The number of transactions on Bitcoin blockchain has grown exponentially over the past few years, which indicates that there is traffic on bitcoin’s network.
As of now, the Bitcoin blockchain processes more than 200,000 transactions in a day, however in 2019, it used to handle around 300,000 transactions, which eventually had the fees per transaction to shoot up.
As all of the transactions cannot be included in the blockchain, these transactions are put together in a backlog pool named “meme pool”. More the number of transactions linked to the transaction, the higher the possibility of being included in the next block.
This process can sometimes make you wait if the blockchain is already cramped. In these cases, a bitcoin transaction accelerator can assist in accelerating the transactions.
In this, we review the Quick BTC transaction accelerator. But before we do that, here is what a Bitcoin Transaction Accelerator does.
Quick Bitcoin Transaction Accelerator Space
Bitcoin Transaction Accelerators are paid/free requests to a mining pool to intentionally include certain transactions in the next block despite the low transaction fees. Thereby creating an offline market for the mining pools.
QuickAccelerator. Space is a well- known BTC transaction accelerator that seamlessly operates with mining pools along with an exclusive community of Bitcoin (BTC) miners. These Bitcoin miners assist in accelerating the transactions under a quick period.
QuickAccelerator currently offers transaction accelerating services to BTC only, however, it will soon expand its services to Ethereum and other altcoins as well. You could even use Quick’s on your mobile browser as it is responsive.
The platform provides a user-friendly experience by displaying Latest Blocks; Network Statistics, and the Network Hashrate Distribution on a pie-chart.
How Quick Bitcoin Transaction Accelerator Works?
Quick Accelerator . Space charges a small fee for its acceleration services, and explicitly states that the fee charged is non-refundable, as the accelerations are non-tractable.
In order to get started with the bitcoin transaction accelerator, there has to be a tx ID. A tx ID is a unique transaction identifier, which is usually found within the list of transactions of a wallet.
In the following steps we show how exactly the Quick Bitcoin Transaction works:
Step1: First, enter the transaction hash
Copy and Paste the hash of a transaction you want to accelerate.
(Transaction Hash or TxHash is an identifier that is generated whenever a transaction is completed. A TxHash is handy in tracking and tracing the status of a transaction.)
Here is how you can get the transaction hash:
1. Enter the recipient’s wallet address; the amount to send; Next hit on “Send.”
2. Once the bitcoin amount is transmitted, a transaction hash is generated. The transaction is then displayed, which can be copied.
3. A blockchain explorer can let you know the status of the transaction by just entering the transaction hash in the search box.
Step2: Paying the Acceleration Fee ( Reward for miners to boost the transaction )
For speeding up the transaction process, the network decides an acceleration fee. The fee collected will help in increasing the speed of the transaction.
Here is how you can pay the acceleration fee on Quick BTC Accelerator:
1.On the very first page of QuickAccelerator, enter the transaction hash on the Transaction Hash # field.
2. You will now be shown the amount to pay in order to accelerate the transaction. Click on Accelerate Now.
3. Now, you will have a list of payment options available to pay for the acceleration fees. Select the option that suits you the best.
4. Once the payment is made, click on “I’ve made the payment” and enter the transaction details.
5. Lastly, the transaction is validated and is lined up for the transaction after that.
Step3: Submit the details
The last step is to submit the details of the acceleration fee paid for increasing the speed. Follow the steps mentioned below:
1. Make sure that you have paid for the acceleration fee.
2. Note down the transaction details of the acceleration fees paid. (Transaction Hash and the Wallet Address)
3. Get back to the payment screen, and Click on “I’ve made the payment.”
4. You will be provided with a form to enter the transaction details. Enter all of the details that are marked with ‘*.’
5. Once the transaction is successfully submitted, the system then validates and queues it for processing.
Finally, your transaction will be moved to the top of the queue for acceleration.
Few Notable Transaction Accelerators
Besides Quick Bitcoin Transaction Accelerator, we also recommend to you some of the following transaction accelerators:
ViaBTC: ViaBTC Transaction Accelerator runs on both paid and free services for accelerating bitcoin transactions. ViaBTC is often unavailable, and only supports 100 unconfirmed transactions per hour.
Bitcoin Afterburner: Bitcoin Afterburner is open-source wallet that is built to confirm the stuck transactions more swiftly. Bitcoin Afterburner tool accelerates bitcoin transactions at a fee of $5.99
Confirm TX: Another bitcoin transaction accelerator that effortlessly accelerates the stuck bitcoin transaction is Confirm TX. It provides free processing of transactions below 300 bytes. Whereas larger transactions cost $5.