The total count of Bitcoin inscriptions has skyrocketed, with a specific subset - the Text/BRC-20 inscriptions - experiencing an astonishing surge. But what does this mean for the Bitcoin network and its users? Uncover the full story to understand the potentially game-changing catalyst behind this unprecedented phenomenon...
Rising Bitcoin Inscriptions activity signals shift in transaction types Rising Bitcoin Inscriptions activity signals shift in transaction types
A surge in Bitcoin Inscription activity is placing pressure on the network.
3 min read
Updated: Nov. 7, 2023 at 3:32 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ordinals serve as a unique numbering scheme for satoshis, allowing users to track and transfer individual sats.
