Unwithered by the ongoing bear market, Bitcoin’s (BTC) underlying architecture continues to outperform itself — further securing, decentralizing and speeding up the impenetrable peer-to-peer (P2P) network. The same holds true for the Bitcoin Lightning Network (LN). The Bitcoin Lightning Network capacity attained an all-time high of 3915.776 BTC, as evidenced by data from Bitcoin Visuals, displaying a commitment to the cause of improving BTC transaction speeds and reducing fees over the layer-2 protocol. The Bitcoin LN was first implemented into the Bitcoin mainnet in 2018 to address Bitcoin’s infamous scalability issues and has ever since been able to maintain an …

Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum are “unmatched” despite the network’s high transaction fees. The firm does warn, however, that its “popularity is also a double-edged sword,” given that Ethereum prioritizes decentralization over scaling, resulting in competing blockchains stealing market share with “promises of better performance and lower fees.” The comments came via a blog post introducing a16z’s 2022 “State of Crypto” report, with the firm’s data scientist Daren Matsuoka, head of protocol design and engineering Eddy Lazzarin, general partner Chris Dixon and head of content Robert Hackett all working together …

Ethereum’s high gas fee and its impact on the platform’s scalability Purpose of Ethereum 2.0 The primary goal of the Ethereum 2.0 update is to improve scalability so that the network can handle more transactions without delays or high fees. While the full effects of the update will not be felt until it is fully rolled out, some of the possible use cases for Ethereum 2.0 include: Supporting the large-scale enterprise adoption of blockchain technology in private corporations and businesses; Creating more decentralized autonomous organizations (DAOs) and governance models based on smart contracts and trustless interactions; Ethereum token launches that …

Ethereum co-founder Vitalik Buterin believes that layer-2 transaction fees need to be under $0.05 to be “truly acceptable.” Buterin made the latest comments in response to a Twitter post from the “Bankless” podcast host Ryan Sean Adams, who shared a screenshot of the average transaction fees for eight eight Ethereum layer-2 platforms. The data is from L2fees.info, a website that compares the cost of Ethereum’s layer-1 network in comparison to layer-2s built on top of it. The only layer-2 to meet Buterin’s desired transaction fee under $0.05 is the Metis Network at $0.02, however, a token swap on the platform …

The Solana network faced its seventh outage on Saturday, resulting in a downtime of over seven hours. The developer team has released an outage report, along with three key mitigation steps to make the network more stable. The network outage on Solana was caused by a significant surge in the number of transactions due to nonfungible token (NFT) minting bots. The bots used Candy Machine, a popular application used by Solana NFT projects to launch collections. The transaction volume reached six million per second, overflowing individual nodes with 100 Gbps data. As a result, validators ran out of data memory, …

The cost of running a crypto business in New York is about to rise with the state government gearing up to require companies holding a BitLicense to pay assessment fees to ensure they’re complying with regulations. The rule was included in New York State’s FY2023 budget signed into law on April 9 by Governor Kathy Hochul, giving the state’s Department Of Financial Services (DFS) a “new authority to collect supervisory costs from licensed virtual currency businesses,” according to a statement by the DFS. DFS superintendent Adrienne Harris said the fees would bring digital currency businesses in line with those already …

The average transaction fee per Bitcoin (BTC) transaction made a complete 360-degree over nearly two years to settle down at $1.039, a number which was last recorded back in June 2020. The BTC transaction fee is the cost to transfer any amount of BTC, which is also directly proportional to the time it takes to validate and complete the transaction. As evidenced by data provided by Blockchain.com, the average BTC transaction fee saw a steady decline from an all-time high of $62.788 in April 2021 before coming down to an eight-month average of $2 in July 2021. Before April 2021, …

Some analysts argue that Bitcoin (BTC) rallied too fast and too soon and the weakness that we see today is a result of that. Currently, a new Covid variant has caused the Chinese government to implement severe restrictions on Shanghai and other major cities and persistent regulatory concerns continue to weigh down on sentiment within the crypto sector. Another concerning development is the March 31 European Parliament's Committee on Economic and Monetary Affairs (ECON) vote to update the regulations in regards to exchange platforms’ ability to deal with noncustodial crypto wallets. Should the regulatory project make it to the legislative …

It’s a great time to move Bitcoin (BTC) between wallets and exchanges. Bitcoin transaction fees have hit all-time lows in BTC, according to research by Galaxy Digital. #bitcoin fees are at all-time lows. the craziest thing? fall 2021 was the first bull run not accompanied by a major spike in fees. how is that possible? what does it mean? here's a thread explaining the most confounding (and awesome) chart in bitcoin. (remember june 2021) pic.twitter.com/gnWssTckX2 — Alex Thorn (@intangiblecoins) April 5, 2022 As shown on the graph below, the Bitcoin mean transaction fee has plummeted to 0.00004541 Bitcoin ($2.06) in …

Three market catalysts suggest that Ethereum's native token Ether (ETH) is well-positioned to reach $4,000 this month. Google searches for "Ethereum merge" spike Internet users' interest in Ethereum's upcoming network upgrade, dubbed "the Merge," surged substantially in the week ending April 2, Google Trends' data shows. Searches for the keyword "Ethereum Merge" reached a perfect Google Trends score of 100 on a 12-month timeframe with most traffic coming from the U.S., Singapore, Canada, and Australia. Merge, also called ETH 2.0, refers to the Ethereum network's full transition to Proof-of-Stake (PoS) from Proof-of-Work (PoW), a development that had been touted as …

The Central Bank of Jamacia recently announced that it would be launching its central bank digital currency (CBDC), dubbed the Jamaican Digital Exchange, or Jam-Dex, in the first quarter of 2022. According to the Jamaican government, the national digital currency will help to lower transaction costs while allowing the unbanked to access financial services. It is estimated that over 17% of Jamaicans are unbanked, but it is feared that many more are underbanked. This is largely due to systemic financial sector impediments. High transaction costs, in particular, are a huge limitation. Consequently, many Jamaicans believe that banks are a preserve …

Gas fees for transactions on the Ethereum (ETH) blockchain have dropped to the lowest levels since August. But they’re still not cheap. According to data sourced from Coinmetrics and shared by CryptoRank Platform, the seven-day moving average cost of an Ethereum transaction as of March 9 totaled $11.14, placing it back amongst the levels recorded mid-last year before it surged dramatically to as high as $55 at the tail end of 2021. The cost of transactions on the @Ethereum network has not been this low since Aug 2021. Notably, gas prices surged after staying in this range for about 3 …