Some Researchers Think Bitcoin’s Fees Are Too Low

David Dinkins
One group of researchers is calling for higher Bitcoin fees in order to limit the Blockchain’s growth, making it easier for ordinary users to run a full node.
Some Researchers Think Bitcoin’s Fees Are Too Low
Cover image via U.Today

Bitcoin’s fees are too low for all the data that full nodes must store, says one group of researchers. These researchers have released a new paper calling for higher fees depending on how much data needs to be stored by the Blockchain and how long the data needs to be stored. They say that the rapid growth of Bitcoin’s Blockchain is making it increasingly difficult for ordinary users to securely interact with the network using full nodes. The only way to keep the Blockchain’s size from escalating indefinitely, they say, is to charge more for the data stored there.

About the author

David Dinkins is a freelance writer who holds a Master of Arts in history from Louisiana Tech University and has extensive teaching experience both at LSU – Shreveport and University of Phoenix. He got involved with cryptocurrency in early 2014 working as part of the Dash Core Team and have served in the role of writer/editor (mostly editor) during that time. He has edited a huge number of documents for the Core Team, including the Evolution whitepaper, the PrivateSend whitepaper, and many of Evan Duffield’s communications with the Dash Community.