![]() RBF means the sender pays more to get the transaction confirmed faster. ![]() This ‘child’ transaction promises a very high fee, incentivizing miners to include the low-fee parent ASAP. To do this, he broadcasts a new transaction (the child) spending from one of the unconfirmed outputs of first transaction (the parent). In a child pays for parent arrangement, the receiver of a stuck transaction pays the higher fee. Right now, there is no European, UK, Canadian or US based accelerator but this will likely change soon. We recommend using either RBF or CPFP, explained next. Using accelerators is not recommended since you must rely on a third party instead of the base bitcoin protocol and with no added benefit. ViaBTC is one of the most famous mining pools offering accelerator services - not recommended Many wallets offer an easy way to use RBF, such as Electrum and Blockstream Green. When miners include this transaction, they will get the higher fees from your replacement transaction and the fees from the original, low-fee transaction.īecause of this, your transaction is more competitive in the market for block space. This new transaction is identical to the old one, except it pays a higher fee. You need this transaction to go through fast, so you broadcast a new transaction. The recipient still has not had a single confirmation on this transaction. And you wait, and wait, and wait…and nothing happens. You broadcast your transaction to Bitcoin blockchain. This is currently the lowest fee you can set for a transaction. Let’s say you set your fee to 1 satoshi/byte. That may sound confusing, but it’s actually pretty simple. But, generally speaking, RBF works by paying a fee to change the fee for the stuck transaction. There are many different variants of RBF, And we will discuss those in more detail later. RBF is a way for a sender to fix a stuck transaction if they are in a hurry to get their transaction through. There were weeks in 2017 where any transactions that paid less than $20 or more did not make it into a block
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