{"id":56308,"date":"2018-05-29T02:22:26","date_gmt":"2018-05-29T09:22:26","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=56308"},"modified":"2026-04-16T16:12:10","modified_gmt":"2026-04-16T15:12:10","slug":"bitcoin-median-transactions-fees-now-the-lowest-since-2011","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-median-transactions-fees-now-the-lowest-since-2011\/","title":{"rendered":"Bitcoin Median Transaction Fees Now the Lowest Since 2011"},"content":{"rendered":"

Bitcoin<\/a> (BTC) is the father of cryptocurrencies, and still the largest cryptocurrency by market cap at $122 billion. In August\u00a02017, the Bitcoin community split as BTC struggled with high transaction fees and slow transfer times. The split resulted in the hard fork which created Bitcoin Cash<\/a>.<\/p>\n

With its increasing popularity, BTC saw slow transaction times and high fees, reducing the usability\u00a0of the coin and widespread adoption. However, the fees have been at an all-time low since 2011 due to the soft fork Segregated Witness (SegWit) as well as the increased use of The Lightning Network.<\/p>\n

Segregated Witness and The Lightning Network<\/h2>\n

SegWit was activated on August 24, 2017, and in the following October, the proportion of network transactions using SegWit rose from 7% to 10%,<\/a> indicating an increase in usage rate. According to an article<\/a> on The Next Web, the number is now closer to 38%.<\/p>\n

Although SegWit\u00a0caused some commotion when it was first introduced, many major players in the industry announced their support including Bitfinex and Coinbase, both implementing it on their platforms. More recently, Ted Rogers the President of Xapo, a popular wallet, tweeted their decision to implement SegWit.<\/p>\n

\n

Happy to say that @Xapo has implemented #Segwit<\/a>. Onward!<\/p>\n

— Ted Rogers (@tedmrogers) May 24, 2018<\/a><\/p><\/blockquote>\n