by Ana Paula Pereira, Coin Telegraph:

The Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed on May 7.

Crypto exchange Binance closed Bitcoin

withdrawals on May 7 due to an alleged overflow of transactions on the Bitcoin network.

The Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed at the time of writing. The mempool is known as the “waiting area” for incoming transactions before they are verified independently by each node on the network.