 | Hey everyone, I am thrilled to share with you a new On-Chain Analysis Dashboard that I've recently developed. It focuses on examining the effects of the Taproot upgrade on the Bitcoin network. This dashboard lets you investigate the rising popularity of BRC20 tokens and Bitcoin inscriptions since the Taproot upgrade was implemented. You can visually observe the significant changes in transaction patterns, fees, and miner rewards due to these features. One interesting trend the dashboard highlights is the increase in fees from 2.7% to 4.1% of total miner income, thanks to the Taproot functionalities. Although this rise is currently dwarfed by block rewards, it's paving the way for potential growth and significance in the future. Moreover, the dashboard reveals that almost half of all Bitcoin transactions now utilize Taproot functionalities. Even more exciting is that approximately 4.4 million wallets have executed these kinds of transactions! You can access the dashboard using this link: https://flipsidecrypto.xyz/jackguy/taproot-s-effect-on-btc-sustainability-WkbhmY In case you're active on Twitter, I've also broken down this information into a three-part tweet thread. It provides a quick snapshot of what the dashboard offers. Feel free to check out and share the thread here: https://twitter.com/jackthepine/status/1682109898316816390 I am eager to hear your thoughts, feedback, and any insights you might glean from the data. Dive in, explore, and let's discuss! [link] [comments] |
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