Bitcoin payment processor companies launched bitcoin instant transaction service
Bitcoin payment processor Bitnet company launched the “instant transaction” service, the purpose is to reduce the waiting time of bitcoin trading businesses.
Through the “instant transaction service, in cooperation with Bitnet businesses no longer need to wait in line, only a few seconds to complete the bitcoin transactions.
Then this service is how to achieve this function? It is the possibility of a bitcoin transaction size by calculating the final block chain can be confirmed.
Although Bitnet company has launched a cooperation with Blockcypher, Blockcypher is a block chain optimization company bitcoin technical upgrades, but Bitnet itself will also be implemented to reduce the risk of the program, including the investigation of whether the consumer in the transaction adds transaction costs and observe how the trade is the bitcoin network spread.
Bitnet chief commercial officer Akif Khan said, if a transaction is not added in transaction costs or expenses of miners, then the deal is unlikely to be the blockchain confirmation, because it cannot motivate miners to verify it.
Akif Khan That network transmission also can make it easier for Bitnet to be double attack risk, but if the transaction can be completed quickly through the network, it will reduce the risk.
“In most transactions across the bitcoin network transmission speed can be predicted, if not, then it means that the transaction is rejected or some peer node. This reason for rejection is usually based on the miners that transactions are not criterion.”
He said: “no matter what the reason, when the transaction propagation speed becomes slow, double the chances of becoming more big. The original transaction and double flower in slow propagation can arrive there before the arrival of the miners.”
Akif pointed out that the Bitnet will not refuse to business transactions. “We will inform the use according to the related businesses, and assume that transaction costs.”
“Even if the probability of a transaction were blockchain confirmation is not high, we do not reject the deal, we will wait until the rollback transaction confirmation and notify businesses, thereby maximizing merchants to accept trade opportunities.”
Akif said the company will consider another risk factor, but he refused to disclose further details, because they relate to the company’s secrets.
This new service at no additional cost, as part of a Bitnet current payment processing solutions.
When asked about the business, the customer will be pointed out that the new akif that accelerate the exchange to attract, which will greatly increase the Bitnet trading platform revenue prospects.