Should other Bitcoin wallets implements blockchain's transaction fee estimator??

in #cryptocurrency7 years ago

The holding area for unconfirmed transaction waiting to be picked by the miners ,a large number of bitcoin transaction were unconfirmed for days despite the attachment of high fees

It is due to the variation in the size of bitcoin transactions.Unlike the Ethereum network or other specific blockchain network have different sizes depending on the number of inputs and outputs .Currently ,the median size of bitcoin transactions can greatly vary at times.

Thus ,users of wallet platforms that had fixed transaction fee recommendations which failed to take the varitions in bitcoin transaction size into consideration struggled with significant delays with their transactions . Instead of calculating the size of the transactions and recommending fees based on the transaction size , the vast majority of wallet platforms simply offered two options :low or high fees that ranged from $0.5 to $2.5