◽Transaction time

Influence on confirmation time

The mempool can affect how long it takes for a transaction to be confirmed in several ways:

Higher network usage leads to longer wait times

When more transactions are added to the mempool, it takes longer for miners to process and include them in a block.

Prioritization of higher fees

Miners will typically prioritize transactions with the highest transaction fees, meaning lower fee transactions have longer waiting times.

Mutable mempool transactions

In contrast to the immutable blockchain, transactions in the mempool can be replaced, canceled, or updated by the originating wallet at any time. If your transaction is taking a long time to be processed, you can sometimes accelerate confirmation by "replacing" it with an identical transaction but with a higher fee.