Commission for bitcoin-transactions reached record values

Last week, the crypto community was surprised at the low cost
commissions in the network of bitcoins. Today the price for transactions has dropped to a mark of 0.25 USD.

When a transaction enters the network, it is first checked and confirmed by all Bitcoin nodes that are available. After a successful test, it enters the pool of memory and waits until the miner selects it for inclusion in the next block.

The higher the fee a user desires to pay, the sooner his transaction is processed. Choosing low commissions during peak activity can cause the transaction to take hours or even days. However, Bitcoin users often do not choose the size of the commission. Many wallets and exchanges automatically set a high speed, and therefore a high cost.

Last month the commission cost was more than 30 dollars. The exact reason for the record low price decline is still unknown. However, many experts believe that the impact has had a number of new advances in Bitcoin technology, which are gradually being introduced into the network.

In particular, the SegWit protocol. In fact, this is the restoration of the Bitcoin network, which solves the problems of plasticity of transactions. The number and volume of operations is constantly growing. Segwit optimizes the transaction process and creates conditions for the subsequent increase in the block size.

Further implementation of SegWit can further reduce transaction charges by 35 percent. If leading companies, such as Coinbase and Blockchain, integrate SegWit, transaction fees for regular payments on bitcoin will be minimal.
Although already today to confirm the transaction in the next block it is necessary to pay only 2 satosh / bytes.

Users actively support the implementation of the protocol. Recently, on Change.org, a petition was launched calling for Coinbase to accelerate the implementation of SegWit, which has already been signed by more than 12,000 people.

It is possible that the cost was affected by a decrease in the volume of spam transactions on the network. The crypto community has often been talking about this lately, accusing Bitcoin Cash of purposeful attack.

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