The blockchain market is fast growing and so is Bitcoin transactions. The size of the Bitcoin block can rise to a maximum limit of 1MB. Beyond that, the entire blockchain network gets corrupted causing delays in transactions, congestion in the network, delays in the confirmation of the transactions and so on.
All Bitcointransactions need to pass through a confirmation pool called Bitcoin mempool depending on your transaction fees. So invariably, if your transaction fees are more, the miners will pick your transaction and confirm it. So, here comes the role of transaction accelerators. To accelerate your transactions, you need to pay an extra fee or acceleration fee.
What is Bitcoin Transaction Accelerator?
Bitcoin Transaction Accelerators are off-chain services that charge an extra fee to accelerate your Bitcoin transactions in the blockchain network so that it can get the required confirmations. These services are actually run by the miners themselves in order to get higher fees for block mining.
In December 2017, the Bitcoin Blockchain network was processing more than 4,50,000 transactions a day which caused serious congestion into the network. Bitcoin accelerators can smoothen the transaction process and save both time and effort of investors.
Best Bitcoin Transaction Accelerator
Let us now have a look into some of the best Bitcoin Transaction Accelerators:
ViaBTC
ViaBTC started its service back in 2017 challenging the 1MB limit of Bitcoin blocks. The service is free but charges an extra amount for low transaction fees or transactions that are urgent. The free service is available at 100 accelerations per hour.
To use the service users, need to provide their transaction ID. To avail the paid services, you have to pay a minimum charge of 0.0001BTC/KB. Also, there is no need for users to sign up for the services. They just need to submit their TXID in a specific format available at Bitcoin Blockchain explorers. Link to ViaBTC
BTC.com
The BTC.com doesn’t have a Bitcoin acceleration service of their own, but they do so in cooperation with other mining services to prevent congestion in the Bitcoin transaction services. The fees depend on the congestion in the network. BTC.com can increase your transaction confirmation to 75% in one hour to 98% in 4 hours respectively. For availing the free service, you can just sign up to the acceleration service. However, paid services depend on the congestion in the network and are nonrefundable. Link to BTC.com
ConfirmTX
ConfirmTX is another Bitcoin accelerator service and charges a minimum fee of 5 USD for more than 250-byte transactions and free for all other transactions. They pull your transactions to multiple pools they have partnered with and so there is always a chance that your transaction will be confirmed even if you have paid a minimum fee of $0.01. Once paid, there is no chance for a refund and all your transactions are confirmed within 12 hours and maximum up to 72 hours. If they fail to confirm within 72 hours your account will be credited with a free future transaction acceleration service.
The confirmation also depends on the amount of fees you pay. For example, if your fees are 0.50$ chances are there that your transaction will be confirmed within 48 hours rather than 72 hours in case of a 0.01$ fee. Link to ConfirmTX
360 BTC Accelerator
The 360 BTC Accelerator provides free acceleration services and there is always a chance that your transactions will be confirmed even if you have paid a very low fee. The service does not mine by itself or is not connected to miners but all your transactions will be confirmed by rebroadcasting the unconfirmed transactions to the network itself. In this process, the transactions get picked up by other mining pools like that of ViaBTC and your transaction gets confirmed. The service is very easy to use and no sign-up is required. Link to Website
BTC TX Accelerator
BTC TX Accelerator is a free Bitcoin accelerator and has partnered with several mining pools to accelerate the confirmation of Bitcoin transactions faster. If your transaction has been jammed up or is unconfirmed due to the low fee, BTC TX will add an extra fee and clear the confirmation process by sending it to partner pools. Link to BTC TX Accelerator
BitAccelerate
BitAccelerate is a free Bitcoin transaction accelerator and helps you clear your unconfirmed transactions easily within the network. BitAccelerate asks you to submit your transaction ID or TXID and click on the “Accelerate” button and your transaction will be rebroadcasted by using 10 Bitcoin nodes. To get a faster result, you can resubmit your ‘stuck’ transaction every 6 hours and the BitAccelerate will keep on broadcasting until it is confirmed. No sign-up is required for using the service. Link to BitAccelerate
Bitcoin Afterburner APP
Bitcoin Afterburner is developed by a software team called Samourai Wallet Team and is slightly different from the other Bitcoin Accelerator services. It uses a system called CPFP or “Child pays for parent” transaction which acts as a wallet and helps you accelerate your unconfirmed transaction.
To use the services, you need to download the Android App into your android phone and restore your Bitcoin wallet. After you have synced the app with your transaction need, Afterburner will charge you with a fee of $5.99 along with miner fees for using CPFP services. Link to Bitcoin AfterBurner
No comments:
Post a Comment