Mempool Launches Accelerator Service for Faster Bitcoin Transactions

• Mempool’s new accelerator service speeds up Bitcoin transactions by paying additional fees, which do not require registration.
• Five mining pool partners, representing 40% of the global hashrate, support Mempool Accelerator, ensuring higher transaction priority.
• Mempool Accelerator provides transparency with public bid increases and prevents misuse, such as pinning transactions, without changing the original transactions.

Mempool has introduced a new off-chain service to speed up Bitcoin transactions. Called Mempool Accelerator, this service helps users speed up unconfirmed transactions by paying an additional fee. Users can find their transaction at mempool.space, select the acceleration option and pay via Bitcoin via Lightning Network or fiat with Cash App, Apple Pay or Google Pay. Notably, this process does not require any registration.

This service aims to push through unconfirmed transactions by adding a higher priority fee. By doing this, users can bypass the typical wait times associated with the Bitcoin network. This new approach could revolutionize the way transactions are processed, ensuring faster confirmations.

Partnerships with mining pools improve service efficiency

The Mempool Accelerator service is supported by five initial mining pool partners: Foundry USA Pool, MARA Pool, SBICrypto, SpiderPool and Ocean Pool. These pools represent approximately 40% of the global Bitcoin hashrate. When a user requests an acceleration, Mempool communicates with these partners, who consider accelerating the transaction based on the new rate.

This method does not replace the original transaction. Instead, mining pools can treat it with a higher compensation priority, making it more likely to be included in the next block. Bitcoin applications can also integrate this service via an API, giving users more flexibility.

Service transparency and limitations

To maintain transparency, Mempool displays acceleration bid increases on the block audit dashboard. These boosts are highlighted in purple so they are easy to spot. However, once an acceleration request has been submitted, it cannot be changed. Some requests may be canceled without a refund to prevent abuse, such as holding transactions.

Mempool’s accelerator offers an alternative to traditional on-chain methods such as Replace-by-Fee (RBF) and Child Pays-For Parent (CPFP). While RBF involves creating a new transaction with a higher fee, and CPFP involves the recipient spending its unconfirmed transaction output to increase the original fee, the new service offers a faster solution.

Mempool’s new accelerator service provides a streamlined solution for users who need faster confirmations of Bitcoin transactions. By leveraging partnerships with large mining pools and offering a high-priority payment option, the service improves transaction efficiency.