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Popular cryptocurrency wallet Trust Wallet has alerted users about an ongoing issue with the Bitcoin (BTC) node that may result in transaction delays and missing transaction history.
In a Thursday post on X (formerly Twitter), Trust Wallet said they are “experiencing a BTC node issue” that could lead to transaction delays and missing transaction history.
The instability is a result of the increased number of transactions per block on the Bitcoin network, placing significant strain on the nodes operated by various providers.
“Increased transactions per block in the Bitcoin network are putting pressure on nodes, causing instability across providers,” the post read.
Trust Wallet’s platform team said it is actively monitoring the situation and actively working to address the issue.
However, users may encounter missing transaction history for the Bitcoin-blockbook chain for a period of up to six hours, along with the possibility of failed transactions.
“We appreciate your understanding, and our team is working diligently to address this issue,” it added.
Important BTC Node Update
Dear Trust Wallet Users,
We want to inform you that we’re experiencing a BTC node issue. Here are the details:
Cause: Increased transactions per block in the Bitcoin network are putting pressure on nodes, causing instability across providers.…
— Trust Wallet (@TrustWallet) November 29, 2023
How Increased Transaction Per Block Can Impact Nodes?
A Bitcoin node refers to a computer or device that participates in the Bitcoin network by maintaining a full copy of the Bitcoin blockchain and relaying transactions and blocks to other nodes.
Essentially, it acts as a communication point within the network.
Increased transactions per block in the Bitcoin network can put pressure on nodes due to several reasons.
For one, Bitcoin has a maximum block size limit of 1 megabyte (MB). Each block can only accommodate a certain number of transactions within this size limit.
When there is a surge in transaction volume, the number of transactions waiting to be included in a block increases. This can result in congestion and delays in confirming transactions, as nodes prioritize transactions with higher fees.
Furthermore, nodes need to receive and propagate transactions and blocks across the network.
When the number of transactions per block increases, the network’s bandwidth can become strained. Nodes have to transmit more data, leading to slower propagation times.
Additionally, increased latency can occur as nodes compete to propagate their transactions and blocks, resulting in delays and potential synchronization issues.
There is also the issue of computational resources.
As the number of transactions per block increases, nodes need to perform more calculations to verify the validity of each transaction and ensure consensus.
This can strain the computational capacity of nodes, leading to slower processing times and potential performance issues.
The post Trust Wallet Warns Users May Face Transaction Delays and Missing History Amidst Bitcoin Node Instability appeared first on Cryptonews.
