Altcoin News: Miners Earn 8 Times More on Bitcoin Fees Than All Other Cryptocurrencies Combined

May 13, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Bitcoin miners earned about $580,000 per day on transaction processing fees alone, writes the Longhash portal referring to the data of OnChainFx of analytical company Messari.io of 10 May.

This value is more than 8 times the sum of the commissions collected over the same period in the networks of all cryptocurrencies analyzed by Messari combined.

So, Ethereum miners received $68,000 from commissions, or 88% fewer than Bitcoin miners.

The next asset in this line is Litecoin — $1,100. The aggregate amount of commissions paid by Lisk, Bitcoin Cash, Monero, Dash, XRP, Dogecoin and Ethereum Classic users was less than $1,500.

As analysts say, as the size of the rewards for commission blocks decreases, they will become an important incentive for attracting miners to the network, performing an important function to ensure the safety of the Bitcoin blockchain. Many other cryptocurrencies, however, adhere to a different management model, which in their case makes the maximum reduction of commissions a key factor.

Author: Marko Vidrih