If you are actively using the BattleKnight network, you can not help but feel that the transactions in it are much faster and cheaper than the previous few months. In December 2017, the average transaction price reached its record value of over $ 50. Today, the average cost of passing this transfer is estimated to be less than $ 2.5, versus bitinfocharts.com.
What's more, Bitkine's network reaches close to a record low-paid battle for transactions over the past two years. According to blockchain.info data for the last 24 hours, 52 taxa have been paid in the form of fees. For reference at the peak of December 22, 2017, this quantity was 1496 battleships. Relative to the then cost per battleground, it emerges that network users have paid over $ 25 million. in the form of transaction fees for just one day.
Of course, such financial parameters proved to be outrageous and absurd for most users of the Bitkoween block and logically only months after that peak, the price of transactions has fallen significantly. What, however, about the reasons for this.
See also: What is the Lightning Network and how to solve Bitkine's problems
One of the most obvious reasons is the weaker use of the network. Again, at bitinfocharts.com at the peak of December, the number of day-to-day network transactions reached 490,000. Due to Bitkene's unresolved network scalability problem, a similar number of transfers proved to be too large and triggered a price increase of a transaction to fall into the dug block. However, we can not say this as a major reason, as the number of transactions in the last day was 233,000 or less than twice as high as the price of one transfer, as we have noted, has fallen 20 times.
For the lower fees, it also contributes to the cost of a battleship, which as of December 22, 2017 was more than $ 13,000, while it now graves around $ 11,000. This is hardly a sufficient reason.
Among the more serious factors behind the sharp decline in transaction prices is the ever-more pronounced enforcement of the Segregated Witness (SegWit) protocol. Simpler SegWit permits splitting the battlefield transactions into two separate segments that are sent to the network and merged into upon receipt.
Despite the stubborn resistance of key stakeholders in the Battlefield ecosystem, including the most influential mining organizations, the new technology has already captured one-third of all tracings across the net. One of the biggest exchanges for cryptoLooks trading, such as Coinbase and Bitfinex, announced they are activating the protocol, which automatically reduces the charges for transferring battlefields to and from their sites. This has caused a wave of alternative currency exchanges, which are also struggling to lower their fees.
See also: Coinbase and Bitfinex bring SegWit
We will finish this article with another, relatively underestimated moment in the sharp reduction of wiretap transaction fees, namely grouping them. Until now, cryptobulgation exchanges were forced to block every transaction of a user, regardless of how small or large it is. The currency exchange platform Shapeshift, however, announced that it has launched a transaction grouping process. Thus, instead of blocking a block of transactions, it is grouped. While it is not officially clear what part of the stock market is using such a practice, it also appears to have an impact on lower transaction prices.
