Interest per week
Interest per year
According to data provided by crypto research firm CoinMetrics, Bitcoin's block time has been on the rise for two days in a row. This means that the much-anticipated reward halving might arrive a bit later if the slowdown persists.
7,700 more blocks
Each Bitcoin block contains about 1 MB of transaction data. Miners confirm them roughly every 10 minutes by solving complex computational math problems. In return, they get the reward that currently stands at 12.5 BTC per block.
At press time, 7,700 more blocks need to be confirmed before the next halving occurs in about 63 days. They will be added to the blockchain that represents a complete history of all transactions.
CoinMetrics shows that some blocks on the network now take up to 90 minutes to find.
The big debate
Confirmation times usually spike in lockstep with the price. During the peak of the Bitcoin boom in December 2017, it could take hours to make one transaction when the memory pool became full. Users also have to pay enormous fees on top of that.
Bitcoin Cash (BCH) and Bitcoin SV (BSV) tried to solve this problem by increasing their block size to 8 MB and 128 MB respectively, but these forks have a major trade-off -- centralization.