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BTC - Percent Tx Fees BRC-20 (%)
Description
The Bitcoin Percent Transaction Fees BRC-20 shows the percentage of fees used for BRC-20 commit outputs and reveal transactions combined for each time period. Commit output fees are weighted based on the total number of outputs in the transaction. Reveal transaction fees are counted in whole.
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
block.fees := sum(block.tx[].fees)
block.brc_fees := sum(block.brc_reveal_tx[].fees)
for each commit_output in block.brc_reveal_tx[].output[0]:
cm_tx := commit_output.tx
cm_tx_output_count := count(cm_tx.output[])
blockchain[cm_tx.height].tx[cm_tx].brc_fees += cm_tx.fees / count(cm_tx.output[])
for each block in blockchain:
block.brc_fees_perc := (sum(block.tx[].brc_fees) / block.fees) * 100
(x,y) := (block.time, block.brc_fees_perc)
for each hour in blockchain:
hr_brc_fees_perc := avg(blockchain[hr_start:hr_end].brc_fees_perc)
(x,y) := (hour, hr_brc_fees_perc)
for each day in blockchain:
day_brc_fees_perc := avg(blockchain[day_start:day_end].brc_fees_perc)
(x,y) := (day, day_brc_fees_perc)
Technical Info
When a transaction is created, extra Satoshis are voluntarily included by the transactor that miners can claim, called fees. Fees are the incentive for a miner to prioritize one's transaction. They are found by subtracting the value sum of a transaction's outputs from it's inputs.
This metric includes fee data for both the commit output and reveal transaction portions of the inscription process. The reveal transaction fees are included entirely, but since each commit output is often only one of several within the commit transaction, the output's fees must be derived from context. The method chosen here is to assign each commit transaction output an equal share of its transaction's fees. Change outputs and the like within transactions make this imperfect, but hopefully a good approximation.
- Hourly and daily aggregations are derived from block data using average for this metric.
- Hourly data contains occasional gaps; no blocks were generated during these times.
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