How Bitcoin NFTs Might Accidentally Fix Bitcoin’s Security Budget
There’s a very good probability that ordinal NFTs alone don’t enhance transaction charges. Properly, they might enhance charges, however not in the way in which you would possibly suppose. In any case, they profit from the SegWit knowledge low cost, so theoretically a block stuffed with digital artifacts would truly carry fewer charges than one crammed totally with atypical Bitcoin transactions.
But when sufficient customers begin inscribing ordinal NFTs in order that they severely compete for blockspace with atypical transactions, the customers broadcasting atypical transactions would wish to extend their very own charges for inclusion. On this case, miners would doubtless prioritize as many atypical transactions as attainable, as a result of they’ve a better payment per byte of knowledge they usually can match extra of them right into a block, thus maximizing charges.
So if ordinal NFTs create transaction payment strain, miners will doubtless optimize for greater charges by together with as many atypical, financial transactions as attainable.