⭐ Merited by pooya87 (2)
And I can tell you that miners are loving it.
They can get more coins from same resources for mining and they definitely love it.How Ordinals are affecting Bitcoin mempools and transaction size
Inscriptions, Mempools and Miners
Mempool total size increases and becomes larger since February 2023 with appearances of Ordinals, BRC20 tokens.
This newest weekly report from Glassnode Insights proves your theory with real on-chain data.
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Do Inscriptions Impact Miner Incomes?
Naturally, as blockspace demand increases, miner revenues will be positively affected. Whilst the fee spike in May was historically large, it has since cooled off, and both total fees and their relative share of miner income remain relatively low.
Both metrics have lifted above their typical 'bear market' levels; total fees have increased by 216% from ~12 BTC/day to 38 BTC/day, and the the proportion of the miner income from fees has increased from 1% to 4%. Both are meaningful increases, however are still small in an absolute and historical context.
Naturally, as blockspace demand increases, miner revenues will be positively affected. Whilst the fee spike in May was historically large, it has since cooled off, and both total fees and their relative share of miner income remain relatively low.
Both metrics have lifted above their typical 'bear market' levels; total fees have increased by 216% from ~12 BTC/day to 38 BTC/day, and the the proportion of the miner income from fees has increased from 1% to 4%. Both are meaningful increases, however are still small in an absolute and historical context.