US-based cryptocurrency exchanges Coinbase has disclosed that it uses the Child Pays for Parent (CPFP) method to improve Bitcoin (BTC) reliability and push through “stuck” transactions.
The confirmation time of cryptocurrency transactions can slow down occasionally due to fee rate spikes and general Bitcoin network congestion, Coinbase noted in a blog post on Tuesday. These “stuck” transactions can remain unconfirmed until the network is decongested and the fee rates drop. To tackle this problem, Coinbase is implementing economic incentives which leverage the math behind the BTC protocol for inputting older, low-fee transactions before confirming new, higher-fee ones.
The exchange...
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