If transactions are predicted to have a delay between 1-3 blocks, there is a 90 chance that they will be confirmed within that range (around 10 to 30 minutes). The new service, which can be found at, provides a real-time guide to the fee levels currently being paid on the bitcoin network, along with the estimated delay in blocks and estimated time until confirmation. 21 stressed that including a fee the app suggests does not guarantee that transactions will end up in the next block, and that the app/API provides a recommendation based on recent performance. In general, the larger the fee, the more quickly the transaction will be written to the Blockchain by the distributed group of transaction processors known as bitcoin miners. Featured image via Shutterstock. Nevertheless, this tool works most of the time, and weve found it fun to play around with using the onboard bitcoin you can mine with a 21 Bitcoin Computer. To send a bitcoin transaction, users generally must include a transaction fee, which rewards the miners that process transactions and secure the bitcoin blockchain. Statistics are also sourced from unconfirmed transactions. A huge influx of new transactions can always change these numbers. Srinivasan ( @balajis Veerbhan Kheterpal ( @veerbhan and Christian Papauschek ( @papauschek to send a Bitcoin transaction you typically need to include a transaction fee.
Bitcoin Fees 21 has an elaborated description which rather positively influences the efficiency of search engines index and hence improves positions of the domain. It is not always clear what is the optimum fee level to set, though. Fee app image via 21 Inc. However, exactly how large a fee you need to get rapid transaction confirmation can be hard to predict in advance, because everyone else sending a Bitcoin transaction at the same time is effectively competing with you for the speed commerzbank wie funktioniert bitcoin of inclusion into the Blockchain. For those who are manually sending transactions, you can use our web interface (pictured below) to determine how much youll likely need to send in fees to get a transaction through in a given amount of time: And for those who want to do this. The predicted delay shown here is chosen to represent a 90 confidence interval, the firm said. One solution is to use, originally developed by one of us (Christian).