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BTC - Block Weight, BRC-20-Adjusted (WU)
Description
The Bitcoin Block Weight (BRC-20-Adjusted) shows the average weight in Weight Units (WU) of blocks in each time interval. Unadjusted Block Size shows the adjustment's effect.
1 WU equals 4 vBytes. Legacy (non-SegWit) transactions are weighted by a factor of 4 to their size in bytes, so legacy blocks weigh 1 MvB (4,000,000 WU) with 1 MB of data.
Adjusted data starts at BRC-20's first block: 767430 (Dec 14, 2022)
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
block.weight_adj := block.weight - sum(block.brc20_tx[].weight)
(x,y1) := (block.time, block.weight)
(x,y2) := (block.time, block.weight_adj)
for each hour in blockchain:
hr_blk_weight := avg(blockchain[hr_start:hr_end].weight)
hr_blk_weight_adj := avg(blockchain[hr_start:hr_end].weight_adj)
(x,y1) := (hour, hr_blk_weight)
(x,y2) := (hour, hr_blk_weight_adj)
for each day in blockchain:
day_blk_weight := avg(blockchain[day_start:day_end].weight)
day_blk_weight_adj := avg(blockchain[day_start:day_end].weight_adj)
(x,y1) := (day, day_blk_weight)
(x,y2) := (day, day_blk_weight_adj)
Technical Info
The weight attribute was introduced to the Bitcoin block design with SegWit in 2017. Assigning SegWit transactions a lower weight and lower fee incentivizes keeping the UTXO ledger size to a minimum.
Block weight is a network activity indicator. In particular, the noticable reduction of variance with sustained high block weights indicates network saturation. Applying moving averages reduces variance and makes saturation appear as a sustained high moving average value.
Since BRC-20 inscriptions became popular in January and February 2023, they have saturated the Bitcoin network's block weight headroom (as well as mempool) with low-fee, low-priority transactions. Thankfully, and to the protocol design's credit, we can clearly see with this adjusted metric that there was no underlying transaction interference in the months following the huge transaction inflow from the beginning of February through Mid-April 2023.
- 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.
Related Metrics
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