This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow the link below. Over the past few weeks, people have been complaining about high transaction fees and slow confirmation times on the bitcoin core network. Since then other coins like bitcoin cash, dash, and litecoin have seen price news btc bitcoin analysis december 23 2017 and more people utilizing these blockchains for lesser fees and more reliable settlement times.
Wikileaks Founder Responds to Banking Blockade 2. Currently, the Bitcoin core network is the most used as far as transaction percentages are concerned. The transaction queue otherwise known as the mempool is full, and has overunconfirmed transactions at press time, according to Blockchain. The aggregated news btc bitcoin analysis december 23 2017 recorded by Bitcoinfees. The amount of transactions tx per day, per block, and the fee rate per tx has led to an average processing time of 34 to 1, minutes according to Blockchain.
At the moment, the Bitcoin Cash network has fewer transactions news btc bitcoin analysis december 23 2017 day than the Bitcoin core blockchain. At the current trajectory, the BCH network is about to surpass the daily transaction rate of the Litecoin protocol. Moreover, a great majority of the time unconfirmed BCH transactions are also cleared after a block is processed.
The average confirmation time is between minutes for BCH transactions, Bitinfocharts explains. The bitcoin cash mempool is cleared consistently as mentioned above, and even when transaction congestion adds up a mined BCH block usually clears the entire backlog. For instance four days ago the mining pool Viabtc processed an 8MB block that confirmed every transaction that was unconfirmed in one fell swoop.
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