LONDON, — Yesterday, the Canadian listed crypto mining giant TAAL, announced it was to lowering its mining transaction fees for the BSV network to support enterprise blockchain applications that generate high transaction volumes. In response, CoinGeek Mining has decided to follow suit and match these fee reductions:
- A reduction in the transaction acceptance fee (-blockmintxfee) from 1 satoshi/byte to 0.5 satoshis/byte.
- A reduction in the relay fee (-minrelaytxfee which is the minimum fee required for double spend protection and for relaying of a transaction) from 1 satoshi/byte to 0.25 satoshis/byte.
CoinGeek will regularly review these fee rates with respect to fiat equivalents in order to maintain a fiat stable transaction fee rate; this will provide the price predictability that enterprises want for their data applications.
Recently, Bitcoin SV (BSV) application development has exploded globally, including across Europe, Australia and China, to take advantage of BSV’s greater data capacity and micropayments capability….