High-priority transactions currently cost $10.44 per data, a significant decrease from last week’s fees. Participants previously had to pay more than $146 for medium-priority transactions and over $170 for high-priority sends. In the last seven days, BTC gained around 2.4%, trading at approximately $66,000.
Casey Rodarmor’s Runes protocol was positioned as a solution to this issue and was planned to launch concurrently with the halving to stimulate on-chain activity. Runes protocol enables users to create UTXO-based fungible assets on BTC’s blockchain, offering another way to initiate decentralized finance (defi) on the world’s largest blockchain. Domo’s idea stemmed from the Ordinal protocol released by Rodarmor.
