The Number of Entities Using Bitcoin to Store Arbitrary Data Has Declined

Posted on April 30, 2022
In Alex Thorn, Bitcoin Blockchain, btc, Galaxy Digital Research, Galaxy Digital Research study, Omni Layer network, OP_Return data, OP_Return transactions, OP_Returns, storing arbitrary data, Technology, transaction cost, Transaction Fees, transaction output, Transactions, Veriblock

The Number of Entities Using Bitcoin to Store Arbitrary Data Has Declined Three years ago there were a lot of discussions concerning data embedded in bitcoin transactions and the block size space consumed by these OP_Return transactions. However, in recent times, the use of OP_Return transactions has dropped a great deal and the trend has lowered network fees to some degree. OP_Return Transaction Domination Slows Significantly Alleviating […]
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