Why the battle for low or no transaction fees really matters
Cointelegraph
Published Oct 27, 2022 01:00PM ET
Updated Oct 27, 2022 02:40PM ET
During the frenzied bull run, transaction fees were running rampant. Over on the Ethereum blockchain, they hit eye-watering highs of $196.638 back in May — rendering the network unusable for most everyday consumers.
The Bitcoin blockchain suffered from a similar issue the year before, accelerating to a record-breaking $300.331. When demand is high, it's easy for Proof-of-Work networks to get congested — prompting miners to prioritize the transactions with the highest fees.
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Written By: Cointelegraph
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