Ordinals: Opportunity or Disaster in the Making for the Bitcoin Revolution?

Some musings on Ordinals and the congestion of the Bitcoin network that this induces. And a potential solution ...

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Alert, the Bitcoin Blockchain mempool is full! The number of pending transactions is growing. The time it takes to validate a transaction is becoming far too long.

The Bitcoin network is under a denial of service attack according to some.

It is true that in the last few days, there has been some congestion in the Bitcoin network with more and more transactions pending in the Bitcoin blockchain mempool.

As you know, as the number of pending transactions increases, so do the transaction fees. Indeed, to maximize their chances of having their transactions added by miners to the next block, some users do not hesitate to increase the transaction fees.

Logically, Bitcoin miners will favor the most profitable transactions in terms of fees.

Because beyond the reward of 6.25 BTC (halved for every 210,000 blocks mined) that miners will share, it is the transaction fees that also allow miners to finance their activity of securing the Bitcoin network.