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Tx-Watch is a real-time Bitcoin (BTC) and Bitcoin Cash (BCH) transaction visualizer.
Each block includes a maximum number of transactions, on BTC there is 1MB of capacity per block (~2,000 transactions), and on BCH there's 32MB (~64,000 transactions). As such, when the networks are congested each block can only confirm a small amount.
On BTC when the network gets congested, users can increase the transaction fees to entice miners to confirm their transactions faster, which can lead to high fees. Since BCH has a much higher capacity the fees increase much slower.
The block-time on both BCH and BTC is, on average, one block every 10 minutes.
There can be - and often are - times where multiple blocks are found in a 10 minute span, and other times where no blocks are found over multiple hours.
This variance is due to the mining difficulty, total network hash-rate, and pure luck. All of which vary over time.
Once the bitcoin mempool is full, transactions need to spend a higher transaction fee such that a miner will include that transaction to confirm it in a block.
Once a block is full of transaction data, each subsequent transaction has to outbid the earlier transactions for the miners to include it in a block. This leads to a fee market where users compete against other users transactions fees, which leads to rapidly increasing transaction fees. This is okay for investing purposes, but destroys the every spending use-case.
This can take days, weeks, or months.
Due to the sub-cent transaction fees, Bitcoin Cash (BCH) enables apps to use micro-payments.
Some of these micro transactions are related to social media apps like memo.cash, noise.cash and read.cash, gaming sites such as blockchain.poker and other applications where cheap fees enable novel features.
We calculate the miner fee in satoshis for each transaction, then multiple that amount by the current price.
All data is best effort to show usage, trends, and fun. This app relies on free API's which may not always be stable. Not intended for scientific purposes.
If there's demand and available API's for more coins we will look into adding more coins. Let us know.
BTC & BCH Transaction / Block Data: Blockchain Socket API
Mempool and transaction fee data: Blockchair API
SLP Token Icons: slp-token-icons