Transaction on the Bitcoin Network?

Network commissions are the confirmation costs for each transaction made on any blockchain network, regardless of the cryptocurrency responsible, and it is directed to the miners of said blockchain.

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In general, in almost all cryptocurrencies, the value of the commission is not calculated based on the value of the amount sent, but is calculated based on the size of the transaction in (bytes), for example, a commission made to a transaction. made for 1000 Bitcoins may be lower than one made for 0.1 Bitcoin.

It should be noted that the commission is a donation made by the users of the blockchain network to the miners, therefore the miners select which transaction pays the most in satoshi/byte ratio, taking the Bitcoin blockchain as an example, these transactions are obtained by the miners from a system called (Mempool) which analogically is the waiting room for transactions, when this waiting room is overloaded with transactions, the network commission generally goes up, and when there are few transactions in the waiting room, said commission goes down.

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The transaction time varies according to the magnitude of transactions stored in the Mempool system and according to the value per Byte, this time also depends on the cryptocurrency and how much your blockchain is oversaturated, in Ccoins we have a system that automatically calculates the optimal value and fair network commission, to ensure that our transactions have a higher priority and therefore are faster.

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Of course, when users make a withdrawal transaction to external Ccoins wallets they must pay a fee that does not go to Ccoins but to the network commission that is the payment to the miners for the transactions they verify.

No, all transfers between Ccoins wallets are exempt from the network fee, since in this case it would be executed as an internal transfer that would not go through the blockchain.

A transaction on the main Bitcoin network can take around 10 minutes if the network is not congested.

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