Over the last few days Bitcoin fees hit 20-month high as miners’ revenues match almost $70k BTC price because of another spike in Ordinals inscriptions. This is good for miners but bad for end users as they pay too high fees for transacting even small amounts between each other. Moreover, based on information from Mempool.space, staggering 350k transactions are still waiting to be confirmed. This is unacceptable when we are talking about world’s biggest blockchain network.

Should we accept Bitcoin as it is, ignore what is happening, and continue paying high transaction fees? or should we stop inscriptions all together and censor some of the features of the Bitcoin network that are causing them? or should we innovate further and simply make Bitcoin more scalable like Ethereum, leaving Ordinals inscriptions to establish their unique purpose within the network?

We believe the answer is that these fee spikes are just a first step to force innovation and strengthen the ongoing development of Layer-2 solutions that are currently being implemented on the biggest cryptocurrency chain. Find out answers for the above questions from our most recent exclusive research reports about projects that already work on scaling Bitcoin to make transactions on the network cheaper and faster without compromising on security. Tokens of these projects have a big potential to appreciate once the teams implement planned upgrades before Bitcoin’s next halving event in April 2024. Stay tuned…