The Bitcoin Cryptocurrency: Leader for cheaper commissions

Bitcoin cryptocurrency continues to be an undisputed leader in the financial market as it has registered one of its cheapest commissions in 2018, even surpassing the economic Bitcoin Cash rates. This is not the first time that Bitcoin beats the Bitcoin Cash rate levels, in February 2018 the Bitcoin Blockchain reported its lowest rates after the uncontrolled increase in commissions in 2017, comparing in 24.44 satoshis per transaction for BTC and 24.47 satoshis per transaction for Bitcoin Cash.

The statistics published by fork.lol illustrate how the average transaction fees in Bitcoin are being calculated for Tuesday at 7.99 satoshis / bytes at the beginning of the morning and at 15 satoshis / bytes at the end of the afternoon. While, on the other hand, the blockchain Bitcoin Cash has generated transaction fees of around 20 satoshis / bytes.

These comparisons are validated only within the parameters satoshi / bytes of the Blockchain, since in the case of the price of commissions in dollar format, Bitcoin rates are again higher than Bitcoin Cash due to the high price of the first cryptocurrency in the market. In this way, Bitcoin rates in dollar range between 0.1 dollar and 0.9 dollars, a price that many users consider excessively expensive.

Also, recently, Bitcoin users also witnessed how the platform has progressively lowered the price of transaction fees until achieving the same record levels reported in 2011. Approaching the average of Bitcoin Cash commissions again. This decrease in the fees of the Bitcoin network is due in large part to the recent activation of the SegWit function in the network, a solution for the scalability of the Blockchain that has been gradually adopted by miners and exchange houses.

Similarly, the adoption of the practical batch transaction processing method known as Batching among large exchange houses and groups of miners around the world has also led to the price of commissions having fallen in such a short period of time.

It is interesting to compare the number of transactions per block between both chains: Bitcoin processes between 1,000 and 2,000 transactions per block, Bitcoin Cash processes a little more than a hundred transactions. What could put into question how important it is for this network that the size of the blocks is greater, if the demand for transactions in reality requires little storage space, especially when the difficulty in the Blockchain of Bitcoin Cash is so low.