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Mean Tx Fee per Byte (native units)
The mean transaction fee per byte of all blocks that interval in native units.
- 0-fee transactions are included
- Computed as FeeTotNtv / BlkSizeByte
- If there were no transactions that interval, this metric isn’t computed
Any blockchain where users are paying for block space rather than computation.
During the BTC mining ban in China in 2021, we saw an influx of miners turn off their operations so the block interval time increased significantly due to less hash power on the network. In effect, because less miners were online, we saw a spike in the mean transaction fee per byte since less miners were available to include transactions in the blocks, therefore transactions costs higher before the next difficulty adjustment.
- Release Version: NDP-EOD 4.8 (Nov, 2020)