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BTC - Transaction Rate (Tx/s)

Description

The Bitcoin Transaction Rate shows the frequency of transactions, averaged over time.

Bitcoin's USD Market Price is included for reference.

Pseudocode

for each block in blockchain:
  blk_tx_rate := block.tx_count / (block.time - block.prev_blk.time)
  (x,y) := (block.time, blk_tx_rate)

for each hour in blockchain:
  hr_tx_rate := avg(blockchain[hr_start:hr_end].blk_tx_rate)
  (x,y) := (hour, hr_tx_rate)

for each day in blockchain:
  day_tx_rate := avg(blockchain[day_start:day_end].blk_tx_rate)
  (x,y) := (day, day_tx_rate)

Technical Info

Bitcoin's transaction rate is controversially slow, much slower than many other cryptocurrencies and traditional finance payment systems. While it is debatable whether or not this is a good thing, layer 2 solutions are working to improve on transaction rate without changing existing specifications.

The Bitcoin transaction rate factors the block production rate into the transaction count to get the average transaction flow rate. Due to high noise at the block-level, using daily data with moving averages is recommended.

  • 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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