Author: Raystonn . 2015-07-29 23:10:56
Published on: 2015-07-29T23:10:56+00:00
The focus on cheaper fees for Bitcoin is not the only factor that will determine its success, as other blockchains could replicate this feature. Economic policy could become the distinguishing factor between different cryptocurrencies. Additionally, while some argue that limiting the block size is an attempt to artificially raise transaction fees, Greg Maxwell explained that the protocol's current state of development relies on block size for security and to protect decentralization. However, a slow increase in maximum transaction rate will lead to pressure on fees, and the blockchain with adequate features and cheapest fees will likely have the largest market share.
Updated on: 2023-06-10T04:13:48.743432+00:00