According to data from transactionfee.info, the bit coin transaction is recovering to the level of January 2018 as of February 1 this year. Jameson Lopp, chief technology officer at Casa Coach, a bitcoin security system company, says this is evidence that the bit coin system is improving with personal blogs.
He pointed out that BitCoin has continued to grow based on various statistical data on the blog. Over the past two years, overall improvements have been made by the bit coin core, and the node is working as it is being upgraded. He explained that the decline in transaction demand, the improvement of commission calculation algorithms, the introduction of new mining software SegWit, and transaction batching led to block space efficiency and decreased resource competition.
Seguwit is a technology that was introduced to improve fees for bitcoin network processing delays. In 2018, the ratio of bit coin transactions increased from 10% to 40%. The average size of the bit coin transaction was 750 bytes in February 2018, and 450 bytes in the fourth quarter, and Jamesson Rob explained that this was due to the introduction of Segwitt.
In addition, bitcoin has become a relatively safe haven compared to other speculative ciphers, so bitcoin’s dominance has increased from 32.5% in January to over 50% in the fourth quarter. For more information, please click here .