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Bitcoin Transaction Fees Surged by 10% after the Halving
Summary: The post-halving epoch began with a 10% surge in BTC transaction fees, reported CoinGape. As the halving reduced miners’ rewards per block from 12.5 BTC to 6.25 BTC, the reward-based blockchain is now on its way to a transaction-fee model.
The post-halving epoch began with a 10% surge in BTC transaction fees, reported CoinGape. As the halving reduced miners’ rewards per block from 12.5 BTC to 6.25 BTC, the reward-based blockchain is now on its way to a transaction-fee model.
Bitcoin miners receive remuneration from the reward for maintaining the network and transaction fees. Since the reward per block decreases after the halving, costs for moving value in BTC between addresses inevitably increased. Per CoinGape, the difficulty of adding new blocks to the ecosystem may be a net positive for the cryptocurrency, as price may rise due to short supply.
By Yiran Dai
Tags: Bitcoin (BTC),Transaction Fee
Link: Bitcoin Transaction Fees Surged by 10% after the Halving [Copy]
