About BitCoin BlockExplorer
- Hash Rate
- Demonstrates the amount of total computing power that is estimated to secure the bitcoin network. It’s one of the most important elements to bitcoin’s network security. The more hash rate, the greater the level of bitcoin network security and resilience against 51% attacks.
- Where all the valid transactions wait to be confirmed by the Bitcoin network. A high mempool size indicates more network traffic which will result in longer average confirmation time and higher priority fees.
- Average Fee per Transaction
- An easy indicator to understand how much the bitcoin network charges for confirming a transaction and is directly affected by the state of the mempool.
- Number of Transactions
- The number of daily confirmed transactions highlights the value of the bitcoin network as a way to securely transfer funds without a third party. During times of peak mempool congestion, transactions with lower fees are likely to be confirmed after a few hours or even days in rare cases.
- While this one speaks for itself, keeping an eye on the price chart also gives a sense of how the market thinks about the network and specific tokens on a daily basis.