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Unconfirmed Transactions on Bitcoin Network Remain High

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It is reported that BTC.com data shows that at present, the number of unconfirmed transactions across the Bitcoin network is 1816, the network computing power …

Unconfirmed Transactions on Bitcoin Network Remain High

It is reported that BTC.com data shows that at present, the number of unconfirmed transactions across the Bitcoin network is 1816, the network computing power is 309.66 EH/s, and the 24-hour transaction rate is 3.45 transactions/s. At present, the network difficulty is 39.16 T, and it is predicted that the next difficulty will increase by 11.26% to 43.56 T, leaving one day and four hours to adjust.

The number of unconfirmed transactions across the Bitcoin network is 1816

Interpretation of the news:


Bitcoin, as the first-ever cryptocurrency, has faced many challenges in its few years of existence. One of the most significant challenges is in the area of transaction processing speed. The blockchain technology that underlies the cryptocurrency is designed to ensure that transactions are secure, but this comes at a price – transactions take longer to process than they do with other forms of payment.

According to BTC.com data, as of the time of this writing, the number of unconfirmed Bitcoin transactions on the network is 1,816. This means that there are over 1,800 transactions that have not yet been confirmed, despite being broadcasted across the network. This has resulted in increased wait times for users and higher transaction fees.

Another crucial metric to consider is the network computing power, which currently stands at 309.66 EH/s. The higher the computing power, the more secure the network. However, this also means higher energy consumption and more significant competition among miners.

The 24-hour transaction rate is at 3.45 transactions per second (tps), which is relatively low compared to other payment methods. Bitcoin’s network difficulty is currently 39.16 T, with a predicted increase of 11.26% to 43.56 T in the next difficulty adjustment – the time when the network automatically adjusts the difficulty level based on the mining power.

In conclusion, although Bitcoin’s technology is designed to be secure, it sacrifices transaction speed. As the demand for Bitcoin increases, so does the number of unconfirmed transactions, resulting in longer wait times and higher transaction fees. This highlights the need for constant improvements to the technology to ensure that Bitcoin can keep up with the ever-increasing demand.

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