Bitcoin: Increase of Transactions Per Block in 2023
There were trends in the cryptocurrency world as the recent growth of Bitcoinon’s recent increased in block transactions (TPB). From April 2023 to May, a significant Leap was observed, with some reports, even referring to TPB doubling from ~ 2000 to ~ 3000.
What is transactions per block?
Before we get into the details, we quickly understand what tpb refers to. TPB Measures This indicator provides a valuable insight into the General Activity and use of the Bitcoin Network.
Why the overvoltage?
Many Factors Could contribute to this in tpb:
- Increased adoption :
2.
. This led to increased control of miners who supported safe methods for mining cryptocurrencies.
- Increased blockchain activity : as decentralized applications (dapps) and other blockchain projects increase, the network activity level has reached the turning point.
Size of Serialized Utxo Set
As This represents an increase of about 200% in a few months. A larger utxo set means that more transactions can be stored on the blockchain, which can result in increased network congestion.
Conclusion
The increase in tpb and the size of the utxo set size were probably made in April-May 2023 a combination of factors. The Bitcoin Ecosystem Further Develops, it will be interesting to observe how these tendencies will unfold in the coming months and years.
Sources:
- [1] “Bitcoin Transaction Block Time Falls Below 10 Seconds” (CoinDesk.com)
- [2] “The New Mining Drilling Plans Improve Efficiency on the Bitcoin Blockchain” (Coinwire.Invest/2023/04/05/New Mining-Designs-AC-Timulve-Haftiveness-Blitcoin-blockchain/)))))))))))))))))))
- [3] “Quantum Calculation Concerns: Increasing Danger to Cryptocurrency Security” (CoinDesk.com)
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