Bitcoin long transaction processing time explained

in #bitcoin7 years ago

Currently the number of pending transactions are at around 55,000.
Looking at the number of average daily transaction processed per month in past 1 year as shown in below graph, more transactions were processed in first 6 months of this year than in the second 6 months. This may be attributed to some bitcoin wallets (Jaxx, Blockchain, Bitgo etc.) implementing dynamic ntwrok fee. Many users have opted to pay less fee, which may be the reason miners may not be having incentive to process them at a priority.
Unusual high number of transaction this month can be attributed to high number of spam transactions which have 0 or very low network fees and may be going to same wallets in order to clog biotin network as part of plan to boost up bitcoin cash (BCH).

foto_no_exif.jpg

Data source - blockchain.info

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