Poolin’s parent company, Blockin, recently launched their blockchain explorer on April 6th, 2020. This new explorer provides miners & participants in the bitcoin network enhanced user interface on standard data found on other blockchain explorers, a BTC reward halving countdown banner, and mempool data.
Blockin’s mempool data
The main feature of Blockin’s blockchain explorer is the BTC mempool section. Users are able to see transaction fee rates, mempool size history, transaction type distribution, and a daily mempool size chart.
Transaction fee rate
The transaction fee rate calculator provides miners with the ability to know optimal transactions fees. This tool calculates fees for transactions that would follow a normal confirmation time, a fast confirmation time, and a ‘Top Speed’ rate that will ensure the transaction is verified in the next block. BTC users benefit by having insight into knowing optimal transaction feeds to accelerate stuck transactions.
Transaction fee rate from Blockin.com
Mempool transaction distribution
The mempool transaction distribution chart in Blockin’s new explorer provides data on the bitcoin protocol used for transactions. This allows developers to analyze performance of Segwit, RBF, and normal transactions.
Transaction distribution chart from Blockin.com
Mempool history & daily size
The mempool daily size and mempool history charts allow for analysis into significant events in Bitcoin that correlate with more transactions being entered into a block. The mempool size is likely to be higher if there are more transactions entering into a block, which will lead to an increase in transaction fees, as transactions compete to enter into the next block.
Transparency for Bitcoin network
Blockin’s new explorer and data on unconfirmed transactions is a move in a direction towards transparency for participants of the bitcoin network.
“We developed our blockchain explorer to help further our mission in providing excellent and necessary tools.” – Alejandro de la Torre, VP, Poolin
For now, the unconfirmed transaction data on Blockin.com is only available for Bitcoin, but other cryptocurrencies are reportedly in development for release at a later date.
Written by: Nate Christenson
Crypto mining journalist & eCommerce Product Manager