On November 15, Bitcoin mempool, which includes unconfirmed transactions, recorded the highest level since January 2018. According to Blockchain.com, its value reached 90 MB, the equivalent of approximately 20,000 pending transactions.
Analysts pointed out that this is an anomaly, because a few days earlier, more than 20,000 unconfirmed transactions were less than 12.6 MB.
According to these data, it seems that last weekend, the average size of transactions was significantly larger than usual.
Bigger transactions generally involve many inputs or outputs, or simply store data on the blockchain.
Bitcoin mempool record was set in 2017
Alex Saunders, CEO and founder of Australian start-up NuggetsNewsAU, commented on the situation tweet from November 17th. He is of the opinion that mempool was loaded by the Binance exchange. Apparently, the platform has moved small amounts of Omni-based Bitcoin or Tether (USDT) from many addresses with the lowest possible fees. This means that transactions are not processed as a priority, which means they remain in the unconfirmed status longer.
The size record of Bitcoin mempool was reached in December 2017 with a value of 120 MB.
At that time, the fees had risen to $ 16 due to the large number of Bitcoin transactions. For this reason, many participants chose not to prioritize transactions, which mempool uploaded.
The miners have no way to close the empty block, which is why they have to enter all the transactions. The block has 1MB and the fuller the more the miner receives more taxes. If all users propagate low-fee transactions (by consensus), miners will be required to include them in the blocks found. Probably the same thing happened now, but the consensus was not 100%.
Their “greed” is fueled by high user fees.
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