Why has there been a sharp increase in the cost of transaction fees on the bitcoin network after the halving? Why couldn’t they be kept at a medium level?
After the halving event, transaction fees went up sharply. They increased after the launch of a new standard of fungible tokens – Runes. The new standard was presented as a more efficient way to execute blockchain transactions.
Miners who perform transactions opt for transactions with higher fees because it will interest them more. For this reason, competition to enable high-fee transactions has driven bitcoin fees higher.
Thus, the high fees that may be associated with new tokens and their impact on the bitcoin network may prove to be an additional source of income for miners after the halving, due to which the rewards have decreased.
The situation is most likely temporary, and over time everything will return to normal when the fashion for the new standard passes and transaction fees become stable again.