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Author Topic: Altcoins Also faces Congestion?  (Read 271 times)
LogitechMouse
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November 28, 2023, 03:50:31 AM
 #41

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Now a question arises again in the mist of the bitcoin network congestion. Since Altcoins are depending on bitcoin on any necessary upward movement, does it mean that altcoins network also congesting to produce high transaction fees? This has been in my mind for sometimes so I decided  to ask it today. Have you heard of it because I have not heard of it. Or the congestion is for all the cryptocurrencies?
There will be times when altcoins will face congestion, but the reason will not be Bitcoin having congestion.
It will be hype that's the reason why altcoins will face congestion.

I still remember the time when BSC had problems with transactions - I mean not a problem, but a sudden increase in transaction fees, and I think the reason for that was the new projects that were being created under the BSC network. Another one is when NFTs are hyped under the Ethereum Blockchain. The transaction fees of Ethereum at that time were way higher than that of Bitcoin today, and it also came to a point where people were paying more on the fees than the price of the NFT itself because they didn't want to get left behind.

To answer your question, yes altcoins faces congestion as well, but not because of Bitcoin, but because of hype around them.

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November 28, 2023, 04:09:15 AM
 #42

This is only a temporary situation due to tissue density and will eventually return to normal on its own. The performance of BTC and Alcoins is of course different and the impact felt by Altcoins is not the same. See what networks used by altcoints are very different from BTC if there are only a few natural ones.

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November 28, 2023, 04:17:27 AM
 #43

Bitcoin been the king in the crypto world is facing a very severed congestion problem and things are not working well with businesspeople that doing business with bitcoin and small-scale businesses that are accepting bitcoin for transaction so in the period there are some altcoins can use the opportunity to skyrocket their coins. And if altcoins do well in this period, then they will make a lot of money as profit because many customers of bitcoin will join the most performing altcoin (s).

Now a question arises again in the mist of the bitcoin network congestion. Since Altcoins are depending on bitcoin on any necessary upward movement, does it mean that altcoins network also congesting to produce high transaction fees? This has been in my mind for sometimes so I decided  to ask it today. Have you heard of it because I have not heard of it. Or the congestion is for all the cryptocurrencies?
I don't really think that altcoin has network conjection like bitcoin. Altcoins are not transacted the way bitcoin is been transacted. Bitcoin has the highest frequent transactions in a day compeard to altcoins, even if altcoin has network conjection it will be less. But we can as well take advantage of altcoins now the transaction fee of bitcoin is high. Example is Tron. even If any other currency is high in trx fee it still remain a fast and easy means of trx. And the reason behind this in my understanding is because it has no friquent trx like other currency.

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Mate2237 (OP)
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November 28, 2023, 05:11:51 PM
 #44

This is only a temporary situation due to tissue density and will eventually return to normal on its own. The performance of BTC and Alcoins is of course different and the impact felt by Altcoins is not the same. See what networks used by altcoints are very different from BTC if there are only a few natural ones.
This is the is the second time in which the Bitcoin network is congesting and it is not a good happening in the future of Bitcoin. Because of f this people will use other coins more than Bitcoin. And once it happens in that way whereby the majority of people will abandoned Bitcoin for for other coins. Because Bitcoin is making things hard for the ordinary people to use. Or is it that it is the government that is doing this to destroy Bitcoin? Frankly speaking, I am not happy about this whole thing.

You are saying a temporary thing and it will not last. This is more than 3 weeks now and there is no shaking of the price and it still very high. This high price have mad some people to be vet angry for Bitcoin. They are questioning the decentralized nature of Bitcoin at this junction.









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March 06, 2024, 09:49:53 PM
 #45

I just heard that Solana network is congested so many people can't withdraw or make a transaction with the network again. And this is the first time that I am hearing that altcoins is also facing some kind of congestion. And that means people that using that coin is very much like bitcoin because before a cryptocurrency from the altcoins section faced a congestion that means people are much using the coin. And that means people that are using Solana coin so much more than Ethereum as well. Or is it that Solana network is not large as Ethereum?









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