Blockspace demand indicates the collective desire for transactional capacity on a blockchain network. This demand is typically measured by transaction fees and the number of pending transactions awaiting confirmation. High demand often results in increased fees and slower processing times.
Context
Fluctuations in blockspace demand frequently appear in crypto news, influencing network congestion and transaction costs for users. Periods of heightened activity, such as NFT mints or DeFi protocol usage, can quickly drive up demand. This metric serves as a key indicator of network utility and user engagement for various blockchain ecosystems.
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