Bitcoin Above All: First P2P Transaction in Space

Genesis Mining has successfully settled the first peer-to-peer Bitcoin transaction in space with the help of a weather balloon. A few weeks ago, the team at Genesis Mining, the Bitcoin mining company which was founded in 2013, travelled to the United Kingdom to launch a 3D model of a Bitcoin embedded with a Bitcoin paper wallet into the stratosphere. In its first launch the space balloon reached the Armstrong Limit, or an altitude of 20 kilometers, successfully taking the physical Bitcoin into space to settle a Bitcoin transaction. In its second launch, the space balloon surpassed the 34....

Over the past year, we have seen the fee market for bitcoin transactions evolve at a rapid pace. As transaction volume continues to increase, so does the demand for block space, which remains in limited supply of 1 megabyte (MB) approximately every 10 minutes. As we have debated the issue of increasing the supply of block space ad nauseum, this article will focus on the history and current state of bitcoin transaction fees. The fact is that the pressures resulting from high contention for block space have degraded user experience and thus incentivized bitcoin wallets to make adjustments in....

Why do blockchains need transaction fees — and which networks allow crypto to be transferred less expensively? This explained article takes a look. What factors contribute to transaction fee sizes?The two main factors affecting fees are the size of a transaction, and demand for block space.Given that some networks can only contain a limited amount of data in each block, miners or validators are restricted on the number of transactions they can include.When there are many users sending crypto funds simultaneously, demand for block space increases, and there are more transactions waiting for....

Ethereum fees had touched new highs thanks to the popularity of the decentralized finance (DeFi) space. As network activity had grown, so had the transaction volumes. The effects continue to linger even into the bear market, although fluctuations between low and high are now more common in the space. Presently, transaction volumes have fallen sharply and ETH fees have now plummeted to monthly lows. Ethereum Transactions At $0.5 Ethereum transaction fees have declined to one of their lowest points this year. Gas costs which have been fluctuating between high and low seem to have found their....

Ethereum still boasts one of the highest transaction volumes in the crypto space but recently, the blockchain has been seeing a decline in its transaction fees. The fees decline significantly which has been a welcome development for users of the network. However, this decline has sparked concerns regarding what types of effects it could have […]