Posted 9/27/2023, 5:26:44 AM
Bitcoin Inscriptions Fill Empty Blockspace and Boost Miner Revenue, Analysis Shows
- Inscriptions act as "packing filler", stuffed into remaining blockspace after higher-value TXs
- Little evidence inscriptions displace monetary transfers, as they use low fees
- Inscriptions consume the cheapest available space, readily displaced by urgent transfers
- More inscriptions increase base demand for blockspace and miner revenue
- Hash rate increased 50% since February, resulting in tougher competition for miners