Mozilla Removes Four Extensions From the Firefox Browser

7m
nulltx

Blockchain-based bonds: Bank of China issues $2.8 billion in blockchain-based bonds

7m
bitcoinwarrior

Ethereum not conservative enough to occupy Bitcoin’s niche: Andreas Antonopoulos

1h
bitcoinwarrior

Sally Ho’s Technical Analysis 8 December 2019

1h
cryptonewmedia

Sally Ho's Technical Analysis 8 December 2019 BTC ETH

2h
cryptodaily

Ripple Struggles above $0.22 May Face Rejection at $0.23 or $0.24

2h
coinidol

Binance Coin Slightly Outperforms Bitcoin in Year-over-year Growth » The Merkle Hash

2h
cryptonewmedia

Less Than 4 Hours Left, What’s Happening

2h
cryptonewmedia

Microsoft Azure Announces Blockchain Token and Data Management Service

3h
cointelegraph

Here’s how Bitcoin’s role in protesting movements is changing

3h
bitcoinwarrior

Bitcoin On-Chain Momentum Is Crossing Bullish: Willy Woo

4h
cryptonewmedia

Ethtrader Users Are Pleased With the DONUT Token Launch

4h
nulltx

Bitcoin On-Chain Momentum Bullish Again, Traders to Push Prices Higher

4h
cryptonewmedia

Blockchain To Ensure ‘Ethical Provenance of Gold’, Protect Miners Health

5h
cryptonewmedia

Ethereum Istanbul — Faster, but Still Not the World Computer

5h
cointelegraph

Compliant KYC Verification Doesn’t Require Users to Submit Identity Documents » The Merkle Hash

5h
cryptonewmedia

Bitcoin On-Chain Momentum Bullish Again, Traders May Push Prices...

5h
newsbtc

Russian policemen illegally seize mining farm and mine cryptocurrency

6h
coinfox

Bitcoin Price Diary: 6 Altcoins That Are Currently Making Me Avoid BTC

6h
cointelegraph

France to issue digital euro in 2020

6h
coinfox

Analytics: Bitcoin Price Bottom is Close, Bullish Reversal to be “Strong”

6h
cryptonewmedia

Ethereum Is Under Pressure to Bounce; Can It Overcome the Resistance at $150 and $160?

7h
coinidol

Ethereum Client Forgets EIP Inclusion, Asks Users for Another Upgrade

7h
cryptonewmedia

Analytics: Bitcoin Price Bottom is Close, Bullish Reversal to be...

7h
newsbtc

Crypto Tidbits: Deutsche Bank Gives Nod to Bitcoin, EOS to Host Social Media, France Digital Currency

7h
cryptonewmedia


Biggest Bitcoin Mempool Since January 2018 Cleared in Only 2 Days

bitcoinnews

19d 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