Bitcoin miners have found a new source of revenue through the Runes protocol, according to TeraWulf CEO Nazar Khan. This protocol, which facilitates the issuance of fungible tokens on the Bitcoin network, has led to a substantial increase in transaction fees—a welcome development especially after the recent Bitcoin halving event that reduced block rewards from 6.25 to 3.125 BTC. Khan explains that this boost in transaction fees serves as a crucial lifeline, compensating for the reduced block rewards and significantly impacting miners' profitability. With transaction fees constituting about 30% of block rewards post-halving, this change represents almost an extra Bitcoin per block for miners, highlighting the significance of Runes in the current economic landscape of Bitcoin mining.
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