Backlog – DIGIT INFO

A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen

DIGIT — Thu, 11 May 2023 07:35:00 +0000

The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between former Bitcoin developer Gavin Andresen and the network’s […]

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Bitcoin Community Divided: Scaling Challenges Trigger Intense Debate as Mempool Overflows

DIGIT — Tue, 09 May 2023 16:00:13 +0000

This week, the Bitcoin community has been abuzz with discussions about the network’s scaling challenges. As the blockchain’s transfer fees continue to surge, the backlog of transactions stuck in the mempool has hit an unprecedented high. Crypto enthusiasts have been sharing their diverse perspectives on the matter, leading to a flurry of takes across various […]

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

DIGIT — Sun, 07 May 2023 16:30:48 +0000

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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Circle clears ‘substantially all’ minting and redemption backlog for USDC

DIGIT — Thu, 16 Mar 2023 02:01:33 +0000

The stablecoin issuer said as at U.S. banking close on Wednesday, it redeemed $3.8 billion USDC and minted $0.8 billion USDC.

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BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

DIGIT — Thu, 18 Feb 2021 19:30:29 +0000

At the time of publication, there’s more than 69,000 transactions waiting in line to get confirmed by a bitcoin miner. Since bitcoin’s price rise, at certain times, transaction fees have climbed to $10 to $20 per transfer, and people who pay less than the median fee may have to wait a while. However, people might […]

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New Betting Game Allows People to Wager on BTC’s Next Block Fee

DIGIT — Sun, 23 Jun 2019 14:30:03 +0000

Bitcoin core (BTC) prices have been rising sharply over the last few weeks and people have also noticed BTC transaction fees have spiked as well. Now there’s a new gaming site called Guess Bitcoinfees allowing people to bet on the 24-hour average transaction fee for the next day and the site pays out jackpots in […]

The post New Betting Game Allows People to Wager on BTC’s Next Block Fee appeared first on Bitcoin News.

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