As of writing, 134,986 unconfirmed transactions await confirmation, and Bitcoin block times are lingering above the usual ten-minute mark.
In essence, the Bitcoin network’s mempool acts as a repository of unconfirmed transactions that must be incorporated in the next block of the blockchain. Every transaction in the mempool comes with its own unique transaction ID, fee, and other pertinent information. Since miners prioritize transactions that offer higher fees, users tend to compete by offering increased fees to expedite the confirmation of their transactions.obtained from the web portal mempool.
Screenshot of mempool.space at 4:30 p.m. on Wednesday, April 26, 2023. At the time, 134,986 unconfirmed transactions await confirmation.
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