nico on Nostr: The first thing you need to understand is that Bitcoin has one block every 10 minutes ...
The first thing you need to understand is that Bitcoin has one block every 10 minutes on average. Each box is one block from the blockchain and there you will see when each block was mined… don’t be surprised if you see many all together or long periods of time without a block.. it’s just fine. This is all probabilistic not deterministic
Blocks on the right are the ones mined, with a block number assigned on top. Blocks on the left are an estimation from the platform on what’s comming next. This is what we call the mempool, that means all transactions in memory that haven’y yet being written in a block.
Each transaction comes with a fee, typically expressed in sats/vB or satoshis x byte. So for each transaction you basically pay some sats per byte (I’m not going into the detail of a vbyte here). And those that pay the most, are the ones with higher chances of being written in the next block, while those with small fees paid will probably come at the end
Within each block mined.. you will see a range of sats/vb paid.. the most important part is what was the “minimum” paid to get into that block. (Don’t pay attention to the average on top or the maximum.. just the minimum will be what you need). That will give you an idea on how much you would need to pay if you send a transaction. Yes, your wallet may give you a suggestion but is good for you to be able to read and verify those numbers for yourself
This mempool will also give you an idea on how much you would need to pay for high priority… mid or low.. so if you are lazy or you just want to check that number you can do that as well
Finally out of curiosity .. click on any random and will show you the boxes representing transactions in the block. If you move your mouse over it.. some transactions may look like big blocks but with only 10000 sats as amount.. those are Ordinals
Cheers
Blocks on the right are the ones mined, with a block number assigned on top. Blocks on the left are an estimation from the platform on what’s comming next. This is what we call the mempool, that means all transactions in memory that haven’y yet being written in a block.
Each transaction comes with a fee, typically expressed in sats/vB or satoshis x byte. So for each transaction you basically pay some sats per byte (I’m not going into the detail of a vbyte here). And those that pay the most, are the ones with higher chances of being written in the next block, while those with small fees paid will probably come at the end
Within each block mined.. you will see a range of sats/vb paid.. the most important part is what was the “minimum” paid to get into that block. (Don’t pay attention to the average on top or the maximum.. just the minimum will be what you need). That will give you an idea on how much you would need to pay if you send a transaction. Yes, your wallet may give you a suggestion but is good for you to be able to read and verify those numbers for yourself
This mempool will also give you an idea on how much you would need to pay for high priority… mid or low.. so if you are lazy or you just want to check that number you can do that as well
Finally out of curiosity .. click on any random and will show you the boxes representing transactions in the block. If you move your mouse over it.. some transactions may look like big blocks but with only 10000 sats as amount.. those are Ordinals
Cheers