The time required for processing bitcoin transactions, and the fee for them is a significant obstacle to the recognition of the most famous cryptocurrency as a means of everyday payments. While competitors tried to occupy a vacant place, bitcoin does all seem normal.
For the last three months the median Commission rate for bitcoin transactions has become one of the lowest since 2011.
As the statistics shows transactionfee.info the 4th and 5th of April, the median rate reached the lowest level, down to 6.86 Satoshi per byte. The Commission increased to 39.29 30 April, but since then has decreased again.
Saturday, 26 may, the Commission declined to 9.43 Satoshi, and on Sunday to 8.86.
Since the beginning of 2018, this figure dropped significantly. On the eve of new year it was 453,57 Satoshi per byte and since then gradually declined.
We will remind, the high cost of transactions and latency of operations has led to a split in the blockchain of bitcoin — creating a hard forks of Bitcoin Cash (BCH).
Bitcoin Cash promised more faster and cheaper transactions compared to bitcoin. If the original gap between the average rates of the commissions of these cryptocurrencies were significant, over the last three months it has declined significantly. The average rate transactional commissions previously amounted to $34,095 for bitcoin compared to $0,0333 Bitcoin for Cash, however last weekend these indicators have made $0,113 $0,0038 respectively.
The bitcoin softpark Segregated Witness (SegWit), which is now widely implemented, has become one of the factors reducing transaction fees of bitcoin. If you have previously SegWit was only used in 28% of transactions, the last Sunday, the figure was closer to 38%. Transaction fees with SegWit make up only 18% of the total transaction costs.
It is expected that further implementation SegWit and Lightning Network (LN) to solve the scalability problem of bitcoin. Lightning Network is still in its infancy, but the efficiency of this Protocol is impressive: throughput of the network LN has exceeded $150 000.