Bitcoin Transaction Delays: Growing Pains Or Sign of Things To Come?
The recent issues plaguing the Bitcoin blockchain and delayed transaction confirmations has made its way to mainstream media outlets all over the world once again. Some are even calling this recent issue a sign of how Bitcoin payments are failing. While it is certainly true the delays caused a fair amount of frustration; there is no need to despair just yet, as services seem to have returned to normal. A Sign of Bitcoin Growing Pains. Even though mainstream media has no love lost for Bitcoin and digital currency in general, they are paying a large amount of attention to what is happening....
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By the look of things, there is no improvement in sight anytime soon. The Bitcoin memory pool is full of transactions waiting for network confirmations, and the numbers only keep going up over time. Some people might see this as a sign of how Bitcoin is gaining a lot of popularity, but these confirmation delays are not doing anyone any favors right now. Something strange is going on within the Bitcoin ecosystem, as it has become all but impossible to send transactions to other people by paying a low or standard fee these days. Trouble started brewing when someone figured out how all mined....
The Solana blockchain has reportedly suffered another DDoS attack that temporarily clogged the network, however the network appeared to remain online. Solana's blockchain performance was reportedly hit by a distributed denial of service (DDoS) attack over the past 24 hours, however the network appears to have remained online throughout.A DDoS attack generally refers to a large number of coordinated devices, or a botnet overwhelming a network with fake traffic to take it offline. This wouldn't be the first time Solana has suffered this issue, with Cointelegraph reporting in September that....
Coinbase users are taking to the social media to voice their issues with the bitcoin wallet and exchange service provider. Coinbase has been around long enough to make a name for itself. The digital currency wallet and exchange has so far been considered as a yardstick, against which all the exchanges and wallet services are matched. However, the leading digital currency wallet platform seems to be having some growing pains which has left a trail of disgruntled customers. Since Coinbase announced the launch of its GDAX exchange platform, many users have started voicing their displeasure....
On-chain data shows the Bitcoin transaction volume has plunged to a 3-year low, a sign that may not be positive for the cryptocurrency. Bitcoin Transaction Volume Has Continued To Be Low Recently According to data from the on-chain analytics firm Santiment, the BTC transaction volume has seen a decline of 90% since the peak in […]
There are various hurdles to widespread merchant adoption of bitcoin; some of them are tangible, while others are often contrived growing pains. One of the minor issues in the former category that keeps reappearing in community discussion and problem-solving is the wait time required for transaction completions, known as "confirmations" in the bitcoin GUI. Transactions with bitcoin are not fully guaranteed until they are mined in the blockchain, with an average lapse of 10 minutes to find a block. This complex process does take time, but it helps to prevent problems like double spending,....