Bitcoin Core Slashes Def Relay Fee by 90%: Update Rolls Out

Bitcoin Core Slashes Def Relay Fee by 90%: Update Rolls Out

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The Bitcoin Basic Program has reduced the default minimum deportation fees for transactions, which represents one of the most important changes in years of money that is moving economically across the network.

Bitcoin Core 29.1, Absolute On September 4, the default minimal deportation rate is determined to 100 Satoshis per thousand virtual bytes (0.1 Sats/VB), which is a 90 % reduction in Previous virtual 1 SAT/VB average. Users pay their fees in Satoshis (the smallest unit of Bitcoin) multiplied by their transactions.

While each individual knot operator can change this setting, most of them are expected to abide by the virtual value. Do not transfer the contract and most of them ignore transactions with fees less than the value you set for the minimum deportation fees.

The decision to take the change was to make By Bitcoin Core on August 15 “in response to Bitcoin exchange changes in approximately 10 years.” The proposal stated that the minimum fees is the base of protecting attacks (DOS), but he suggested that with high prices now, there are fewer fees in Bitcoin (BTC) acceptable.

The adoption is expected to appear slowly

According to Bitref data, more than 72.5 % of all Bitcoin contract (18,811) Run Bitcoin Core Node, and the remaining Bitcoin knot remains approximately 27.25 %, which is a fork of Bitcoin Core, which focuses on ensuring more user control. A deeper analysis found that the most popular node program is Bitcoin Core 29, with 4,510 contracts more than 18 % of the network.

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Followed by 3,991 Bitcoin Core 28.1 Contract (approximately 16 %) and 3,083 Bitcoin knots 29.1 contract (12.31 %). Only 571 nodes operate Bitcoin Core 29.1, representing less than 2.3 % of the network.

While Bitcoin 29.1 knots depends on Bitcoin Core 29.1, it does not inherit the new virtual settings. Instead, with this update, a knot Prescribed To make most of the configuible policy options in the graphic user interface options, add “Corepolice” option to use Bitcoin basic assumptions. “

Bitcoin Bitcoin lifted the minimum bitcoin core to maintain ancient value. source: Gyrroup

The majority of the 571 Bitcoin contract that operates Bitcoin Core 29.1 and is difficult to activate from the Bitcoin 29.1 knot that is likely to manage the latest deportation policy.

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Society interacts with low fees

Bitcoin Core, Gloria Zhao, He said The change is also stimulated in a modern direction in which the cheapest transactions are extracted from the previous limit in both cases. This is because, although the default value has been set in one direction, the node operators have been allowed to operate the value they prefer.

This has caused problems, because “the blocks that contain many Sub-1Sat/VB transactions do not spread at the speed that they refused or have not heard of these transactions earlier.” However, to keep the network protected from RAM and DOS attacks, Zhao sheds light on the need to avoid making the virtual value very cheap, but is still less to prevent the described mass deportation problems.

Bitcoin Mempool.space Data service also called for low fees, and advice to users not to pay excessive payment of the space they use on Blockchain. “0.1 SAT/VB is the new SAT/VB”, written in mid -July x mail.

source: Mimpol

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