Bitcoin Cash-Powered Accelerators Can Speed Up Transfers Where BTC Transaction Is Stuck

Bitcoin Transactions Being Delayed. 

There are more than 69,000 transactions waiting in line to get confirmed by a bitcoin miner at the time of publication. People who pay less than the median fee may have to wait for a while since bitcoin’s price rise at certain times, transaction fees have climbed to $10 to $20 per transfer. A platform that increases the probability of getting a transaction confirmed, however, people might not realise that there’s a tool people can leverage called a transaction accelerator. 

Transfer Fees Ramp Up As Bitcoin’s Transaction Backlog 

Bitcoin touched a lifetime price high at $52,640 per unit on Wednesday, February 17, 2021. The crypto asset has continued to keep steady between the $51,000 to $52,000 price range since then BTC’s value has retreated a hair. 

According to bitcoinfees.cash data, meanwhile, BTC fees have also steadily increased as the cost per transfer is currently $16.62 to get a transaction into the next block. According to the web portal, BTC’s median fee is lower and around $10.76 per transfer. That the average bitcoin transaction today is $22.70 or 0.0000011 BTC per byte is what stats from bitinfocharts.com show. 

The bitcoin network’s transaction backlog (mempool) shows a great number of unconfirmed transactions are waiting to be cleared because fees are so high and competing. Above 69,000 transactions on Thursday, data from the site Blockchian.com shows the mempool transaction count or the total number of unconfirmed transactions in the mempool. Showing 77,034 transactions are waiting for a BTC miner confirmation as cryptocurrency transaction stats from txstreet.com. 

Having made people wait a long time for a single confirmation, unfortunately, the number of transactions pending and the ability to compete with higher fees. To get a single transaction if the fee is too low, when a long-time ago a small fee could get a BTC transaction cleared with 10 minutes now can take hours and even days. 

A majority of BTC wallets do not leverage the RBF protocol as people can leverage a tool that is available in a few select BTC wallets called replace-by-fee (RBF). This allows people to pay a fee and push a transaction faster, however, there is a tool that people can use called a transaction accelerator. 

With Bitcoin Cash-Powered Transaction Accelerators, Speed Up a Bitcoin Transaction 

Users can even pay in bitcoin cash to speed up a transfer as the web portal btc.com and viabtc.com both offer transaction accelerators. To provide the transaction accelerator service the web portal pushtx.btc.com says that leading bitcoin mining pools cooperate. 

The website then notes within 1 hour to 75%, within 4 hours to 98%, using the transaction accelerator can increase the probability of confirming a transaction. The program will give an estimated fee as the person who wants to speed up a transaction simply adds the transaction hash. The bitcoin network’s third-largest mining pool today is Btc.com which just got acquired by a Chinese lottery firm. 

That also offers users a number of other cryptocurrency services, viabtc is also a mining operation. Pointing hashrate a the Bitcoin network on 

Offering users, a number of other cryptocurrency services are viabtc also a mining operation. Pointing hash rate at the bitcoin network on February 18, the company’s mining pool is the sixth-largest mining pool. We find that as speeding up a transfer, viabtc also then helps provide a transaction (TX) accelerator service coming to be one that is free and the other service that can be paid for with bitcoin cash. 

Viabtc’s transaction accelerator website explains that you can use TX Accelerator to accelerate the confirmation of a BTC transaction when there’s a pending transaction caused by a crowded BTC network or low miner fees. 

As they would like their transaction confirmed quickly people may need a tool like a transaction accelerator. A person could lose money trying to send BTC to an exchange to make a timely trade whereas the problem with slow settlements and confirmation times is because prices fluctuate.

They are definitely better than nothing at all and worth knowing about as transaction accelerators are simply a band-aid to an ongoing problem. 

They can utilise the BCH network’s low transfer fees moreover because btc.com’s and viabtc.com’s traction accelerator users can leverage bitcoin cash (BCH). That the current fee to get into the next BCH block is only $ 0.0035 or a third of a penny is what data from bitinfocharts.com, bitcoinfees.cash, and txstreet.com indicate. 

The Final Words On The Discussion 

With the transaction accelerator, the situation comes to be bright for the persons using bitcoin and transacting across the exchanges. So, all you need here is this accelerator helping you transact beyond the price fluctuations. Gear up for the latest and we will bring you more of it. Have a good time investing!!!