Bitcoin Inscriptions Surpass 60 Million
The integration of the Ordinal Theory protocol, and the consequent use of Inscriptions in the Bitcoin ecosystem, have significantly altered the transaction dynamics over the past year.
Since starting in January 2023, the total number of inscriptions has gone way up, hitting over 60 million. Text data is the main source, going over 50 million. The daily count varies, ranging from over 400,000 to less than 100,000.
From November 2023 to January 2024, more inscriptions led to higher fees for miners. Miners got a total of 3,588 Bitcoin from these inscriptions.
There's a notable increase in the "other" category, suggesting attention. This could include software code, digital signatures, legal documents, or any data users want to permanently put on the blockchainâŠ
