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Bitcoin Network Activity: Pending Transactions, Computing Power and Difficulty Level

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It is reported that according to BTC.com data, the number of unconfirmed transactions across the Bitcoin network is 29173, the network computing power is 302.3…

Bitcoin Network Activity: Pending Transactions, Computing Power and Difficulty Level

It is reported that according to BTC.com data, the number of unconfirmed transactions across the Bitcoin network is 29173, the network computing power is 302.34 EH/s, the 24-hour transaction rate is 3.61 transactions/s, and the current network difficulty is 39.16 T. It is predicted that the next difficulty will increase by 3.19% to 40.40 T, and there are 9 days and 15 hours left before the adjustment.

The number of unconfirmed transactions across the Bitcoin network is 29173

Interpretation of the news:


The message provides an overview of the current state of the Bitcoin network in terms of its activity, power, and difficulty related to the use of the digital currency. According to BTC.com data, the number of unconfirmed transactions in the network is currently at 29,173, which means that there are that many transactions that are yet to be confirmed by miners. This situation is not particularly unusual for Bitcoin, as the network transactions can fluctuate depending on the demand and supply of the currency.

The network computing power, which is the amount of computational resources used by miners to secure the network and validate transactions, stands at 302.34 exahashes per second (EH/s). This figure reflects the significant growth in Bitcoin’s mining activities over the past few years, as more and more users and businesses have adopted the cryptocurrency. It also indicates that Bitcoin is becoming an increasingly competitive space for miners as they strive to earn rewards for validating transactions.

The 24-hour transaction rate stands at 3.61 transactions per second (TPS), which also shows a steady increase in the use of Bitcoin as a payment system. However, despite its growing popularity, the current transaction rate remains relatively low compared to the processing capabilities of other payment networks such as Visa, which can process up to 24,000 TPS.

The current network difficulty level is at 39.16 trillion (T), representing the level of computational difficulty miners need to solve to release a new block of transactions onto the blockchain. The higher the difficulty level, the more difficult it becomes to mine Bitcoin, which makes the network more secure against hacking or other malicious activities.

The message further predicts that the next difficulty level will increase to 40.40 T, a rise of 3.19%, which is expected to take place in 9 days and 15 hours. This adjustment will have implications for Bitcoin miners, who will need to upgrade their computing resources to stay competitive and continue earning rewards. Overall, the message shows that Bitcoin continues to be a dynamic and evolving network, with ongoing developments that impact its performance and security.

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