Bitcoin Inscriptions nearing 5M: miner’s future earnings amid economic uncertainty
Explore the surge in blockchain inscriptions and consider the implications this trend will have for miners' revenue.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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?
