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What is blockchain network congestion?
13.10.2023
Blockchian network congestion results in delayed transaction confirmations, increased costs and a slower user experience
Turbulence in Shibarium’s Debut: $1.7M ETH Stuck and a Crypto Whale Shifts the Tide
17.8.2023
On August 16, 2023, the Shiba Inu meme coin enthusiasts celebrated the unveiling of the second-layer (L2) blockchain, Shibarium. This platform is designed to bolster decentralized app growth while tackling Ethereum’s scalability and transaction fee challenges. Yet, even amidst...
Bitcoin Blockchain Clears Over 187,000 Unconfirmed Transactions Since Last Week
5.7.2023
Throughout the past week, the Bitcoin blockchain has successfully confirmed over 187,000 unconfirmed transactions, as shown by recent statistics. This has not only reduced a significant portion of the congestion but also led to a decrease in onchain fees within the same period. Bitcoin Fees...
Optimism 'Bedrock' Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to 'Superchain'
5.6.2023
The "Bedrock” upgrade will improve the usability of the chain by lowering gas fees and cutting deposit-confirmation times by 90% – pitched as a key step toward the Optimism network's goal of becoming a "Superchain."
Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises
12.2.2023
Since Luxor, a bitcoin mining pool, mined a record-setting 3.96 MB block (#774,628) on the Bitcoin blockchain, block sizes have been larger than they were prior to that block height in the past 12 days. Statistics show that blocks larger than 3 MB are now quite common, and demand for Ordinal...
Ethereum's Confirmations, Not-Really Comebacks, Losing Attackers and 20 Crypto Jokes
27.8.2022
The bear market must go on. This week we learned that bitcoin miners sold 660% more bitcoin in Q2 compared with Q1, while decentralized finance broad total value locked experienced a decline. Ethereum will be 55% complete post-merge, according to Vitalik Buterin, while the first stage of the...
Hash War: Mystery Miner’s Empty Block Attack Makes ABC’s New Blockchain Almost Unusable
28.11.2020
According to various reports, the Bitcoin ABC pro-IFP chain has been under ‘attack’ for a number of consecutive days now. The mystery miner has been mining a great number of sequential blocks, but almost all of them have been empty. The miner who calls himself...
Grin Network Victim of 51% Attack, Unknown Miner Commands 58% of the Hashrate
10.11.2020
The privacy-centric cryptocurrency network Grin (GRIN) has been the victim of a 51% attack according to a number of reports. Allegedly an unknown entity gained control of over 57% of the network hashrate on Saturday. According to the Grin website, the team is recommending people wait...
Defi Boom Fueling ETH Gas Fees, Threatens Viability of Smart Contracts
5.9.2020
Growing Ethereum network transaction fees, which touched new highs recently, are a direct consequence of the increasing number of defi projects and yield farming. Yield farmers need to pay ETH for transactions like moving funds in and out of pools. The increased number of yield farmers leads...
Tim Draper Heaps Praise on Bitcoin Cash
5.9.2020
Billionaire and venture capitalist Tim Draper has praised bitcoin cash after recently purchasing the coin. Lauding the ease of use as well as buying it, Draper encourages his followers to do likewise. Draper’s endorsement comes as the Bitcoin Cash (BCH) community braces for a fork instigated...
Ethereum Network Fees Jump Above Bitcoin Transaction Fees for Two Weeks Straight
24.6.2020
This week digital currency enthusiasts have been discussing network fees, specifically transaction fees associated with the Bitcoin and Ethereum blockchains. Last Sunday on June 21, one Ethereum proponent noted that during the last 16 days, Ethereum users have paid more to leverage the network than...
Is 3 Confirmations Still Enough if F2Pool Can Mine 6 Consecutive BTC Blocks?
18.5.2020
Does F2Pool mining 6 consecutive blocks put the Bitcoin network’s security at risk?
Digi-Yuan Confirmations, Royal Screw-Ups and 20 Crypto Jokes
25.4.2020
Another eventful crypto week. Let's take a look at what happened. So, China's central bank officially confirmed that digital yuan testing is coming soon, and there are reports that McDonald’s, Starbucks, and Subway may take part in its testing. Uniswap and Lendf.Me were attacked using a known...
'Stale' Block Reminds the Importance of Bitcoin Confirmations
8.2.2020
“Bitcoin is stale.” Early champions such as Jon McAffee have been describing the original cryptocurrency as the "true Shitcoin," while to make matters worse, it also recently witnessed the creation of another 'stale' block.
But why is a stale block a problem? Well, for those who don't know, a block...
Average Bitcoin Spender Doesn't Need 6 Confirmations - Mathematicians
20.12.2019
Double-spending an average Bitcoin (BTC) transaction is not profitable and, though exchanges and merchants often require it, sending some sats may not in fact need six confirmations – according to calculations by two mathematicians.
For an average transaction, only one or two confirmations...
New Storm Concept Could Strengthen Bitcoin Cash Instant Transactions
3.9.2019
Software developer Awemany has published a potential alternative approach to instant transactions on the Bitcoin Cash (BCH) network called “delta blocks” or Storm. The idea utilizes weak proof-of-work (PoW) for instant confirmations on Bitcoin Cash. The new Storm concept has piqued...
For Faster Service, Binance Is Accepting Reduced Number Of Confirmations For BTC & ETH Deposits And Withdrawals!
9.7.2019
In a recent report by Binance, it states that Binance is reducing the number of Confirmations needed for deposits and withdrawals on BTC and ETH Networks. To give better support to its clients, Binance has made specific changes following the number of block affirmations required for customer...
Tom Lee Cites 13 Confirmations That the Crypto Winter Is Over
20.5.2019
Fundstrat Global Advisors co-founder Tom Lee has claimed that the Consensus conference has confirmed that the crypto winter is over