Gemini Speeds Up Deposits to Bypass Bitcoin Network Congestion
Digital currency exchange Gemini is doing away with transaction confirmations for approved customers. Announced yesterday, the move will see the New York-based exchange, founded by investors Cameron and Tyler Winklevoss, begin crediting users for their bitcoin deposits before those transactions have been confirmed on the network. Typically, most services will wait for at least three to six confirmations before accepting a deposit as genuine. Bitcoin transactions, after being included in an initial block, become "confirmed" as new blocks are added to the transaction history. Now,....
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Additionally, Gemini improved their Instant ACH deposit system. One thing a lot of people are concerned over is the time it takes for Bitcoin transactions to confirm. This is especially true when moving funds to and from an exchange platform. Gemini, the bitcoin exchange operated by the Winklevoss twins, is introducing zero-confirmation deposits. This is quite a risky move, as zero-confirmation transactions are subject to double spending. Introducing zero-confirmation bitcoin deposits is a significant step for the Gemini exchange. Allowing customers to instantly trade their balance without....
Including these requested transactions in the next network blocks free of charge is a strange decision, though. ViaBTC, the largest mining pool supporting Bitcoin Unlimited right own, announced a new initiative. Their Transaction Accelerator allows users to speed up their network transaction to bypass network congestion. On paper, this sounds very similar to the replace-by-fee feature found in Bitcoin Core. The only difference is how the ViaBTC service is free of charge and can be accessed through a web portal. Given the recent network congestion, quicker transaction confirmations have....
Now that the Bitcoin price has been skyrocketing, more transactions are taking place on the network as well. Similar to what happened a few months ago, network congestion is taking place once again. Bitcoin Core developers are being scrutinized once again for their seemingly unwillingness to up the block size anytime soon. Various Bitcoin community members are getting annoyed with the current congestion issues plaguing the network. If the block size is increased, more transactions can take simultaneously, and there is no congestion to speak of. Moreover, this would allow for faster growth....
US-based digital currency exchange Gemini lists FTM, allowing US citizens to buy and trade on their regulated trading platform. Fantom has been showing remarkable growth in the first quarter of 2021. It enables users to make blockchain transactions without the hassle of high fees, complicated interfaces, slow transaction speeds and weak security. Fantom is even […]
Gemini crypto exchange has integrated deposits via Apple Pay and Google Pay to simplify crypto purchases. Major American cryptocurrency exchange Gemini now lets its users purchase cryptocurrencies like Bitcoin (BTC) with Apple Pay and Google Pay.According to a Thursday announcement, Gemini users can now connect their debit cards to Apple Pay or Google Pay for buying crypto with fiat on the platform. The firm noted that user funds will be available to withdraw one hour after a purchase was made.The new feature is available for a total of over 30 cryptocurrencies supported on Gemini,....