3 ms·
This is because the bitcoin network can currently only process 1MB of transactions every 10 minutes. 1MB is an arbitrary limitation that could be changed easily
by placeybordeaux 10y ago
This is because the bitcoin network can currently only process 1MB of transactions every 10 minutes. 1MB is an arbitrary limitation that could be changed easily, but there is strong resistance against increasing this limit. Its a fairly safe assumption that increasing the limit will decrease the fee amount roughly proportionally. The worry is that there will be unintended consequences for increasing the 1MB block size.