mempool
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The State Of The Mempool by mononautical.
as of Wed Oct 2nd - 21:00 UTC
Although the #mempool now frequently clears transactions below ~2 sats/vb, it remains just under 100 blocks deep, with the lower strata largely unchanged for the last several months.
So what's down there? đ§ľ
here's a snapshot of my entire mempool, color-coded by transaction type.
the top-right square is the next projected block, with subsequent blocks laid out in rows: right to left and top to bottom.
the mempool is dominated by large consolidations of inscription-related dust, highlighted in pink.
the "#BRC20 " token minting craze left behind an huge volume of dust-sized waste outputs.
minters can recoup a small % of their investment by consolidating these at low fee rates.
in blue are "normal" consolidations.
some of these are regular users managing their #UTXOs , but most are exchanges consolidating deposits.
a set of large 6-month-old txs occupying a few blocks to the lower right consolidates dozens of worth of Whirlpool coinjoin fees.
a good chunk of the mempool is still occupied by inscriptions.
the tiny yellow transactions are mostly forgotten token mints, while the larger ones are a mix of new and (very) old media inscriptions.
transactions using op_return are shown in orange.
the raft of small txs near the top of the mempool are "UNCOMMONâ˘GOODS" rune mints.
these are continually replenished, and lurk just below the surface to take advantage of random ebbs in the mempool.
finally, in dark blue we have a handful of "batch payouts" - transactions that split a few inputs into many outputs.
there are a bunch of these related to abandoned token mints in the bottom right of the image, but relatively few other examples.
#bitcoinâď¸ $BTC
Although the #mempool now frequently clears transactions below ~2 sats/vb, it remains just under 100 blocks deep, with the lower strata largely unchanged for the last several months.
So what's down there? đ§ľ
here's a snapshot of my entire mempool, color-coded by transaction type.
the top-right square is the next projected block, with subsequent blocks laid out in rows: right to left and top to bottom.
the mempool is dominated by large consolidations of inscription-related dust, highlighted in pink.
the "#BRC20 " token minting craze left behind an huge volume of dust-sized waste outputs.
minters can recoup a small % of their investment by consolidating these at low fee rates.
in blue are "normal" consolidations.
some of these are regular users managing their #UTXOs , but most are exchanges consolidating deposits.
a set of large 6-month-old txs occupying a few blocks to the lower right consolidates dozens of worth of Whirlpool coinjoin fees.
a good chunk of the mempool is still occupied by inscriptions.
the tiny yellow transactions are mostly forgotten token mints, while the larger ones are a mix of new and (very) old media inscriptions.
transactions using op_return are shown in orange.
the raft of small txs near the top of the mempool are "UNCOMMONâ˘GOODS" rune mints.
these are continually replenished, and lurk just below the surface to take advantage of random ebbs in the mempool.
finally, in dark blue we have a handful of "batch payouts" - transactions that split a few inputs into many outputs.
there are a bunch of these related to abandoned token mints in the bottom right of the image, but relatively few other examples.
#bitcoinâď¸ $BTC
#mononautical
fees are currently elevated because #Bitget dumped a batch of large consolidations in the #mempool at fixed fees of 1 million #sats each.
although they only use about one block's worth of space, this sets a floor of ~27.1 sats/vb to get into the next block until they clear.
#bitcoinâď¸
$BTC
fees are currently elevated because #Bitget dumped a batch of large consolidations in the #mempool at fixed fees of 1 million #sats each.
although they only use about one block's worth of space, this sets a floor of ~27.1 sats/vb to get into the next block until they clear.
#bitcoinâď¸
$BTC
The team behind #fractal has shared insights from their experience using #OP_CAT on the mainnet, particularly related to the Replace-By-Fee (RBF) mechanism. After launching their first dapp and seeing significant trading volume and user engagement, they encountered challenges with OP_CAT transactions during peak events when transaction fees spiked.
They discovered that OP_CAT transactions are structured differently than standard Bitcoin transactions, as they involve concatenating multiple outputs into a chain. This complexity made RBF more difficult because updating the fee required recreating the entire transaction chain rather than just adjusting a single transaction.
To address this, they developed a method to identify and recreate the full transaction chain with updated fees for any pending transactions in the #mempool . While this approach has improved the situation, some transactions still remain pending.
The team emphasized that building on the mainnet provides invaluable learning experiences, and they encourage others interested in contributing to #fractalbitcoin to reach out for support and collaboration.
$FB
They discovered that OP_CAT transactions are structured differently than standard Bitcoin transactions, as they involve concatenating multiple outputs into a chain. This complexity made RBF more difficult because updating the fee required recreating the entire transaction chain rather than just adjusting a single transaction.
To address this, they developed a method to identify and recreate the full transaction chain with updated fees for any pending transactions in the #mempool . While this approach has improved the situation, some transactions still remain pending.
The team emphasized that building on the mainnet provides invaluable learning experiences, and they encourage others interested in contributing to #fractalbitcoin to reach out for support and collaboration.
$FB
