비트코인 거래 확인 시간

Various options have been proposed to solve the problem, including increasing the block size. However, investors are reluctant to make adjustments. Therefore, Bitcoin transaction confirmation times do not change. For example, the Visa system is able to process up to 2,000 requests per second. There are also other cryptocurrencies that surpass the main digital coin in terms of throughput. At first, Ethereum’s network speed was 15 TPS. However, after changing the consensus algorithm from Proof-of-Work to Proof-of-Stake, the figure increased to 100 thousand transactions per second.

How to calculate the commission

The user sets the parameter before the transaction. With a higher commission, the transfer is confirmed faster. In cryptocurrency wallets, the fee amount is always set by default. This is optimal for users who have problems calculating the commission on their own. The amount of the transfer does not affect its size, but the “weight” in bytes is taken into account. From this parameter depends on how long it takes to confirm a BTC transaction by time.

The fee in the network is estimated at 7 satoshis per byte for a payment of medium priority. If the transfer size is 200 bytes, you need to pay 1400 satoshi, or 0.00001400 BTC ($0.81 at the current exchange rate).

How long does a bitcoin transaction take?

A transaction is confirmed after it hits 6 blocks. A bitcoin transaction takes up to 60 minutes in terms of time. However, in practice, you need to wait up to 4-5 hours due to network congestion. Also, the throughput depends on other factors.

The amount of payment will not affect the speed of confirmation. It will be processed in any case. Blockchain observers such as Blockchair are used to assess the status of the network.

Number of confirmations in the network

6 confirmations are required to approve a payment. This limits the ability to reuse the same coins in the network. This feature serves as a defense against “Attack 51” and prevents hackers from altering the operation of the blockchain.

What affects BTC transaction time

Initially, the Bitcoin blockchain processed payments quickly. However, the coin’s popularity grew, and so did the network’s workload. There are parameters that affect the processing speed.

If an investor does not want to wait, payment acceleration tools should be used. This is important when a transaction “hangs” waiting for confirmation. This happens due to high network load or a low commission set by the user.

How to speed up bitcoin transaction confirmation time

As the number of payments on the blockchain grows, transactions with higher fees are prioritized. If the fee is set at a critically low level, it can “hang” in the mempool for 2-4 weeks. The bitcoin transfer will still go through. However, there are solutions to speed up the transaction.

Replace-By-Fee

This is a function of replacing a payment that is pending. To speed it up, it is recommended to create a new transaction with the same initial data, but set an increased fee. Nodes perceive the payment as old and the transaction moves in the queue.

CPFP

If the payment is not confirmed, the user needs to create a new order. The money received in the previous transaction will be spent. In it, a higher fee is set. Miners take into account that to confirm this order, they need to approve the first one. The presented function is used only in the Bitcoin network.

Double Spend

This is a repeated sending of money from the same wallet. The probability that both transactions will be approved in parallel is zero. The payment that is more favorable to miners will go through first.

Gas pedals

These are services that allow a transaction to be processed faster. They are often backed by mining pools – for example, ViaBTC, which provides a convenient interface. Free and paid options are provided. In the first case, the order is moved through the mempool with the expectation that the miner will process it. In the second version, you need to pay a commission, which allows you to advance the trade request.

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