We sometimes don't talk much about it especially when the network is working smoothly and no obvious signs of congestion. But we later go back to same problem when TX fees increases, and so many pending transactions are all seated at the mempool waiting to be confirmed, at this point in time, those who are able to pay higher fees get their transactions ahead of others, but for how long are we going to continue like this ?.
I hear about it all the time and even experience it myself. Even if it’s not particularly a very busy day, the transaction fees are still pretty expensive and it becomes even more so when times come that the network is severely congested.
Sometimes the transaction fee is even higher than the amount I want to buy or sell.
The issue of congestion is still very much on ground, though it has failed off as there are no current events or any rush to trigger such. Certain periods like halving, Bull run and Bear run are ideal times to witness such.
The etf bitcoin for sure has attracted more investors which will cause more congestion later on in the future.
Just a simple but decision making question for both developers and none developers today:
1. What do you think is a possible solution to this problem?.
I think we should delve into Layer 2 solutions. Their ability to allow more transactions to go through in a main blockchain seems very promising. I think we just need to be careful in order to not disrupt the other aspects of bitcoin.