The explosion in BTC trading has caused transaction fees for the cryptocurrency to skyrocket. The latest blockchain data shows that Bitcoin transaction fees have increased over 500 percent since the start of the year, with many lower-fee transactions taking hours before being finalized.
In the crypto industry, transaction speeds can make or break a project. The speed and throughput of a blockchain have a large impact on the transaction fees on these networks, and in many cases its success. Bitcoin is the exception.