Aggregate ERC20 Market Cap Outpaces Valuation of ETH in Circulation by $2 Billion

14m
thebitcoinnews

WBD236 - Bitcoin UX & Marketing with Dan Held

15m
letstalkbitcoin

Bitcoin is Flashing Signs of Weakness as It Trades Below Crucial Level

33m
bitcoinist

101Investing: New crypto broker tested

1h
cryptoticker

A Panel of Experts See Bitcoin Averaging $12,948 by Year End

2h
thebitcoinnews

Crypto Adoption: Newly Launched Binance Card To Serve 60 M Plus Merchants Across Europe

2h
coingape

Economic Expert: Libra, Interesting But Will Never Launch

2h
coininsider

Can Chainlink’s Market Cap Surpass That Of BCH and BSV Combined?...

2h
zycrypto

Investors Expect Chainlink To Reach $10 Before Bitcoin Recaptures $10,000

2h
zycrypto

Appeals Judge Allows NY Investigation Into Tether Stable Currency

3h
livebitcoinnews

Did this Texan falsely file for PPP loans only to buy crypto with the funds?

3h
zycrypto

Did‌ ‌this‌ ‌Texan‌ ‌falsely‌ ‌file‌ ‌for‌ ‌PPP‌ ‌loans‌ ‌only‌ ‌to‌ ‌buy‌ ‌crypto‌ ‌with‌ ‌the‌ ‌funds?

3h
zycrypto

Chainlink Sees “Off the Chart” Exchange Inflows as Whales Look for an Exit

4h
bitcoinist

Bitcoin Could Soon Enter a Bull Run, Indicator Shows

4h
cryptoglobe

Why Bitcoin.org’s secret owner wants Bitcoin price to stay in the...

4h
zycrypto

Binance Rolls Out Crypto Debit Card in Europe and UK

4h
zycrypto

From Politics to Crypto: The BTC Journey of Craig Bergman

5h
livebitcoinnews

Block Crunch - Why Avalanche is Not an Ethereum Killer - John Wu, Ava Labs

5h
letstalkbitcoin

Nearly 60% Of Bitcoin Investors Say They’ll HODL To The Grave If The Price Stays Below $10,000

5h
zycrypto

US Army Requests Information on Tools to Track Cryptocurrency Transactions

5h
thebitcoinnews

Bitcoin & Cryptocurrency FinTech Apps Outperform Non-Crypto Peers: Report

5h
coingape

Bitcoin Closing Beneath One Crucial Level Could Decimate Altcoins

6h
bitcoinist

TTS 266 Elections, Lockdowns, Protests, and Liberty: Live from PorcFest with Ernest Hancock

6h
letstalkbitcoin

Cryptocurrency News Roundup for July 14, 2020

6h
beincrypto

Strong fundamentals mean Cardano (ADA) could keep up with its July rally

6h
cryptoslate


Biggest Bitcoin Mempool Since January 2018 Cleared in Only 2 Days

bitcoinnews

8mon ago

On 15 November, the Bitcoin mempool saw its biggest flood since January 2018, with the mempool size hitting 94 MB at one point. However, it only took two days for the mempool to completely clear out in this case. This situation is a testament to the efficiency of the Bitcoin network.

The mempool is all of the transactions that are unconfirmed, meaning they have not been included in a block yet. The mempool periodically spikes to 5-15 MB, but this week 90,000 transactions totaling 94 MB flooded in all at once. Apparently this mempool flood was caused by a Bitcoin user consolidating all of their dust transactions.

Essentially, over time a Bitcoin wallet can build up dust in it, which is small transactions on the order of 1-100 satoshis, where a satoshi is the smallest unit that a Bitcoin can be divided into. Dust is accumulated due to transactions leaving all but 1 satoshi in a Bitcoin address for example.

Due to network fees, this dust is usually inaccessible, but due to a slowdown in Bitcoin activity fees have recently dropped low enough so that users can profitably consolidate their dust. This is why a Bitcoin user decided to consolidate nearly 100 MB of dust transactions all at once on 15 November.

Fortunately, network activity remained low, so it only took two days for all of these dust transactions to be confirmed and leave the mempool. This shows that the Bitcoin network is currently highly efficient in clearing out large mempool backlogs.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments