Bitcoin Network Loaded With Transactions of One Satoshi

November 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

In the Bitcoin mempool this Friday, a sudden accumulation of small transactions was formed. At the time of publication, the size of the mempool is approaching 100,000 unconfirmed transactions.

Image credit: blockchain.com

Moreover, the vast majority of such transactions have a small processing fee, which does not interfere with the normal use of the network by ordinary users.

“A large entity consolidating all their small UTXOs at 1 sat. Taking advantage of less txs during the weekend to clean it up. Bitcoin working as intended with no impact for users,” writes WhalePanda on Twitter.

In general, the Bitcoin network has been characterized by reduced activity over the past few days, and not so much money has been transferred to exchanges. In 24 hours, the volume of transactions in the blockchain amounted to $1 billion — a relatively small amount. The number of confirmed transactions is growing, as miners process these transfers one at a time due to free space in blocks.

According to bitcoinfees.info, the commission for transferring transactions on the Bitcoin network over the last day has changed slightly and is still less than $1 to receive the fastest confirmation.

Author: Marko Vidrih