Network Fee

V 2.0

Network fee is included in your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network.

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Contents

The space available for transactions in a block is currently artificially limited to 1 MB. This means that for your transaction to be processed quickly you will have to outbid other users. A transaction fee depends on two factors: the size (length in bytes) of the transaction; and the prevalence of the Network Fee. Network Fee is a floating value that increases and decreases in response to network transaction volume. Network Fee is calculated by statistical analysis the number of blocks.

Estimates the approximate fee per kilobyte needed for a transaction to begin confirmation within target blocks if possible and return the number of blocks for which the estimate is valid. Uses virtual transaction size as defined in BIP 141 (witness data is discounted).

fee type  
ECONOMICAL (by default) Current minimal fee rate.
CONSERVATIVE A conservative estimate potentially returns a higher feerate and is more likely to be sufficient for the desired target, but is not as responsive to short term drops in the prevailing fee market.
blocks (optional) Numeric block number where estimate ECONOMICAL and CONSERVATIVE was found. Default 10.

Simple requests:

Parameter blocks is integer from 1 to 1000, optional.

Code Example


Format and Variables:
Parameter Variables Present Experiment with a value
{blocks}

Count of blocks
The count of blocks when transaction will approximately include into block.

Optional
  Reset Values Execute
Response from server:
{ "economical": "1500", "conservative": "987", "blocks": "10" }

Success response:

{
"economical": "1500",
"conservative": "987",
"blocks": "10"
}

Error Response

Error response return messages in plain text format below:
Wrong value.