Bitcoin

Apple

Blockchain explorer Mempool has introduced an off-chain service, Mempool Accelerator, to expedite unconfirmed Bitcoin transactions by paying an extra miner fee and service charge. The service, which launched on July 29, allows users to get “stuck transactions confirmed by paying an out-of-band fee.” Users can access this service on mempool.space and pay via Bitcoin, Lightning, Cash App, Apple Pay, or Google Pay without needing to sign up, according to <a href="https://www.theblock.co/post/307972/mempool-launches-off-chain-accelerator-bitcoin-transactions" rel="noopener noreferrer nofollow">Theblock</a>.
Five initial <a href="https://ultramining.com/en/ratings/" rel="noopener noreferrer nofollow">mining pool</a> partners—<a href="https://ultramining.com/en/ratings/foundry/" rel="noopener noreferrer nofollow">Foundry</a> USA Pool, MARA Pool, SBICrypto, SpiderPool, and <a href="https://ultramining.com/news/en/innovative-mining-pool-ocean-launches-with-jack-dorseys-backing/" rel="noopener noreferrer nofollow">Ocean</a> Pool—support the service, collectively accounting for about 40% of Bitcoin’s global <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a>. The accelerator sends requests to these pools, which can then expedite transactions based on a new accelerated fee rate. This increases the chances of confirmation in the next block, though it is not guaranteed. Additionally, Bitcoin applications can integrate the Mempool Accelerator service via its API.
For transparency, acceleration bid boosts are publicly visible on Mempool’s block audit dashboard, highlighted in purple. However, accelerations cannot be modified once submitted, and some requests may be canceled without refunds to prevent abuse, such as transaction pinning.
Mempool Accelerator offers an alternative to on-chain methods like replace-by-fee (RBF) and child-pays-for-parent (CPFP). RBF requires the sender to create a new transaction with a higher fee, often accepted over the original, but necessitates a new transaction signature and wallet support for RBF. CPFP requires the recipient to spend their unconfirmed transaction output, increasing the effective fee, but also needs a new transaction signature and wallet support.
Unlike these methods, Mempool Accelerator uses an out-of-band payment, avoiding the need for a new on-chain transaction signature. However, this approach relies on a centralized third party rather than the decentralized Bitcoin network, and the service charge is significantly higher—around 100 times the current average fee of $0.39.
Mempool recommends using RBF or CPFP if possible but highlights that its accelerator service is useful for scenarios involving limited wallet functionality, multisig complexities, opening and closing Lightning channels, and retaining the same transaction ID. The service aims to prioritize transactions for up to 43.4% of miners, reducing the expected waiting time for confirmation to approximately nine minutes.

Mempool Launches Accelerator Service to Expedite Bitcoin Transactions via Mining Pools

Ultramining_Eng

Otros artículos publicados el 30 jul 2024

Polymarket Exceeds $1 Billion in Trading Volume

Bitcoin SV Price Eyes 2X Gains Amid BTC Correction

Rollblock Holders Gear Up For Huge Price Jump But Investors Less Optimistic about Optimism (OP) a...

Polychain-backed blockchain protocol Anoma seeks new funding at $1b valuation: report

BlackRock: Solana ETF Unlikely Due to Technical Hurdles and Market Concerns

Crypto-Focused Fairshake Becomes Biggest Super PAC With Over $200M In Donations, Spends 90% Of Th...

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!