Bitcoin, the largest cryptocurrency by market capitalization and trading volume, sets another record with Block 788695 as transactions on its blockchain network spiral out of control. Recently, there has been an alarming rise in user transactions on the Bitcoin blockchain, leading to network traffic and congestion. This has increased miner profitability significantly as transaction fees skyrocket to control the situation. In an interesting development witnessed by the crypto community yesterday, miners were seen to have profited highly as transaction fees contained in Block 788695 surpassed the block subsidy. This will be the second occurrence for the Bitcoin network where transaction fees contained in a block are greater than the block subsidy. Related Reading: BRC-20 Token Standard A Hotspot For New Memecoins As PEPE Soars Bitcoin Block 788695 Sets Another Record According to Bitcoin mining data reports from Mempool, transaction fees contained in Block 788695 were seen to be greater than the Block subsidy. The reports show that 6.7 BTC in transaction fees were contained in Block 788695, greater than the 6.25 BTC block subsidy. The last time this occurred was in 2017 when tr ..
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