Popular crypto money analyst Willy Woo pointed out something that many in the crypto money community ignored. Bitcoin lost nearly 70 percent of the highest level of all time this year, while Bitcoin’s network is silently scaling. This is a sign of what many Block leaders are doing when prices are falling. This shows that developers continue to work away from speculation surrounding crypto currency prices.
The bottleneck in the Bitcoin network reached 95 percent last week
The bottleneck in the Bitcoin network reached 95 percent last week. However, if you were trading at BTC, there would be no increase in transaction fees. Because there was no increase in BTC’s trading fees. Transaction fees were around 0.1 dollars, even for large transactions such as 194 million dollars.
In his share of the official Twitter account, woo compared Bitcoin’s period and today with $ 20,000 to the highest level of all time in December 2017. In 2017, the analyst pointed out that 85% of the block on the network is based on $ 30, indicating that in the event of today’s 95% block, it is below 0.1 dollars.
“Bitcoin blocks have reached 95 percent occupancy without anyone noticing it, ” said Willy Woo, crypto money Analyst.”
Woo, the subject says:
Bitcoin’s blocks have reached 95 percent occupancy without anyone noticing, and the fees and approvals remain nominal. Not bitcoin of 2018, Not Bitcoin of 2017. The protocol is quietly evolving.
Although the data may seem to be based on a 1MB ceiling, Woo later updated the table to reflect the “witness blocks in the picture”. According to Blockchain Council, approximately 2,000 processing equivalent of 1MB block, but the average number of operations per block was reported below that. The adoption of SegWit, which weighed 4 million blocks, increased the capacity of the blocks.
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