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Monday, May 22, 2017

Bitcoin Transaction Fees Decrease by 34% With Reduction in Backlog

Bitcoin Transaction Fees Decrease by 34% With Reduction in Backlog

From a recommended 450 satoshis per byte, figures this week have fallen to just 300 according to unnamed sources quoted by crypto angel investor Alistair Milne.

Data from 21.co meanwhile also confirms a fall in the “fastest and cheapest” transaction fee, albeit not as drastic, current figures quoting 390 satoshis per byte versus a previous 450.

Milne added the proviso that the discount was in fact volatility, a characteristic detrimental to the Bitcoin network which would be solved by Layer 2 tech, specifically the Lightning Network.

Full story at http://bit.ly/2r9pIIt

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