In a Congested Network, What Is “Transaction Latency” and Why Does It Increase?

Transaction latency is the time delay between a transaction being broadcast by a user and its final confirmation on the blockchain. In a congested network, the mempool is full, and block space is scarce.

Since transactions are processed in order of fee priority, users who bid lower fees experience a longer wait time. This increased wait time, or latency, is a direct result of the competitive fee market and limited block production rate.