Bitcoin is getting close to having 50,000 pieces of data inscribed onto its blockchain. From creative Bitcoin-themed art to unique audio recordings, the community is embracing the opportunity to inscribe data directly onto the blockchain thanks to the Ordinal protocol.
This allows users to embed things like images and create NFTs (non-fungible tokens) on the Bitcoin blockchain. The excitement around inscriptions has caused a surge in block space usage and temporarily filled up the mempool, which is the holding area for Bitcoin blocks waiting to be added to the blockchain.
With everyone jumping on the inscriptions bandwagon, the demand for block space has skyrocketed and caused transaction fees to go up. This might mean that it takes a bit longer for your transaction to go through. No worries though, if you want your transaction to be processed more quickly, you can adjust the fee. Just a friendly tip from us to you.
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