Published on: 2018-05-10T13:05:27+00:00
In Bitcoin Core, fee rates are measured in satoshis/kB. The current minimum fee is set at 1 satoshi per byte, which corresponds to approximately 0.09 USD per kB. However, this fee is now considered significant and may hinder everyday payments without spamming the mempool with free transactions. To address this issue, a proposal has been made to introduce more decimal places and set the minimum fee at 1 of the new smallest unit. By implementing this change, it would be possible to make affordable everyday payments while also preventing mempool spam. It should be noted that for this change to have a significant impact, it would require the rest of the network and miners to adapt as well.
Updated on: 2023-08-01T23:07:06.634580+00:00