Bitcoin ‘under siege’ by BRC-20 coins with soaring fees, claims analyst
Bitcoin transactions and fees are at high levels, and 400,000 of them are still unconfirmed on the blockchain. Go to Source Powered by WPeMatico
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Bitcoin Community Divided: Scaling Challenges Trigger Intense Debate as Mempool Overflows
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 … Read more
‘Bitcoin is not under attack:’ BTC maxis allay fears of a DoS offensive
Concerns circulated on Crypto Twitter of a denial of service (DoS) attack on the Bitcoin network. Go to Source Powered by WPeMatico
Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days
Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million. More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth … Read more
Binance closes BTC withdrawals amid congestion on the Bitcoin network
Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed on May 7. Go to Source Powered by WPeMatico
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 … Read more
Memecoin hype drives Bitcoin transaction fees to multi-year highs
Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from the all-time high levels. Go to Source Powered by WPeMatico
Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases
Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks. Bitcoin Difficulty … Read more
BRC20 Token Standard Sparks Frenzy in Bitcoin Community With Market Cap Surpassing $95 Million
As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using Ordinals and a swelling market capitalization exceeding $95 million, this new … Read more
Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change
While the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half zettahash or five hundred quintillion hashes per second. Bitcoin’s Hashrate … Read more