Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Transaction fees rise by 590 Percent.
by
Wenbing
on 30/07/2020, 14:29:29 UTC
Along with the increase in BTC price, transaction fees also spiked Embarrassed In recent days, bitcoin had a bullish rally which lifted prices above 11000 at the time of recording. The transaction fees of bitcoin also moved up to heights with a spike of nearly 590 percent. What is the reason behind this? Click to know more
https://coinpedia.org/news/bitcoin-transaction-fees-surges-590-percent-heres-what-can-help-it-save/

The first thing to say is that the hiking of bitcoin transaction fee by nearly 590% is a market friction in crypto that need a solution. We believe that the volatality of crypto is an advantage to some and a disadvantage to others but if the gas rate continue to rise at this high level, the effect may be a discouragement to those that uses it for transaction.

Lightening network can be improved upon as suggested above to solve this issue.