Bitcoin Reduced the Price of the Commission to a Record Minimum

Bitcoin Reduced the Price of the Commission to a Record Minimum

Now the commission in the Bitcoin network is slightly less than one satoshi for a byte of information, which is about 10 cents per 100 satoshi. This news has been reported on Twitter by the user Armin van Bitcoin who confirmed his words with a screenshot of the transaction on the network, which made it clear that the cost of the operation is 282 satoshi, and the commission took only 0.665 satoshi.

https://twitter.com/ArminVanBitcoin/status/966767198571294720

It is also worth noting that in the last few weeks, the bitcoin mempule has decreased from 140 MB to 5 MB, and the number of unconfirmed transactions has dropped to 7,000.

Such indicators were influenced not only by the launch of the Lightining Network protocol, which was created to scale bitcoins, but also by so-called batching which is the process of merging a group of several transactions into one, which has already become a rather popular way to reduce commission. For example, batching is used by the well-known ShapeShift platform, which carries out about 10,000 transactions a day.

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Cryptocurrency Prices: The Rating Is in the Red Zone

Cryptocurrency Prices: The Rating Is in the Red Zone

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) fell by 2.27% in the last 24 hours. The price at the time of writing is $8122.

The prices of cryptocurrencies are jumping again. Only yesterday they were growing, but today the rating is showing red numbers again. Ripple decreased by 3.27%, Monero lost 6.31%, Stellar fell by 5.10%, the price of EOS is also in the red zone – it dropped by 2.76%.

Ethereum is showing a fall by 2.95%. Its value at the time of writing is $682 per coin.

The total market capitalization is $370 billion. Bitcoin accounts for 37.3% of the total amount. It is $138 billion in monetary terms.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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