2023-5-9 13:00 |
Quick Take Inscriptions which is the process of writing data into the blockchain via the Witness portion of a Bitcoin transaction. The total count of Inscriptions is now approaching 5 million; as you can see, it predominately comes from text-based inscriptions. Inscriptions have also generated a cumulative fee of 904 Bitcoin. This benefits miner tremendously, but is this here to stay? If a true recession were to occur, would we still see the demand? Inscriptions: (Source: Glassnode) Cumulative fees: (Source: Glassnode)
The post Bitcoin Inscriptions nearing 5M: miner’s future earnings amid economic uncertainty appeared first on CryptoSlate.
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