Blockchain running slow
Bitcoin‘s blockchain is running slow at the moment I have 2 stuck transactions. I note some wallet providers like Xapo are providing 2 options where you can pay a higher transaction fee to be processed faster.
But does this stuck transaction problem indicate a problem with Bitcoin. For me the answer has to be SEGWIT (segregated witness). This would immediately reduce the speed and capacity of the Bitcoin network.
At present there are about 194000 unconfirmed transactions, but they are being processed. You can see them here.
Something needs to be done – and is being done but it takes time, even when a soft fork like SEGWIT is activated the miners have to be enabled to process the new blocks. Could it be that this is the source of the problem? Not that we don’t have enough miners, but that the miners that are running are running newer mining software and unable to process the majority of transactions that are in the old format?
Incidentally there is talk that the virus that has infected many computers around is affecting the blockchain, but I can’t quite understand why unless it’s affecting mining, which, is nearly impossible unless the machine is running Windows and is doing GPU/CPU mining which I find highly unlikely.