While we recognize that Bitcoin maxis may initially hesitate to use an Ethereum-based solution, our primary focus is on creating the most robust and efficient marketplace for trading Bitcoin transaction fees," Alkimiya founder and CEO Leo Zhang said.
There may be little doubt about the usefulness of a solution like Alkimiya's: In April, when Casey Rodarmor's Runes protocol for minting fungible tokens atop Bitcoin went live, the Bitcoin network fee rate shot up to $125 per transaction from $4.80.
Bitcoin "mining companies, facing high operating costs, are increasingly seeking hedging instruments to protect against fee volatility," said Alkimiya.
Bitcoin has users loyal to its native solutions, but Bitcoin lacks Ethereum's programmability, a limitation highlighted by the potential of Alkimiya's tool to hedge transaction fee volatility.
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