Bitcoin Transaction Fees Hit Three-Year Low as Lightning Network, SegWit Help BTC Scale

Bitcoin’s transaction fees have recently hit a low they hadn’t seen in over three years, as according to BitInfoCharts the median transaction fee on the flagship cryptocurrency’s network is just $0.029.

As pointed out by cryptocurrency community researcher Kevin Rooke on Twitter, the Bitcoin network hadn’t had fees this low since October 2015, when it was trading at about $270.

As the researcher pointed out in a reply to his tweet, this doesn’t mean the network is processing fewer transactions than what it was three years ago. In fact, it has been processing 75% more transactions, but it has been doing it more efficiently.

Reference: https://www.ccn.com/bitcoin-transaction-fees-hit-three-year-low-as-lightning-network-segwit-help-btc-scale/

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