Why do bitcoin transactions take a long time to process?
Could you elaborate on why Bitcoin transactions tend to take a considerable amount of time to process? I've noticed that compared to traditional financial transactions, bitcoin can seem slow and cumbersome. Is this due to the decentralized nature of the blockchain? Does the mining process play a significant role in determining transaction speeds? Are there any technical limitations that contribute to the delay? Additionally, how do bitcoin transaction fees impact the processing time, and are there any strategies to expedite the process? Clarifying these points would help me understand the intricacies of the bitcoin network and its transaction processing mechanism.