Despite approaching historical highs, on-chain activity in the Bitcoin network has decreased to levels seen in October 2023. The daily number of transactions has dropped to 256,000, with an increase in transactions with minimal fees. For example, a transaction from the developer mononaut was processed for 11 satoshis (about $0.01), which took approximately a month. Experts attribute the decline in activity to the use of private channels like Slipstream, which has drawn criticism from Bitcoin Core developers. They oppose filtering low-fee transactions, emphasizing the importance of decentralization and censorship resistance in the network. In the future, there are plans to remove the data size limit for OP_RETURN, allowing for larger files, such as media, to be published. This initiative has sparked debates within the community regarding potential implications for the security and decentralization of the network.

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