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Busy, busy, busy in the network: the number of daily Bitcoin transactions is approaching all-time high

the The number of daily Bitcoin Blockchain transactions carried out on the prowl to the all-time high in December 2017. Time to take a look at a number of netw

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Busy, busy, busy in the network: the number of daily Bitcoin transactions is approaching all-time high
the The number of daily Bitcoin Blockchain transactions carried out on the prowl to the all-time high in December 2017. Time to take a look at a number of network statistics: the Status quo in the Bitcoin network.

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the transparency of The Bitcoin Blockchain a blessing and a curse at the same time. On the one hand, the structure of the Blockchain, all payments to trace allowed, which may allow some conclusions about the copyright, and the anonymity of hurt. On the other hand, the transparency promise is but also Bitcoins large value: None of the network participants can gain an information advantage. Finally, all the data are accessible to the public.

And so it is from time to time worthwhile to take a look at current Figures and data, the information about the current Status in the Bitcoin network.

the number of daily transactions is approaching all-time high at

As a look at transactionfee.info reveals, there was in the history of digital gold in a single month in which the Bitcoin network handled more transactions than is currently the case. In December 2017, the network, participants shared, on average, about 406.180 transactions in BTC. The present value of approaching high-with just under 380,000 transactions already surprisingly close to the all-time – and at significantly lower rates.

It pointed first @ArminVanBitcoin on Twitter.

Daily Bitcoin transactions. Data source: https://transactionfee.info/charts/payments/transactions.Transaktionsgebühren slimming

During the high phase of the parabolic evolution of the Bitcoin exchange rate in 2017, so many complained about rising transaction fees. In fact, the average fee amounted to the end of 2017, approximately 690 Satoshi per Byte of data sent. The Mempool was filled with such impact that some 30 of US had to put $ on the table, until the Miner took pity, the transaction in the Blockchain.

transaction fees in the Bitcoin network in the Median. Information in Satoshi per Byte. Source: transactionfee.inof/charts/feerate/median.

These days, the transaction fees per Byte in the Median, only about 30 Satoshi – and with a similar network usage.

One reason for this could be scaling updates as SegWit or the Lightning Network. Lightning about streamlined as a Second-Layer solution On-Chain transactions and thus provides for less data traffic on the basis of the base Layer.

Overall, the BTC network, the plaster seems sound. The implementation of the scaling solutions in the case of decentralized networks according to sedate. But as the data shows, the effects in a sustainable manner.

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