Bitcoin Transaction Fees Gets Lower

mzl.fmvzdyovLately, the Bitcoin network was in congestion. The recent increase of demand for Bitcoin led to more network transactions. This situation had a direct effect on transaction fees, the fees increased (up more than 1200% in past 2 years) and blocks reached their maximum capacity, the number of  unconfirmed transactions increased (over 165,000 transactions were unconfirmed in May).

With the activation of segregated witness that is getting closer; Bitcoin network became healthier, as you can see in this tweet of Charlie Shrem where he stated that his Bitcoin transaction of $2,000 was confirmed within 6 minutes with a $0.25 fee. Which is a good news and an amazing performance of the Bitcoin Network!


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