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BTC - Block Size (Bytes)
Description
The Bitcoin Block Size shows the size in bytes of each block. This includes witness data from July 2017 onward, which increased the maximum from 1 to 4 MB.
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
(x,y) := (block.time, block.size)
for each hour in blockchain:
hr_blk_size := avg(blockchain[hr_start:hr_end].size)
(x,y) := (hour, hr_blk_size)
for each day in blockchain:
day_blk_size := avg(blockchain[day_start:day_end].size)
(x,y) := (day, day_blk_size)
Technical Info
Block size is calculated by summing up the size in bytes of the block header, transactions, and witness data (if SegWit).
For non-SegWit blocks, block size and stripped size are the same. Witness data plus stripped data makes up each block's total size.
Before SegWit was introduced (July 2017, block height 477,120), Bitcoin's max block size was set at 1 MB (1,000,000 bytes). With SegWit, the theoretical maximum is 4 MB. Since SegWit, not all blocks produced are SegWit blocks; some miners don't like the reduced rewards, and since SegWit is a soft fork miners can choose whether they want to utilize it or not.
Block size is a network activity indicator. In particular, the noticable reduction of variance with sustained high block sizes indicates network saturation. Applying moving averages reduces variance and makes saturation appear as a sustained high moving average value.
- 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.
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