working to pay fees for the etch, and not for pubkey/privkey overhead, so we could manage costs effectively while securing prompt confirmation. 4) The primary technique we developed, 'Replace by Refund', is different than the standard Replace by Fee (RBF). RBF is a technique to increase the fee for a transaction. In order to do this, either more inputs must be added to a transaction or the existing outputs must be reduced leaving more sats for fees. In the case of a Rune etch, this is difficult and adding inputs adds substantial overhead that increases the cost, especially in a high fee environment. Instead, we committed more funds from the beginning, with the option of reducing the refund, which results in a higher fee. You can see this play out in our mainnet testing for TxID: 344186a7552827268dc5a42728094caa4440da1c1c840e8f23bcfc767cea32e9. 5) Broadcasting the Taproot commit transaction early gave us a strategic advantage, allowing for the transaction to be prepared and executed ahead of potential competitors. In summary, we used a unique Replace-by-Refund approach to be able to both adjust fees post-commitment and provide a backup opportunity in case of network congestion to ensure the transaction would not be delayed. The commit transaction broadcast and later confirmed in Block 839,960. The reveal transactions with varying fees were crafted and pre-signed, ready to broadcast once 839,999 was mined. We did all of this to secure provenance and etch a rune that symbolizes what it means to go on a decentralized journey. More information very soon.