As more crypto users trade Bitcoin, over the years transaction on the Bitcoin blockchain has increased exponentially. This has resulted in huge traffic on Bitcoin’s blockchain. Beyond the limit of 1MB, the entire blockchain network gets corrupted, and this ultimately causes delays in transactions or even confirmation of transactions.
Currently, the Bitcoin blockchain processes over 200K transactions per day, and back in November 2017, it processed over 300K transactions that resulted in the transaction fees skyrocketing. This article covers everything you should know about how a bitcoin transaction accelerator works and the best transaction accelerators.
Image source: Blockchain
What is a Transaction Accelerator, and How do you Use It?
Accelerators are third parties designed to anticipate new bitcoin transactions, which are then queued for miners’ confirmation and direct them into faster processing mode.
Accelerated transaction refers to the process of speeding up new transactions on Bitcoin’s blockchain network. The process typically involves the inclusion of a miner’s address or transaction accelerator’s address in the recipient section of your Bitcoin wallet.
By setting up a dedicated bitcoin accelerator address, you will directly interact with users of your business. The addresses are well-marked on the blockchain and easily identified.
Accelerators can be used by anyone looking to transact Bitcoin without delays or increase efficiency for businesses that regularly perform transactions in Bitcoin.
Top 7 Bitcoin Transaction Accelerators
Bitcoin accelerators can help smoothen the transaction process and save both time and effort for investors. Let’s take a look into some of the best Bitcoin Transaction Accelerators:
ViaBTC is a Bitcoin mining pool service that offers users free and paid subscriptions. The company started in 2017 with the aim of testing a 1MB block, which challenged fundamental ideas about how bitcoin was to be designed.
ViaBTC’s 100 accelerations per hour are for the free subscription only; paying customers can access up to 1000 transactions per hour at an extra charge of 0.0001 BTC/KB if they need urgent transaction processing or low fees on their transactions too – all this without having to sign-up first. They also need to submit their TXID in a specific format available at Bitcoin Blockchain explorers.
BTC.com does not provide a Bitcoin acceleration service of their own. But they do so in coordination with other mining services to prevent congestion on the transaction system for Bitcoins. The fees depend on how congested or busy the network is at any given time and are nonrefundable because speed can only be increased by 10% per hour up to 75%.
ConfirmTX is a revolutionary Bitcoin accelerator service that guarantees your transactions will be confirmed within 12 hours or less. This is due to the large backlog of unconfirmed transactions on the Bitcoin network and will be fixed once payment for a transaction has been made.
ConfirmTX has partnered with multiple pools to ensure the quickest and most reliable confirmation times possible for all of its clients, regardless of their transaction size, which can range from small micro-transactions up to 250-byte payloads at a $5 USD minimum fee.
Bitcoin Afterburner APP
Bitcoin Afterburner is an app that will push your unconfirmed transactions at no extra costs but with a catch. You need to fund the app with bitcoins before you can use it to boost any of your unconfirmed transactions. It uses a system called CPFP (Child Pays For Parent) transaction, which acts as a wallet and helps you accelerate your confirmed transaction. Afterburner charges a fee of $5.99 along with minor fees for using CPFP services.
BitAccelerate is a free Bitcoin transaction accelerator that helps you clear your unconfirmed transactions easily within the network. BitAccelerate asks you to submit your TXID and click on the “accelerate” button; then, it will be rebroadcast using ten nodes in order for faster confirmation time. With no sign-ups required, this service can be used every 6 hours until confirmed if needed. It is an easy-to-use service with a simple UI.
360 BTC Accelerator
360 Bitcoin accelerator service is a tool that will help you push up your unconfirmed BTC transaction for confirmation. This service normally re-broadcasts your bitcoin transactions to the blockchain network, but it does not mine or connect with any other miners in any way. However, this method of trying to force an unconfirmed BTC through doesn’t work all the time because sometimes higher fee attached transactions are chosen instead by miners and so using 360’s Accelerator Service won’t necessarily get your confirmation faster than just waiting on their own accord.
BTC TX Accelerator
BTC TX Accelerator is a free Bitcoin transaction accelerator that will take care of your low fee transactions so you don’t have to! If your unconfirmed, jammed up or slow-moving money has been due to the pitifully small amount of fees applied in order for it to go through with ease then BTCTX can help.
In addition to being FREE and easy, all they ask from their partners are 0.0055BTC per confirmation which comes out $0.64 at current exchange rates when bought on top-of-their list prices
The Bottom Line
Bitcoin transaction accelerators can prove to be a great platform for users to send Bitcoin and have a guarantee that the funds will arrive in a matter of hours. The future, however, is uncertain-new ways of sending or receiving bitcoin could come into effect at any moment; this makes it important for those who work with transaction accelerators to make sure they’re adapting to market changes.
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