- But not everyone can use it.
- In addition, speeding up the transaction will cost a lot.
- So far, the service is available only to VIP clients of categories 1-9
Binance Pool users have been able to reduce BTC transaction processing time for a fee. But innovation is not available to everyone. About company innovation stated on the official Twitter page on June 15:
“With this feature, you can speed up any transaction on the Bitcoin network, regardless of the current load.”
The algorithm for using the service is very simple:
- you need to go through authorization on the Binance Pool site;
- then you should select the tab “BTC Transaction Accelerator”;
- here you need to enter the transaction ID in the pool;
- then you need to click on the “Check” button and pay the costs.
Binance noted that it will not be possible to withdraw the commission later. So you should choose carefully.
The service is available to those Binance Pool users who have passed the KYC verification procedure and belong to the VIP (1-9) category, that is, with a monthly trading volume of about $1 million per month. Links and other details can be found at official website.
Bitcoin has load problems
They arose back in early May against the backdrop of the popularization of Ordinals and BRC-20. At some point, the average BTC transaction fee reached $19. Such a commercial solution to the problem was only a matter of time.
At the same time, Bitcoin Core developers are trying to find a more global approach. Some of them still hold on to the idea of censoring the BRC-20 standard and the Ordinals.