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BTC - Block Weight (WU)
Description
The Bitcoin Block Weight shows the average weight in Weight Units (WU) of blocks in each time interval. 1 WU equals 4 vBytes. Legacy (non-SegWit) transactions are weighted by a factor of 4 to their size in bytes, so legacy blocks weigh 1 MvB (4,000,000 WU) with 1 MB of data.
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
(x,y) := (block.time, block.weight)
for each hour in blockchain:
hr_blk_weight := avg(blockchain[hr_start:hr_end].weight)
(x,y) := (hour, hr_blk_weight)
for each day in blockchain:
day_blk_weight := avg(blockchain[day_start:day_end].weight)
(x,y) := (day, day_blk_weight)
Technical Info
The 'weight' attribute was introduced to the Bitcoin block design with SegWit in 2017. Assigning SegWit transactions a lower weight and lower fee incentivizes keeping the UTXO ledger size to a minimum.
Block weight is a network activity indicator. In particular, the noticable reduction of variance with sustained high block weights indicates network saturation. Applying moving averages reduces variance and makes saturation appear as a sustained high moving average value.
- Hourly and daily aggregations are derived from block data using average for this metric.
- Hourly data contains occasional gaps; no blocks were generated during these times.
Related Metrics
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