Most Bitcoin Inscriptions belong to a single person

We have analyzed all Ordinal Inscriptions created since Bitcoin block 779832, which marks the introduction of the BRC-20 standard. It appears that 80% of all inscriptions created in early-mid May 2023 belong to a single person or entity that controls a single public key, 117f692257b2331233b5705ce9c682be8719ff1b2b64cbca290bd6faeb54423e. Between March 7, 2023, and May 25, 2023, this entity accounted for 64% of all inscriptions. The script does not appear to be produced by the standard ord wallet, as it contains extra ops: OP PUSHBYTES 6 <6 bytes> OP DROP. Since the mined transactions contain valid signatures for this single pubKey, we conclude that all these Inscriptions are controlled by a single private key belonging to an entity that signed all these transactions. In other words, the entity's inscriptions with the PubKey 117f692257b2331233b5705ce9c682be8719ff1b2b64cbca290bd6faeb54423e dominate, accounting for 64% of all inscriptions. To investigate time trends, we plotted the number of inscriptions by this entity versus the total inscriptions per block, revealing that its production was increasing. The total transaction fees spent by this entity to dominate the Inscriptions are estimated to be 1056 BTC as of May 25, 2023.