Bitcoin Transactions Increase 30% After Veriblock’s Primary Network Activation

The end of Veriblock’s tests led to a considerable decrease in the transaction count. The congestion of the network due to this increase in transactions could increase the commissions

VeriBlock, the sidechain for data assurance with Bitcoin hashrate, activated its main network on March 21, significantly increasing the number of transactions carried out through Bitcoin. The end of its testing phase meant a significant reduction in transactions and the activation of its network has reinvigorated the figure, showing the influence of this side chain in Bitcoin.

The numbers are significant.

On March 21, when the VeriBlock main network became operational, the transaction count per day was 298,524. Today, 8 days after the activation, transactions per day reach 393,698, which means a variation of 31%.
The number of transactions has increased coinciding with the activation of the VeriBlock mainnet.

On March 11, as reported by CriptoNoticias, the end of the testing phase of this sidechain meant the decline of almost 30% of daily transactions made through Bitcoin.

The figure coincides with the new impulse of the transaction count, the saturation of the mempool, as well as the increase in the size of the blocks, this according to the researcher Nic Carter, who warned that the times of low commissions could be “reaching its end”.

Carter’s theory seems to be confirmed by the (still discrete) hike in commissions, which has coincided with the increase in transactions derived from VeriBlock. The number of transactions has driven the increase in commissions.

Currently, each BTC has a price of USD 4,097, with an exchange volume of USD 10,720,082,092 in the last 24 hours. Its main exchange market is FCoin, trading mainly against USDT.

Reference: criptonoticias.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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