How to accelerate transactions in Bitcoins that have been stagnant?

The cryptocurrencies appeared as an alternative to completely revolutionize the way we conduct our transactions. The first was the Bitcoin, whose origin dates back to 2009, and after that appeared many others such as Ethereum, Ripple and Litecoin, which have been well accepted so far.

Recall once again that the fiduciary money is issued and regulated by an institution, which may be a government or a bank, which in turn assumes the role of mediator to approve, verify and record our economic transactions. This process is coupled to the conditions and times of said company, so that its users must wait certain periods to make their transfers effective and pay commissions for the realization of the same, being these often quite high.

In the Bitcoin network, however, we have a chain of blocks, known as blockchain, which serves as an accounting book in which all the transactions made between the members of the network are recorded. In order for the transfer of money from one user to another to be effective, it must first be verified by the miners.

These operations are accumulated in what is known as Mempool (abbreviation of Memory Pool), which houses all those that require verification. Each miner will take from there what he wants and will make up a block that he must approve from the resolution of a complex mathematical algorithm. The first one that solves it, will add another block with a respective hash to the chain and the transactions contained in it will be effective.

Of course, we must mention that the priority of the operations to be verified by the miners are subject to the catalog of associated transaction fees. People who pay higher rates will get their approval much faster. So, the higher the rate, the greater the possibility that a particular transfer will be added to a block in the blockchain.

As expected, as more people joined the Bitcoin network, the number of transactions also increased, reaching up to 300,000 per day for the month of November 2017, when the price of Bitcoin was It had risen considerably, reaching ATH.

In spite of this, as we know, so far in 2018, there has been a significant decline in the value of the cryptocurrency, so it is expected that this rate will fall. Although this was completely true, at present there are still about 200,000 transfers in the network, a quite high number that has triggered a small problem which we will talk about next.

Imagine the Bitcoin network as a highway. If there is a large number of cars circulating through it, they will not be able to run at a high speed since they are blocked by their predecessors. On the contrary, when there is little traffic, it is much easier to increase the speed to quickly reach our destination.

Exactly the same thing happens now with transactions, which would be the cars in that example. Although the increase in the demand of Bitcoin and, consequently, the sending of this from one user to another, implies a good forecast for the cryptocurrency since it increases its value, the truth is that the large number of simultaneous operations has managed to saturate the network. This has resulted in the slowdown of the process, which is why users must wait from 5 hours to a week to receive a payment.
We find here a disadvantage in a decentralized protocol, the same one that we get when the banks are in charge of processing the payments. In spite of remaining only the members of the community of said cryptocurrency those in charge of verifying the payments, this may take a considerable time in the current state of saturation of the network.

But of course, all is not lost. Despite its decentralized and unalterable nature, there are some tricks to make our transfers, or receive our Bitcoins, quickly. To do this, we can use Bitcoin transaction accelerators, which despite being payments, have been very well received by some members of the emergency network.

What is a Bitcoin transaction accelerator?

Define the transaction accelerator as a paid request that we can make to mining groups so that they give priority to our transactions. This is an application outside the chain in which the miners will be responsible for deliberately including a certain transaction (even if it is a small amount) in the next block.

What are the most recommended bitcoin transaction accelerators?

ViaBTC

The first transaction accelerator that we will mention is ViaBTC, a Chinese platform specialized in the exchange of cryptocurrencies, which allows transactions at very high speeds. It does not require following a registration process, and another of its main advantages is the fact that it is free, although it also provides several payment services to accelerate Bitcoin transfers in special situations.

In order to use this accelerator, the lower limit for transactions is 0.0001BTC / KB, not accepting lower rates. But despite this, it allows you to accelerate up to 100 transactions completely free.

It is important to mention that ViaBTC's exchange operations were suspended in 2017 after the prohibition of ICO's and exchange houses in China, but they continue to work as one of the largest mining pools in the world, placing themselves in the fourth place.

You can use ViaBTC's transaction accelerator by following this link.

BTC.com

BTC.com is another platform dedicated to accelerating Bitcoin transactions. Its efficiency makes it possible to increase to 75% the probability that any transfer will be effective in less than an hour, and to 98% that it will be confirmed in a lapse of four hours. In addition, it provides a certain guarantee to its users, if the process is not fulfilled in a maximum time of 12 hours, the money is returned to the user involved, unless the user has canceled the operation in question.

Their rates have been among the most expensive in the market, especially at the end of 2017, however, in general terms they range between $ 5 and $ 10. However, the user can choose the payment of the transaction fee either in a fiduciary currency or as a digital currency.