Trust Wallet, a widely used cryptocurrency wallet, has notified users of an ongoing problem with the Bitcoin (BTC) node, potentially causing delays in transactions and the absence of transaction history.
In a recent post on X (formerly Twitter), Trust Wallet disclosed that they are currently facing a BTC node issue, which may result in transaction delays and a lack of transaction history for users.
This instability is attributed to the heightened volume of transactions per block on the Bitcoin network, putting considerable stress on nodes operated by different providers. The increased load on the network is impacting the smooth processing of transactions through Trust Wallet.
The post from Trust Wallet highlighted, “Increased transactions per block in the Bitcoin network are putting pressure on nodes, causing instability across providers.”
The platform’s team assured users that they are actively monitoring the situation and are engaged in efforts to resolve the issue. However, during this period, users may experience missing transaction history for the Bitcoin-blockbook chain for up to six hours, and there is a possibility of encountering failed transactions.
The post expressed gratitude for users’ understanding, emphasizing that the team is diligently working to address and rectify the ongoing issue.
How Increased Transaction Per Block Can Impact Nodes?
A Bitcoin node is a computer or device that actively engages in the Bitcoin network by holding a complete copy of the Bitcoin blockchain. Its primary functions include relaying transactions and blocks to other nodes, contributing to the overall network’s integrity and efficiency. Essentially, it serves as a communication point within the network.
The challenges associated with increased transactions per block in the Bitcoin network stem from several factors. Bitcoin imposes a maximum block size limit of 1 megabyte (MB). Each block can only contain a specific number of transactions within this size constraint.
In times of heightened transaction volume, the surge in the number of transactions awaiting inclusion in a block can lead to congestion and delays in confirming transactions. This is due to nodes prioritizing transactions with higher fees, resulting in a more competitive environment.
Moreover, nodes play a crucial role in receiving and disseminating transactions and blocks across the network. When the number of transactions per block rises, the network’s bandwidth can come under strain. Nodes are required to transmit more data, leading to slower propagation times.
Additionally, the increased volume can introduce latency as nodes vie to broadcast their transactions and blocks swiftly. This competition among nodes can cause delays and potential synchronization issues within the network.
Another critical factor affected by the increase in transactions per block is the demand on computational resources. With a higher transaction volume, nodes must execute more calculations to validate the legitimacy of each transaction and establish consensus within the network.
This heightened computational demand can strain the resources of nodes, resulting in slower processing times and the potential for performance issues. As nodes are tasked with verifying and confirming a larger number of transactions, the overall computational load on the network increases, impacting the efficiency and speed of transaction processing.
