Foundry

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-mining-pool-introduces-mempool-accelerator-for-faster-transaction-approvals/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Mining Pool Introduces Mempool Accelerator for Faster Transaction Approvals</a> 
<a href="https://en.coin-turk.com/bitcoin-price-breaks-above-27000-key-levels-to-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) mining pool Mempool introduced the Mempool Accelerator, a new off-chain service offering accelerated transaction approvals to Bitcoin network users. This service allows users to speed up the approval time for unconfirmed, queued transactions by paying an extra miner fee and service charge.
<h2 style="text-align: justify" id="strong-partnership-established-with-5-mining-pools-strong">Partnership Established with 5 Mining Pools</h2>
Users can find their transactions on mempool.space and use the acceleration option to pay via the Bitcoin network or Lightning Network. Payments can also be made with fiat currencies. No registration is required for users during this process.
<img fetchpriority="high" decoding="async" class="aligncenter wp-image-374815" src="https://coin-turk.com/wp-content/uploads/2024/07/Bitcoin-Mempool-Accelerator.png" alt="" width="557" height="666">
The initial partners of the service include mining pools such as Foundry USA Pool, MARA Pool, SBICrypto, SpiderPool, and Ocean Pool. These pools account for approximately 40% of Bitcoin’s global hashrate. Additionally, Bitcoin <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">applications</a> can integrate the Mempool Accelerator service via API.
Mempool communicates the acceleration request to these mining pools, which can prioritize and approve the transaction based on the accelerated fee rate. However, prioritization is not guaranteed.
To ensure transparency, acceleration offers will be publicly displayed in purple on Mempool’s block audit dashboard. Once submitted, acceleration requests cannot be altered, and some requests may be canceled to prevent abuse, aiming to avoid potential manipulations of the transaction queue.
<h2 style="text-align: justify" id="strong-emerging-as-a-significant-alternative-strong">Emerging as a Significant Alternative</h2>
Mempool Accelerator stands out as a significant alternative to existing on-chain methods. Traditional methods include replace-by-fee (RBF) and child-pays-for-parent (CPFP). In RBF, the sender of an unconfirmed transaction creates a new transaction with a higher fee. In CPFP, the recipient spends the unconfirmed transaction output, increasing the total fee. Both methods require a new transaction signature and specific wallet support.
Mempool Accelerator offers a method that does not require a new on-chain transaction, providing an alternative that does not rely on a centralized third party’s trustworthiness. However, the service fee is significantly higher than average transaction fees, which is considered its main disadvantage. Nonetheless, the service is deemed highly suitable for high-priority transactions. During testing, the transaction time was observed to be reduced to as short as 9 minutes.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-mining-pool-introduces-mempool-accelerator-for-faster-transaction-approvals/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Mining Pool Introduces Mempool Accelerator for Faster Transaction Approvals</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-mining-pool-introduces-mempool-accelerator-for-faster-transaction-approvals/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Mining Pool Introduces Mempool Accelerator for Faster Transaction Approvals</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Bitcoin Mining Pool Introduces Mempool Accelerator for Faster Transaction Approvals

목차

COINTURK NEWS

2024년 7월 29일에 게재된 다른 기사

Peter Schiff Confronts Donald Trump And Michael Saylor's 'Never Sell Your Bitcoin' Strategy: 'Wha...

A New Bill Proposes a U.S. Bitcoin Reserve Stored in a ‘Digital Fort Knox’

Bitcoin Cash (BCH) Price Eyes To Hit $500 As BTC Price Nears 70K?

Malaysia makes formal bid to join the BRICS

Navigating Forex and the Rise of Online Trading in Australia

Bitcoin breaks $70k after Trump’s Nashville remarks

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!