16:00 13.05.2020

On May 11, the third in the history of Halving took place on the Bitcoin network at block #630000. The specified block, the reward for which was 6.25 BTC, at 19:23 GMT got the AntPool pool.

Reducing the reward for the block found forced some of the miners to switch to mining Bitcoin Cash. The hashrate of this blockchain grew by more than 130%, which also led to a faster time to create blocks.

The network hash decreased from 122 EH / s to 102 EH / s. Of the four largest mining pools (F2Pool, Poolin, Antpool, BTC.com), Poolin lost the most hashrate - about 30%, and BTC.com lost a little more than 10%.

The decrease in the number of miners led to the fact that very often blocks are generated longer (20-60 minutes), the size of the mempool increased, the number of unconfirmed transactions increased, and the time for confirming transactions increased.

For our part, we constantly monitor the situation in the bitcoin network and adjust the size of the commission so that confirmation takes place in 2-5 blocks.

But sometimes situations arise when a transaction has already been sent for a very long time and cannot be confirmed due to the fact that for a very long time there are no new blocks.

In such situations, we, unfortunately, cannot do anything and we need to wait until the blocks are generated with the usual frequency (up to 10 minutes) and then the transaction will be confirmed.