Data released by SUBFROST, the maintainer of the Bitcoin metaprotocol Alkanes, shows that Alkanes transactions accounted for 61.1% of all Bitcoin transactions during the 90 days from June 23 to Sept. 20, covering block heights 954,917 to 967,918. That works out to about 59.9 million transactions. Over the same period, Alkanes represented 40.3% of block space weight, 94.2% of OP_RETURN bytes, and 13.4% of transaction fee revenue. SUBFROST said the figures come from files it publishes daily under an MIT license, with live charts available at subfrost.io/metrics. The company maintains Alkanes, a Bitcoin metaprotocol built on top of the Runes protocol, and said the project community is almost entirely based in the Asia-Pacific region. SUBFROST also provides full Chinese-language documentation and a Chinese data page, operates the official Chinese Telegram for DIESEL, held seminars in China this year, and had a booth at Bitcoin Asia in Hong Kong. On the technical side, the company said Alkanes does not alter Bitcoin consensus and does not run as a sidechain.
ChainCatcher reported that data released by SUBFROST, the maintainer of the Bitcoin metaprotocol Alkanes, shows Alkanes transactions accounted for 61.1% of all Bitcoin transactions during the 90 days from June 23 to Sept. 20, corresponding to block heights 954,917 to 967,918. That equals about 59.9 million transactions.
Breakdown of the 90-day data
During the same period, Alkanes represented 40.3% of block space weight, 94.2% of OP_RETURN bytes, and 13.4% of transaction fee revenue.
According to the report, the data comes from files that SUBFROST publishes daily under an MIT license. Live charts are available at subfrost.io/metrics.
Project and company details
Alkanes is a Bitcoin metaprotocol built on top of the Runes protocol and is maintained by SUBFROST, a company focused on the U.S. market. The project is led by co-founder Gabe Lee and original protocol author RWP IV.
SUBFROST said its community is almost entirely from the Asia-Pacific region. The company provides full Chinese-language documentation and a Chinese data page, operates the official Chinese Telegram for DIESEL, held seminars in China this year, and set up a booth at Bitcoin Asia in Hong Kong.
Technical design
On the technical side, Alkanes does not change Bitcoin consensus and does not operate as a sidechain. Its contract code uses WebAssembly and is deployed once in witness data. After that, users send function calls through runestones in the Runes format, which are executed by the independent indexer Metashrew. Full nodes only confirm Bitcoin transactions and do not verify Alkanes balances.
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