Hello dear readers, today I wanted to bring you a topic outside the line of price action, as today the Bitcoin network protocol's Temporary Memory has been congested, which in turn has been generating inconvenience among users as the execution time of transactions has been altered.
According to a briefing note uploaded on the CryptoNews portal, Bitcoin's mempool (temporary memory) remains congested, with commission costs getting higher and higher, and many eyes are on the non fungible tokens (NFT) Ordinals.
It has been reported that these digital collectibles came to light just a few days ago for the general bitcoiner public, although they already existed since December, a situation that has negatively impacted the normal functioning of the Bitcoin network.
It was learned that, what is happening is that the volume of pending transactions is saturating many nodes of the Bitcoin network, whose mempool has a predetermined limit of 300 MB. With this high level of congestion has come an increase in transaction fees.
Some specialists have invited to reflect on the fact that, although it may happen that the Bitcoin network will be used to transfer global money, this has not yet happened. And it has been pointed out that what is happening now is that the block space is cheap enough to be used for Ordinals' NFTs.
SOURCES CONSULTED
CryptoNews Bitcoin mempool is congested with transactions and many blame NFTs. Link
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