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Transaction fees on #Bitcoin over the last 7 days were almost 5x higher than those on Ethereum.
More than $123M in fees were collected in the past week, marking an all-time high in Bitcoin's history.
#bitcoinhalving #sui #Bitcoin #fee $BTC $ETH $ETH
More than $123M in fees were collected in the past week, marking an all-time high in Bitcoin's history.
#bitcoinhalving #sui #Bitcoin #fee $BTC $ETH $ETH
Is Uniswap's Token Swap Fee a Positive Move for DeFi? â»ïž
#Uniswap , a major decentralized exchange, will start charging a 0.15% #fee for swapping specific tokens in its app and wallet from October 17.
Notable tokens affected include Ether, USD Coin, Wrapped Ether (wETH), Tether, Dai, Wrapped Bitcoin (WBTC), and others.
This low fee will support Uniswap's #expansion plans, which include an iOS and Android wallet, UniswapX, web app improvements, and more.
The exchange currently has $3 billion locked in its contracts and aims to raise $62 million for infrastructure and grants.
However, some controversy arose regarding Know Your Customer verification for traders.
#Binance
#crypto2023
#Uniswap , a major decentralized exchange, will start charging a 0.15% #fee for swapping specific tokens in its app and wallet from October 17.
Notable tokens affected include Ether, USD Coin, Wrapped Ether (wETH), Tether, Dai, Wrapped Bitcoin (WBTC), and others.
This low fee will support Uniswap's #expansion plans, which include an iOS and Android wallet, UniswapX, web app improvements, and more.
The exchange currently has $3 billion locked in its contracts and aims to raise $62 million for infrastructure and grants.
However, some controversy arose regarding Know Your Customer verification for traders.
#Binance
#crypto2023
Uniswap (UNI):
Decentralized Exchange (DEX) Growth: Uniswap will remain a leading decentralized exchange, benefiting from the overall growth of the DeFi sector.
Layer 2 Solutions: Implementation of layer 2 scaling solutions will improve transaction speeds and reduce fees, attracting more users.
$UNI #dex #defi #fee
Decentralized Exchange (DEX) Growth: Uniswap will remain a leading decentralized exchange, benefiting from the overall growth of the DeFi sector.
Layer 2 Solutions: Implementation of layer 2 scaling solutions will improve transaction speeds and reduce fees, attracting more users.
$UNI #dex #defi #fee
Transaction fee explosion after halving: Record in Bitcoin history
The 840,000th block in which the Halving took place paid much more transaction fees than usual. The fees paid in the blocks following the Halving block also reached millions of dollars. A total of $54 million has been spent on transaction fees in less than 24 hours. The previous daily record was $24 million. How did this situation arise?
After Bitcoin's fourth block reward halving, which occurred at 3:09 a.m., a transaction fee war ensued. In the 840,000th block where the halving occurred, rewards dropped from 6.25 BTC to 3,125 BTC, while transaction fees reached 37,626 BTC ($2.4 million), more than 10 times higher. This was also a record in Bitcoin history for the ratio of transaction fees to block reward.
So why was the total transaction fee paid in the halving block so high when the previous block had a total transaction fee of 1 BTC?
The answer lies in the Runes protocol, which was launched alongside the halving.
Runes is a new protocol created by Casey Rodarmor, the developer of the Ordinals protocol, which allows NFT creation by writing data to satoshis, the smallest unit of Bitcoin, equivalent to one hundred millionth of a Bitcoin. Runes, which allows for the first time to issue interchangeable tokens on Bitcoin, introduces a new token standard that is proposed as a better and simpler alternative to the BRC-20 standard in Bitcoin.
Bitcoin developer Jimmy Song says the post-halving record transaction fees were driven by the competition to be one of the first teams to issue tokens on the Runes protocol (high marketing value) and to get the best name (also high marketing value). Because Runes does not allow another token with the same name to exist to avoid confusion.
As it is known, miners usually rank transactions according to the fees paid. Transactions that pay high fees are moved to the front. This is the reason why Bitcoi
#bitcoin #usdt #fee #binance #BNBđ„
The 840,000th block in which the Halving took place paid much more transaction fees than usual. The fees paid in the blocks following the Halving block also reached millions of dollars. A total of $54 million has been spent on transaction fees in less than 24 hours. The previous daily record was $24 million. How did this situation arise?
After Bitcoin's fourth block reward halving, which occurred at 3:09 a.m., a transaction fee war ensued. In the 840,000th block where the halving occurred, rewards dropped from 6.25 BTC to 3,125 BTC, while transaction fees reached 37,626 BTC ($2.4 million), more than 10 times higher. This was also a record in Bitcoin history for the ratio of transaction fees to block reward.
So why was the total transaction fee paid in the halving block so high when the previous block had a total transaction fee of 1 BTC?
The answer lies in the Runes protocol, which was launched alongside the halving.
Runes is a new protocol created by Casey Rodarmor, the developer of the Ordinals protocol, which allows NFT creation by writing data to satoshis, the smallest unit of Bitcoin, equivalent to one hundred millionth of a Bitcoin. Runes, which allows for the first time to issue interchangeable tokens on Bitcoin, introduces a new token standard that is proposed as a better and simpler alternative to the BRC-20 standard in Bitcoin.
Bitcoin developer Jimmy Song says the post-halving record transaction fees were driven by the competition to be one of the first teams to issue tokens on the Runes protocol (high marketing value) and to get the best name (also high marketing value). Because Runes does not allow another token with the same name to exist to avoid confusion.
As it is known, miners usually rank transactions according to the fees paid. Transactions that pay high fees are moved to the front. This is the reason why Bitcoi
#bitcoin #usdt #fee #binance #BNBđ„
