Updated: Bitcoin Network Still Backlogged With Tens of Thousands of Unconfirmed Transactions, Causing Delays
Over the past 24 hours, the blockchain has been inundated with small, spam-like transactions that are large in data size, but significantly small in bitcoin value transferred. At the peak, there were more than 50,000 unconfirmed transactions waiting to be mined into a block, resulting in delays for normal transactions to be confirmed. While the network....
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Just as Blockchain.info announced the week between Nov. 20 and 27 to be Bitcoin ’s busiest week ever, several tens of thousands of unconfirmed transactions have popped up on the network again prompting questions about the spike, including: is the journey to mass adoption about to finally take-off? Will this last? Is it a spam attack? Blockchain.info reported that within the week there were two million transactions, a backlog of tens of thousands of transactions to confirm and a record 333,466 transactions processed in a day, resulting in average confirmation times reaching an unusually....
The bitcoin network has begun to show signs of stress as CoinWallet conducts its promised "major stress test" with a twist. Instead of generating all the transactions itself, the UK-based exchange released the private keys to hundreds of addresses containing small amounts of bitcoin. Thousands of transactions have flooded the network as users seek to send the bitcoin held by these addresses to their own wallets. CoinWallet has indicated that it intends to give away $48,000 in free bitcoin using this method. At the time of writing, there were over 70,000 unconfirmed transactions waiting to....
Hash rate has also tumbled on the Bitcoin network. The Bitcoin network has slowed down amid Bitcoin’s (BTC) new price highs, causing a large number of unconfirmed transactions.According to mempool transaction count on Blockchain.com, the number of unconfirmed Bitcoin transactions surpassed 100,000 on Oct. 27. This is the highest number of unconfirmed Bitcoin transactions recorded since late 2017 when Bitcoin hit $20,000.The all-time high of unconfirmed transactions in the Bitcoin mempool was recorded in early December 2017, accounting for about 180,000 transactions, according to data from....
Yes, the number of backlogged Bitcoin transactions climbed above 90,000 and the size of memory pool exceeded 150MB. This is because one London-based Bitcoin exchange decided to give away almost $48,000 worth of Bitcoin free on Thursday. MotherBoard Vice reports that CoinWallet.eu had released 200 Bitcoins at no cost in lieu of conducting its stress test. As a result, users are fervently making transactions in order to receive those coins, which is effectively leading to backlogging of transactions and expansion of the memory pool. CoinWallet.eu slowly released the addresses and private....
Spamming on Bitcoin network fills up mempool with almost 40,000 unconfirmed transactions. The Bitcoin network seems to be under attack again. The digital currency network was clogged yesterday by what is suspected as a spamming attempt, partially disrupting the transactions. The spamming attack has got close to 30,000 transactions queued up in the mempool, awaiting confirmation. Every time the Bitcoin network comes under attack, it renews the debate on block size and scalability. However, no solid action has been taken by any of the Bitcoin Core developers in this regard yet. The Bitcoin....