Definition ∞ Block space priority refers to the preference given to certain transactions for inclusion in a blockchain block. This priority is typically determined by the transaction fee offered by the sender, with higher fees often securing faster inclusion by network validators. It represents a market mechanism where users bid for limited space within each new block. This system influences transaction confirmation times and overall network usability, especially during periods of high demand.
Context ∞ The dynamics of block space priority are a recurring theme in cryptocurrency news, particularly concerning network congestion and fluctuating transaction costs. Debates frequently arise regarding fairness and accessibility, as higher fees can exclude users with smaller transactions. Protocol upgrades often seek to mitigate these issues by expanding block capacity or refining fee markets to balance demand with network resources.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
