Bitcoin Fees Fall to Record Low

The reduction of the commission size is caused by a decrease of spam transactions, mempool decrease, and popularity growth of SegWit transactions
30 January 2018   713

Over last few days, Bitcoin users faced with a significant reduction in transaction fees along with decreasing of unconfirmed transactions mempool size.

Thus, if at the end of last week to confirm the transaction in the next block it was enough to pay 10-12 satoshi / bytes, by Tuesday morning this figure decreased almost 10 times.

Thus, the average cost of a transaction in a dollar equivalent to date is only $ 0.25 - a really big decline compared to $ 30 - $ 40, which users had to pay back in late December / early January.

In part, these figures are explained by the overall decrease of bitcoin's price, but it is obvious that the commission itself fell noticeably: three or four weeks ago, more than 100 satosh / bytes were required to confirm the transaction quick.

It can also be assumed that the amount of spam transactions on the network has been noticeably reduced.

Also worth paying attention to the mempool: today its size is less than 40Mb, although in mid-January this figure reached 140MB.

Bitcoin Mempoool
Bitcoin Mempoool

The percentage of SegWit-transactions in the bitcoin network, which also help to reduce the commission, on Sunday reached a record of 18.3%. As of Tuesday morning, January 30, its share in the total volume of transactions is estimated at 16%.

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   75

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.