Tag: miner fee

miner fee increase

Increase in Miner Fee Due to Bitcoin Network Congestion No Comments

Bitcoin scalability, block size, transaction delays are the hottest topics currently being discussed by the community at this time. In one of our previous posts, we mentioned about scalability issues plaguing the platform. To reiterate, the number of transactions on the platform have increased to levels beyond the processing capacity of the Bitcoin network. Increased load on Bitcoin network has cr...

miner fee increase

Block Size Issue Leads to Increased Miner Fee for Bitcoin Transactions No Comments

The Bitcoin network has been facing some issues with respect to transactions lately. These issues mainly related to smaller block size and increased transactions led to a backlog in transactions, making transactions take longer than usual to be confirmed on the blockchain. Bitcoin block-size has been fixed at 1 MB since it became operational. The 1 Mb limit was set in those initial days when th...