🚨 Bitcoin is much more than just a peer-to-peer electronic cash system.
⛓️💥 Ordinals have quietly turned Bitcoin into a data + token layer Blockchain.
💥📣 NEW JBBA RESEARCH ALERT:
✅ Bitcoin is more than money:
Ordinals inscriptions let users store text, images, code and tokens directly on the base layer – not just move BTC around.
✅ 1 in 3 transactions are inscriptions:
Inscriptions now account for about a third of all Bitcoin transactions. Crucially, “normal” payments didn’t collapse – they stayed broadly stable while total on-chain activity grew.
✅ BRC-20 has taken over:
Roughly 4 out of 5 inscriptions are BRC-20-style fungible tokens, with text and images making up most of the rest.
✅ Ordinals are driving Taproot adoption:
There’s a tight link between inscription activity and Taproot usage – suggesting Ordinals are one of the main real-world drivers of this upgrade.
✅ Blockspace is busier than ever:
Inscriptions used around a quarter of total blockspace in the sample and contributed to the longest sustained period of “full blocks” in Bitcoin’s history, pushing average block size up by almost 50% vs. the pre-Ordinals era.
✅ Fees and miner revenue are up:
Even though inscriptions pay slightly lower fees per byte on average, they still contributed about a fifth of all fees – and their demand for blockspace pushed fees for “normal” transactions higher too. That matters for Bitcoin’s long-term security budget.
✅ It’s not just about the BTC price:
Short-term price moves explain little of inscription activity. Waves of new inscriptions line up more with technical innovation (e.g. BRC-20) than with classic bull/bear cycles.
🚀 This ground-breaking research from Alexander Wiedenmann and Andre Guettler of Ulm University and IWH – Halle Institute for Economic Research – Member of the Leibniz Association explores Bitcoin’s Ordinals and Inscriptions, and BTC's evolving Network state.
📖 Full paper has been published Open Access in The Journal of the British Blockchain Association (#JBBA):
🔗 Read the paper here:
Bitcoin Ordinals and Inscriptions: An Analysis of Bitcoin’s Evolving Network Dynamics | Published in The Journal of The British Blockchain Association
By Alexander Wiedenmann, Andre Guettler. This study explores Bitcoin
✅ Indexed in DOAJ and Web of Science | Read by >2.7 million readers monthly:
Bitcoin Ordinals and Inscriptions: An Analysis of Bitcoin’s Evolving Network Dynamics – DOAJ
Bitcoin Ordinals and inscriptions facilitate the on-chain storage of arbitrary data on the Bitcoin blockchain. In this study, we analyse the impact...
This paper will be featured in the April 2026 print Issue of The JBBA.
JBBA Editor in Chief:
Prof. Dr
@Prof Naseem Naqvi MBE MBE FBBA
#Bitcoin #Blockchain #Network
