- But not everyone can take advantage of it
- Besides, transaction acceleration will not be cheap
- For now, the service is only available to VIP customers of categories 1-9
Binance Pool users have the ability to reduce the processing time of BTC transactions for a fee. But the innovation is not available to everyone. The company announced the innovation on the official Twitter page on June 15:
“With this feature you can speed up any transaction in the Bitcoin network, regardless of the current load.
The algorithm for using the service is very simple:
- Must log in to Binance Pool;
- Then select the “BTC Transaction Accelerator” tab;
- There we need to enter the transaction ID in the pool;
- then we need to click the “Check” button and pay the cost.
Binance noted that the fee cannot be charged back later. So choose wisely.
The service is available to those Binance Pool users who are KYC verified and classified as VIP (1-9), which means monthly trading volume of about $1 million per month.. Links and other details can be found at the official website.
Bitcoin has problems with the load
It emerged in early May amid the popularization of Ordinals and BRC-20. At a certain point, the average commission per BTC-transaction reached $19. Such a commercial solution to the problem was only a matter of time.
In the meantime, Bitcoin Core developers are trying a more global approach. Some of them still hold to the idea of censoring the BRC-20 standard and “ordinals.”
Some of them still hold to the idea of censoring the BRC-20 standard.