As the price of bitcoin creeps back toward $45,000, the cryptocurrency’s network is showing signs of strain. Over 260,000 unconfirmed transactions have piled up in the mempool, slowing transactions and hiking fees.
This congestion has reignited debate around a new Bitcoin innovation called ordinal inscriptions.
Keypoints
- Unconfirmed BTC transactions are rising, causing network congestion and higher fees
- Ordinal inscriptions are adding extra data to transactions, bypassing Bitcoin Core’s size limits
- Luke Dashjr calls inscriptions a “bug” and vulnerability that needs to be fixed
- Others argue inscriptions evolve Bitcoin, encourage experimentation, and benefit miners
- The debate has divided the BTC community amid the recent price rise back toward $45k
Ordinal inscriptions involve adding extra data to Bitcoin transactions by encoding information in the smallest units of BTC, called satoshis. This allows each…
