Author: Jameson Lopp 2017-12-21 22:02:37
Published on: 2017-12-21T22:02:37+00:00
The long-term security of the blockchain has been a concern for many as the block reward reduces and fees are expected to replace it. Currently, fees make up 45% of the block reward, with potential to cross 50%. However, there is concern that the fee per transaction may be too high for some use cases, particularly as segwit adoption stands at around 10%. Efforts are being made to encourage high volume senders to be more efficient in their use of block space by batching transactions and implementing segwit. Companies like BitGo are proactively educating their customers on efficient use of block space. Useful resources include https://bitcointechtalk.com/saving-up-to-80-on-bitcoin-transaction-fees-by-batching-payments-4147ab7009fb and https://blog.zebpay.com/how-zebpay-reduced-bitcoin-transaction-fees-a9e24c788598. Observation of the mempool shows congestion at a peak, but it may come down over the long weekend.
Updated on: 2023-06-12T23:15:22.218835+00:00