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Author: Crypto Breaking News

Bitcoin Transaction Backlog Shrinks, but Over 289,000 Still Await Confirmation

Although Bitcoin’s network transaction fees have decreased and a portion of the unconfirmed transfer backlog has diminished, the protocol still grapples with over 289,000 transactions awaiting confirmation. As of this writing, more than 218 blocks must be processed to fully alleviate this congestion. Bitcoin’s Lingering Transaction Backlog Data collected on May 20, 2023, at 1:35 [...]

The post Bitcoin Transaction Backlog Shrinks, but Over 289,000 Still Await Confirmation appeared first on Crypto Breaking News.

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Bitcoin network congestion eases as mempool clears in February

Author: Andjela Radmilac

United States

Source: CryptoSlate

Feb 25, 2024 01:10

Bitcoin network congestion eases as mempool clears in February

Bitcoin’s mempool is a holding area for transactions broadcast to the network but not yet included in a block. Analyzing the mempool provides insight into network congestion, transaction demand, and fee trends, offering a unique vantage point on the state of the Bitcoin ecosystem. During the final months of 2023 and the early weeks of […]

The post Bitcoin network congestion eases as mempool clears in February appeared first on CryptoSlate.

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Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

Author: Crypto Breaking News

United Kingdom

Source: Crypto Breaking News

May 14, 2023 10:20

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to [...]

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Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees

Author: Crypto Breaking News

United Kingdom

Source: Crypto Breaking News

May 07, 2023 10:30

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees

In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current [...]

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