The Number of Unconfirmed Transactions on Bitcoin Network Surges

The Bitcoin mempool are broadcasted Bitcoin network transactions that have not been added to a block. Awaiting transactions in mempool are usually chosen for addition into the freshly mined block according to their transaction fee. However, when the transaction fee is low, it may take longer time for the confirmation of such transaction. In recent weeks, there was a considerable spike in the backlog of unconfirmed transactions on Bitcoin network thereby making the Bitcoin mempool reach its biggest size in…

Bitcoin Transaction Stuck? Here’s Why and What You Can Do

As Bitcoin gains increased mainstream adoption currently being used as a means of payment, the number of transactions on the Bitcoin network has increased significantly over the past few years. And with the recent 2020 Bitcoin halving event, the Bitcoin network is expected to handle even more transactions as more blocks continue filling up. However, with increased transactions, not all of them are verified and added straight away in the blockchain. Sometimes, due to several reasons, Bitcoin transactions fail to…