The number of Bitcoin transactions has jumped to the level of January 2018. The market comes alive

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2019-02-09 22:30:08

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The number of Bitcoin transactions has jumped to the level of January 2018. The market comes alive

According Transactionfee.info daily volume of transactions on the network increased to levels January 2018 — shortly after the main price of bitcoin has reached 20 thousand dollars. According to some key players in the industry, it is a sign of evolution in ecosystems and the fundamental characteristics of cryptocurrency. Chief technical Director of the company Casa Jameson Lopp posted on Medium performance analyst the fundamental characteristics of Bitcoin and assured that «system of improving and growing». In their study, the Lopp have thoroughly studied different sources and the statistical metrics of the growth of Bitcoin over the 2018.

Over the last couple of years the Bitcoin Core team has implemented a number of improvements to the arrangements for the distribution of blocks. Since the nodes are updated, it seems, all this makes sense.

Daily number of Bitcoin transactions. Source: Transactionfee.info

According to Loppa, the reduced demand for transactions, improved algorithms for the estimation of the Commission, adoption and transaction grouping has led to more efficient usage of unit space and reduce differences in the use of this scarce resource. SegWit aims to reduce the processing time and waiting, and transaction fees.

In 2018, the percentage of Bitcoin transactions through SegWit increased from 10 to 40 percent, while the average transaction size in BTC peaked at 750 bytes in February. Then in the fourth quarter of 2018 fell to 450 bytes. According to Lopp, the result of wider adoption of SegWit. He also recalled that last year, the dominance of Bitcoin again 50 percent after a brief fall to 32.5 per cent.

The Number of available gcd is not significantly decreased in comparison with the exchange rate. I suspect that the people who run these nodes, are very devoted to Bitcoin, or do so for economic reasons. So I doubt that they will shut off the gcd due to the jumping course.

In November 2018 cryptoanalyst Anthony Pompliano said about the growth fundamentals of Bitcoin, including the cost of each transaction and their total amount. Pompliano highlighted seven main characteristics of Bitcoin and pointed to the growing number of Bitcoin wallets, as well as increasing the number of daily confirmed the transaction.

The More data you look at . The current rate of coins can be found in our classroom .

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