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Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%
11.5.2023
On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5....
A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen
11.5.2023
The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between...
First Mover Asia: Bitcoin Ticks Up as Congestion Wanes and Investors Ponder the Next Price Spur
10.5.2023
ALSO: SAM Bankman-Fried's motion to dismiss most charges against him raises questions about the reach of the Commodities Exchange Act
Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues
9.5.2023
Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog...
First Mover Asia: Binance Congestion Chaos Weighs Heavy on Bitcoin
9.5.2023
ALSO: A crypto market analyst calls bitcoin's travails of the past two days "growing pains," and says the largest crypto by market cap "will be fine in the long run."
Bitcoin Falls Below $27.5K as Investors Weigh Meme Mania, Binance Congestion Issues
8.5.2023
Ether’s deflationary narrative continues despite Monday’s price drop. Major crypto assets traded down on Monday
Bitcoin Network Congestion Causes Binance to Pause Withdrawals
7.5.2023
The world’s biggest crypto exchange has now resumed withdrawals, but problems continue to linger for the bitcoin protocol
Binance closes BTC withdrawals amid congestion on the Bitcoin network
7.5.2023
Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed on May 7
Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees
7.5.2023
In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from...
Bitcoin Mempool Overwhelmed With 134,000 Unconfirmed Transactions Amid Price Volatility
26.4.2023
Amidst the buzz surrounding bitcoin’s latest price surge, a significant number of transactions are currently clogging up the mempool. As of writing, 134,986 unconfirmed transactions await confirmation, and block times are lingering above the usual ten-minute mark. Bitcoin Transactions...
Binance suspends LUNA and UST withdrawals citing network congestion
10.5.2022
The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a significant selloff
Bitrue To List SundaeSwap As Cardano’s DEX Gets Off To A Rocky Start
14.2.2022
PRESS RELEASE. SundaeSwap (SUNDAE) has been added to the list of tradable assets supported by leading cryptocurrency exchange Bitrue. This development comes at a time when the launch of SundaeSwap on Cardano (ADA) was met with many technical issues such as congestion which still continue even now....
Ethereum Co-Founder Vitalik Buterin Discusses Proposal to Alleviate Network’s Congestion, High Fees
6.2.2022
Ethereum’s co-founder, Vitalik Buterin, and developer Tim Beiko have been discussing a proposed solution to the data transfer gas problem and current scaling issues. Buterin talked about adding a feature like “blob-carrying transactions” in a “near-future hard...
Solana's Network Congestion Prompts Liquidations, Drives Away Users
24.1.2022
Public blockchain platform Solana (SOL) experienced high network congestion once again over the weekend. The team confirmed the outage, which extended from Friday to Saturday, adding that the network suffered from overload due to bots spamming the network....
Read More: Solana's Network...
JPMorgan: Ethereum Losing Ground to Other Crypto in NFT Market Due to High Transaction Fees, Congestion
21.1.2022
JPMorgan has told its clients that ethereum is losing ground to rival cryptocurrencies, such as solana (SOL), in the non-fungible token (NFT) market due to sky-high transaction fees on the network. “It looks like, similar to defi apps, congestion and high gas fees has been inducing...
Ethereum Transfer Fees Drop From Recent Highs, L2 ETH Solutions Between 46-97% Cheaper
13.9.2021
At the end of August, Ethereum network gas costs skyrocketed and tapped a high of $59 per transaction on September 7, according to the average transaction fee spent on that day. The median fee for an ether transaction on September 7 was around $20 per transaction. Days later, ether transaction fees...
Ethereum network congestion temporarily shuts down crypto gaming casino
12.8.2021
FunFair Technologies-owned KingTiger Casino is now on the lookout for new solutions for hosting “a new range of features and games” for its participants
That Time I Accidentally Started A Pandemic In Cities: Skylines
14.5.2021
To all of the people who live in Ariberg, my Cities: Skylines metropolis, I am truly sorry.Read more
Avalanche Web Wallet Stalls For 6 Hours After Avalaunch Airdrop Snapshot
4.5.2021
The Avalanche cryptocurrency, the first cryptocurrency ever to implement the Avalanche consensus, experienced an outage of service yesterday when its web wallet presented an outage that lasted for six hours. This was the consequence of severe congestion due to an airdrop carried out by AvaLaunch...
DeFi Major Aave Working With Polygon to Bypass Ethereum Congestion
31.3.2021
Whopping gas fees shouldn't limit DeFi to five-figure portfolios, said Aave founder Stani Kulechov