Spamming Continues on Bitcoin Network, Delays Transactions

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The Bitcoin network seems to be under attack again. The digital currency transactions were partially clogged yesterday by what is suspected to be a spamming attempt. As a result, there were reportedly 30,000 transactions queued up in the mempool, awaiting confirmation.

scalability, bitcoin, blockchain

scalability, bitcoin, blockchain

Every time the Bitcoin network comes under attack, it renews the debate on block size and scalability. However, no solid action has been taken by any of the Bitcoin Core developers in this regard yet. The Bitcoin community has been going around in circles for more than a year now, unable to reach consensus with all the stakeholders. The very issue has also killed many alternate Bitcoin Improvement Protocols proposed by some of the well-known developers in the cryptocurrency community.

The delays in transactions caused by spamming the blockchain could ultimately take a toll on the large-scale adoption of Bitcoin. If the issue continues, people may prefer to from Bitcoin to other cryptocurrencies with much faster block discovery times and block sizes. There have been few proposed changes to the Bitcoin Blockchain since the past few Bitcoin Core updates. Segregated Witness or

Read more ... source: NewsBTC USA

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