The Bitcoin network keeps improving in multiple parameters, and this time, mean block size peaked, carrying the heaviest set of transactions on record.
Block Size Growth Remains Organic
A Bitcoin block has a variable size, though relatively small blocks usually propagate. There is no target or limitation, and the Bitcoin network has not set out to deliberately distribute large blocks. The record for BTC was purely organic, achieving a mean block size of 1.312 MBs.
1/ Bitcoin hit a new all-time high mean block size yesterday pic.twitter.com/txzGXoAhaj
— Nate Maddrey (@natemaddrey) December 18, 2019
The observation also shows the Bitcoin network has gone through an almost constant growth in block sizes, managing to distribute the larger blocks through all nodes.
The larger blocks started getting produced on a day of significant activity, when most blocks were filled. Transaction fees were slightly higher at $0.29, up from all-time lows around $0.05, but the full blocks so far have not coincided with congestion.
The large block…