The industry has always been aware that a time would come when an increase in fees would make Bitcoin transactions hugely impractical. While many assumed the growing cost of transactions would happen with mass adoption, it was the rise of the Ordinals that caused a drastic increase in fees. Inscriptions on the Bitcoin blockchain emerged at the beginning of the year and quickly gained popularity. The Ordinal Inscriptions pushed Bitcoin transactions to their all-time high in 2023, with the network seeing over 682,000 transactions in a day. Such a sharp spike in transactions has naturally led to an increase in memory usage.
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