It appears that the decentralized finance bubble has slowed in the final months of 2020, with fees and confirmation times dropping to lower levels.
as Josh Olzewicz, also known as Carpi Noctum on Twitter, explained to Coin Telegraph: The fees for Ethereum are very low, indicating that the craze for decentralized financing has subsided. For the time being.
decentralized financing is calming down, and the bitcoin hash rate is dropping a lot (difficulty adjusting by -16%), referring to the situation on the Bitcoin network (BTC). ). However, the Bitcoin network action is not linked to lower Ethereum fees, Olsevic's opinion. Explained it just happens to be related.
Bitcoin's fragility rate has suffered a recent decline, indicating a decline in the network's mining strength. Over the past several days, the Bitcoin blockchain has experienced high levels of congestion, resulting in longer confirmation times, with many transactions remaining unconfirmed.
The network completed a major difficulty adjustment on November 3, but the low hash rate before the adjustment was the potential catalyst behind the higher fees and clogged network, Olzewicz assumed.
Olesevic said: I'm not sure why Bitcoin's fees are so high. He explained that the fees should have (vanished) from super congestion now, so I'm not quite sure, but the total fees per day are going up on the Bitcoin network ... there could be a lagging effect.
Bitcoin continues to be the spotlight as it challenges a convincing push past its 2019 high, while discussions of Bitcoin adoption by major companies continue.
