Transaction fees now account for 17% of miners' income

The recent reduction in miner rewards has increased the impact of transaction fees on profitability.

As a result of the halving, miners began to receive 50% less BTC, so some of them were forced to turn off their equipment.As a result, in addition to the reduction in rewards, the hashrate fell, which led to an increase in the closing time of new blocks and a decrease in their number per unit of time.Therefore, the actual decrease in coin production was 61%.

However, the reduction in hashrate and the number of blocks led to congestionnetwork and a jump in transaction fees from $ 0.62 to $ 5. As a result of this increase in fees, they now account for 17% of the income of miners.

Nevertheless, the growth commission could not cover the decrease in income fromhalvings, which, despite the increase in the exchange rate, fell by 57% over the week from $20.61 million to $8.97 million.In the near future, there will be another adjustment to the complexity of the network, which should slightly improve the situation and simplify the work of the remaining miners.

As Bitcoin develops, mining new coinswill be reduced regularly, increasing the value of commission fees. However, in the future, with high commissions, users will not be interested in transactions.

A similar situation was observed after the Bitcoin Cash halving, but this did not stop the loyal miners.

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