Users of the Bitcoin network are often encountered when a Bitcoin user transaction appears to be “stuck” on the network without receiving a confirmation from the network.
Is it possible to speed up a bitcoin transaction?
The “problem” described above can be called user confusion, as bitcoin transactions that need to be confirmed by the network can take a little longer than normal. However, it is still possible to speed up the process, albeit with little effort by best btc accelerator.
What determines the time of a Bitcoin transaction?
First, you need to understand why a transaction is delayed. Along with the rapid growth of the popularity of Bitcoin and the increase in the number of requests, the load on the network of this cryptocurrency has also increased. Therefore, the 1 MB block size allows you to perform 2000 operations, although in reality their number exceeds a given number. This causes transaction delays from a bitcoin wallet.
The network on which cryptocurrency transactions take place perceives charges differently. Consequently, the size of the commission for operations carried out varies. The creation of a blockchain block takes about 10 minutes, while the confirmation is done through 2 to 6 elements of a blockchain. Therefore, if the network is not overloaded, it takes 20-60 minutes to complete a transaction.
As the number of transactions increases, the system prioritizes those operations that are performed with a higher commission. In other words, if the user set a commission for a previous transaction, his operation will be processed faster. And vice versa: if the commission is too small or completely absent, the transaction enters the repository for hung operations, called Mempool. In this situation, the user can wait for the transfer for several weeks.
Therefore, the time of a Bitcoin transaction is directly dependent on a number of factors: commission, transaction size, network load, and bitcoin exchange rate volatility.
To check the status of a bitcoin transaction, you can use a special Internet resource. The user will have to enter information about the hash of the transaction, the address of the bitcoin wallet or the IPv4 address.
How to speed up the Bitcoin transaction?
Over time, users still found a number of ways that allowed them to increase the speed of transactions and deal with the problems that had arisen.
Provenance transaction accelerator
Until the size of the bitcoin block increases or the space is used more efficiently, there will be delays, due to which the confirmation can take hours, if not days. One of the new services that was made available to users about a year ago is called provenance Transaction Accelerator. Allows you to speed up network confirmations during overloads.
Although the provenance transaction accelerator can only process a few transactions per hour, it is still quite powerful. Users enter their transaction ID and Captcha code, after which their transfer is added to the queue. These transactions will be included in the next block created by the provenance group and the cloud development users.