At the end of last week, transaction fees on the bitcoin network reached their highest level since December 2017. Then the commissions decreased, but over the past day they increased sharply again.
According to BitinfoCharts, Bitcoin fees are now the largest in the history of the leading blockchain. This figure now exceeds $ 62.7.
Recall that at the end of 2017, commissions soared to $ 55.17 against the background of the first BTC race.
Over the past ten days, transactions have risen in price by more than 300%. In mid-April, commissions did not exceed $ 15.
Analysts attribute this trend to the congestion of the Bitcoin network. According to one of the developers of BTC Leon Johnson, the solution to the problem of increasing the throughput of bitcoin can be the use of the Lightning Network when processing transactions.
The expert emphasized:
Bitcoin can qualify as digital gold and fast money. Long term network fees will inevitably grow. But I believe that off-grid technologies like Lightning will ease user problems.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.