Bitcoin Miners See Windfall After Launch of Runes Protocol Causes Record Transaction Fees

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Cointime2024/04/22 00:31

By:Cointime

The recent "halving" of Bitcoin was expected to lead to a decrease in revenue for crypto miners, but the launch of Casey Rodarmor's Runes protocol caused network congestion and record-high transaction fees, resulting in a windfall for Bitcoin miners. On the day of the halving and Runes launch, total revenue for Bitcoin miners reached a record $107.8 million. The success of Runes could benefit major Bitcoin mining firms, as it allows for the creation of digital tokens on the Bitcoin blockchain. Experts predict that as Bitcoin becomes a $10 trillion+ asset, the industry will undergo significant changes, and the impact of the halving on miner revenue may be lessened if transaction fees remain high.

Bitcoin Miners See Windfall After Launch of Runes Protocol Causes Record Transaction Fees image 0

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