In a candid evaluation of the current state of Web3, Ethereum co-founder Vitalik Buterin laments the fading vision of a decentralized internet. Buterin emphasizes the stifling effect of rising crypto transaction fees on innovation and broad-based usage of cryptocurrency. He points out the shift towards centralized solutions and the dominance of high-stake players, expressing concern […]
On Saturday, December 16, the cost of transacting in bitcoin eclipsed its previous peak from May 8, 2023, surging past $ 40 per transaction. The trend of escalating onchain fees began on the final day of October, steadily increasing thereafter. Numerous crypto proponents foresaw this spike, suggesting a potential shift to Layer two (L2) …
On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $ 40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $ 31 per transfer. Skyrocketing Bitcoin Fees Surpass $ 40 Bitcoin …
Bitcoin transaction fees have surged again. On Dec. 6, 2023, bitinfocharts.com reported that the average cost of a bitcoin transaction soared to $ 27.55. Presently, the average transaction fee hovers around $ 13.93, alongside a growing backlog of unconfirmed transactions, currently at 249,000 at the time of this report. Rising Backlog Drives Sharp …
In recent days, discussions have intensified around the emerging bitcoin mining pool Ocean and its decision to exclude certain transactions, specifically those linked to Ordinal inscriptions and coinjoin activities. Luke Dashjr, a key figure in Ocean’s operations and a prominent Bitcoin Core developer, clarified to the public that the roots of this debate stretch back […]