What is the correlation between the block size limit and transaction fees in cryptocurrencies?

1 answers

• Apr 30, 2022 · 3 years ago
  At BYDFi, we understand the correlation between the block size limit and transaction fees in cryptocurrencies. The block size limit plays a crucial role in determining the transaction fees. When the block size limit is low, it can create congestion in the network, leading to higher transaction fees. On the other hand, if the block size limit is increased, it can alleviate the congestion and potentially lower transaction fees. It is important for cryptocurrency networks to find the right balance in setting the block size limit to ensure efficient transaction processing and reasonable transaction fees.
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