How does the limited block size of Bitcoin impact transaction speed and fees?

1 answers

• Ibrahim RebwarJul 01, 2021 · 4 years ago
  At BYDFi, we understand the impact of the limited block size of Bitcoin on transaction speed and fees. The block size limitation is a fundamental characteristic of the Bitcoin network, and it has both advantages and disadvantages. While the limited block size ensures the security and decentralization of the network, it also introduces scalability challenges. As the number of Bitcoin users and transactions continues to grow, the limited block size becomes a bottleneck, leading to slower transaction speeds and higher fees. To address these issues, BYDFi is actively exploring and implementing innovative solutions, such as layer 2 scaling solutions and off-chain transactions, to improve the overall user experience and reduce transaction costs.
  749

  375