Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review

Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto […]

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A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen

The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between former Bitcoin developer Gavin Andresen and the network’s […]

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Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues

binance lightning networkBinance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces […]

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Ethereum Transfer Fees Drop From Recent Highs, L2 ETH Solutions Between 46-97% Cheaper

Ethereum Transfer Fees Drop from Recent Highs, L2 ETH Solutions Between 46-97% CheaperAt the end of August, Ethereum network gas costs skyrocketed and tapped a high of $59 per transaction on September 7, according to the average transaction fee spent on that day. The median fee for an ether transaction on September 7 was around $20 per transaction. Days later, ether transaction fees have subsided to a […]

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Why Top Global Brands Like the NBA and UFC Choose Dapper Labs’ Flow Blockchain

FlowDeveloped by the team behind some of the most successful crypto applications in the world, Flow is a blockchain re-designed from the ground up to be user- and developer-friendly as well as modular and future-proof. The network is already being used to develop digital collectibles offerings for top global brands like the NBA and UFC […]

The post Why Top Global Brands Like the NBA and UFC Choose Dapper Labs’ Flow Blockchain appeared first on Bitcoin News.

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EIDOS Airdrop Causes Major EOS Network Congestion

Blockchain congestion is a very big problem in the cryptocurrency industry. Many networks suffer from these drawbacks on a regular basis. In the case of EOS, such issues had not been present all that much. That situation came to change earlier today, as an airdrop quickly filled up the network capacity.  An Airdrop Cripples the EOS Throughput For Coinbase, the degraded performance of EOS has been apparent for a while. Over a week ago, the company noted it would take longer to process transactions.  It now appears there is a major increase in EOS network activity. An ongoing airdrop of

The post EIDOS Airdrop Causes Major EOS Network Congestion appeared first on The Merkle Hash.

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ERC20 Tether Transactions Flip Their Omni Equivalent

Ethereum Tether Transactions Flip Omni-Based USDT TransactionsCrypto enthusiasts have noticed that the Ethereum blockchain has come awfully close to reaching capacity due to the added transactions stemming from the Tether (USDT) network. The transaction count since mid-August shows the ERC20 version of tether has surpassed the original version that uses BTC. ERC20 tether transactions cost users more than $260,000 in the […]

The post ERC20 Tether Transactions Flip Their Omni Equivalent appeared first on Bitcoin News.

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Btc.top CEO Highlights the Benefits and ‘Golden Mean’ of Bitcoin Cash

Btc.top CEO Highlights the Benefits and 'Golden Mean' of Bitcoin CashOn July 23, the CEO of Btc.top, Jiang Zhuoer, debated Nchain’s chief scientist Craig Wright in regard to the civil war between BCH and BSV that took place in November. Amid the debate hosted by Bitkan, Zhuoer highlighted the top three advantages tied to the Bitcoin Cash ecosystem. During the dialogue, Zhuoer also emphasized that […]

The post Btc.top CEO Highlights the Benefits and ‘Golden Mean’ of Bitcoin Cash appeared first on Bitcoin News.

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Rogue App Wreaks Havoc –Transaction Costs Soar as the Ethereum Network Slows

Transactions Costs Soar as the Ethereum Network SlowsAnother month, another almighty congestion on the Ethereum network. Gas prices have soared this week, passing 500 gwai at one stage, before settling on a still-pretty-substantial 56 gwai. As a result, the average transaction cost is $0.49, making it more expensive to send crypto on Ethereum than on other major blockchains such as BTC or […]

The post Rogue App Wreaks Havoc –Transaction Costs Soar as the Ethereum Network Slows appeared first on Bitcoin News.

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Ethereum Network Congestion Forces Exchanges to Halt Withdrawals

Ethereum Network Congestion Forces Exchanges to Halt WithdrawalsScaling problems that have been sporadically affecting the Ethereum network have resurfaced. While bulls and bears were battling it out in the markets, the Ethereum blockchain was fighting to restore some semblance of normal service. The congestion forced a number of exchanges to halt withdrawals, with one going so far as to advise customers to […]

The post Ethereum Network Congestion Forces Exchanges to Halt Withdrawals appeared first on Bitcoin News.

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