Transaction accelerator: Difference between revisions
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==Bitcoin transaction accelerators== | ==Bitcoin transaction accelerators== | ||
Caution: As editors, we strive to present you with the most reliable accelerators in the industry. However, we strongly encourage you to conduct your own research by reviewing authentic feedback and verifying the legitimacy of the businesses. It's important to be aware that there are numerous purported transaction accelerators that are, unfortunately, fraudulent schemes. Some of these claim to collaborate with mining pools on your behalf. Yet, due to the challenges in verifying such claims and the past contentious discussions around providing an exhaustive list, we have refined our approach. | |||
Hence, we are now exclusively listing accelerators that are definitively and verifiably operated by established pools or miners, possessing a minimum of 0.1% of the total network hash rate. This stringent criterion has been adopted to ensure the accuracy and reliability of the information we present. | |||
===Mining Pool Accelerators=== | ===Mining Pool Accelerators=== | ||
A mining pool may offer a premium service in which they will prioritize a transaction, usually for a fee. The ability for that pool to get a transaction confirmed is limited to their ability to get a block confirmed -- and most pools have a tiny [https://www.blockchain.com/pools fraction of the hashrate]. For example, if a pool has 10% of the hashrate, they mine about a block every 100 minutes (1 hour and 40 minutes), on average. If a pool has 5% of the hashrate, then they mine one block about every 200 minutes (3 hours and 20 minutes), on average. | A mining pool may offer a premium service in which they will prioritize a transaction, usually for a fee. The ability for that pool to get a transaction confirmed is limited to their ability to get a block confirmed -- and most pools have a tiny [https://www.blockchain.com/pools fraction of the hashrate]. For example, if a pool has 10% of the hashrate, they mine about a block every 100 minutes (1 hour and 40 minutes), on average. If a pool has 5% of the hashrate, then they mine one block about every 200 minutes (3 hours and 20 minutes), on average. | ||
* https:// | * [https://binance.com Binance Pool] - is a prominent cryptocurrency mining pool operated by Binance, one of the world's leading blockchain and cryptocurrency exchange platforms. In addition to its mining services, The Pool offers exclusive transaction acceleration services for VIP users, ensuring swift confirmation of their cryptocurrency transactions. | ||
* [https://pool.viabtc.com/tools/txaccelerator/ ViaBTC] - Working as of December 30, 2020. ViaBTC implemented this service to protest against the prior 1MB limitation of the Bitcoin network. ViaBTC gives priority to user-submitted transactions for the next mined blocks by the ViaBTC pool. The only requirement is the transaction must include a minimum fee of 10 sat/B. The free-to-use nature of the service may have made it widely popular as every hour, the number of transaction requested reaches its limit (of 100) and it is common to be presented with the message “Submissions are beyond limit. Please try later.” on the top middle of the page. This means one must wait for the next hour to try a new submission. After submitting a transaction, there is a wait for the next block to be mined by ViaBTC Pool. | * [https://pool.viabtc.com/tools/txaccelerator/ ViaBTC] - Working as of December 30, 2020. ViaBTC implemented this service to protest against the prior 1MB limitation of the Bitcoin network. ViaBTC gives priority to user-submitted transactions for the next mined blocks by the ViaBTC pool. The only requirement is the transaction must include a minimum fee of 10 sat/B. The free-to-use nature of the service may have made it widely popular as every hour, the number of transaction requested reaches its limit (of 100) and it is common to be presented with the message “Submissions are beyond limit. Please try later.” on the top middle of the page. This means one must wait for the next hour to try a new submission. After submitting a transaction, there is a wait for the next block to be mined by ViaBTC Pool. | ||
Latest revision as of 17:49, 30 December 2023
What to Do if Your Bitcoin Transaction Gets "Stuck"
The number of transactions on the Bitcoin network has steadily increased over the years. This means more blocks are filling up. And as not all transactions can be included in the blockchain straight away, backlogs form in miners’ “mempools” (a sort of “transaction queue.”)
Miners typically pick the transactions that pay the most fees and include these in their blocks first. Transactions that include lower fees are “outbid” on the so called “fee market,” and remain in miners’ mempools until a new block is found. If the transaction is outbid again, it has to wait until the next block.
This can lead to a suboptimal user experience. Transactions with too low a fee can take hours or even days to confirm, and sometimes never confirm at all.
Fee Bumping
The recommended approach to "accelerating" a transaction is to perform a fee bumping methods, either replace-by-fee (RBF), or child-pays-for-parent (CPFP), which are available to:
- Sender of the Bitcoin transaction: Replace-by-fee (RBF), and Child-pays-for-parent (CPFP)
- Recipient of the Bitcoin transaction: Child-pays-for-parent (CPFP)
Bitcoin transaction accelerators
Caution: As editors, we strive to present you with the most reliable accelerators in the industry. However, we strongly encourage you to conduct your own research by reviewing authentic feedback and verifying the legitimacy of the businesses. It's important to be aware that there are numerous purported transaction accelerators that are, unfortunately, fraudulent schemes. Some of these claim to collaborate with mining pools on your behalf. Yet, due to the challenges in verifying such claims and the past contentious discussions around providing an exhaustive list, we have refined our approach.
Hence, we are now exclusively listing accelerators that are definitively and verifiably operated by established pools or miners, possessing a minimum of 0.1% of the total network hash rate. This stringent criterion has been adopted to ensure the accuracy and reliability of the information we present.
Mining Pool Accelerators
A mining pool may offer a premium service in which they will prioritize a transaction, usually for a fee. The ability for that pool to get a transaction confirmed is limited to their ability to get a block confirmed -- and most pools have a tiny fraction of the hashrate. For example, if a pool has 10% of the hashrate, they mine about a block every 100 minutes (1 hour and 40 minutes), on average. If a pool has 5% of the hashrate, then they mine one block about every 200 minutes (3 hours and 20 minutes), on average.
- Binance Pool - is a prominent cryptocurrency mining pool operated by Binance, one of the world's leading blockchain and cryptocurrency exchange platforms. In addition to its mining services, The Pool offers exclusive transaction acceleration services for VIP users, ensuring swift confirmation of their cryptocurrency transactions.
- ViaBTC - Working as of December 30, 2020. ViaBTC implemented this service to protest against the prior 1MB limitation of the Bitcoin network. ViaBTC gives priority to user-submitted transactions for the next mined blocks by the ViaBTC pool. The only requirement is the transaction must include a minimum fee of 10 sat/B. The free-to-use nature of the service may have made it widely popular as every hour, the number of transaction requested reaches its limit (of 100) and it is common to be presented with the message “Submissions are beyond limit. Please try later.” on the top middle of the page. This means one must wait for the next hour to try a new submission. After submitting a transaction, there is a wait for the next block to be mined by ViaBTC Pool.