BitGo, a prominent provider of Bitcoin wallets and custody solutions, has unveiled a new enhancement to its platform with the introduction of Replace-By-Fee (RBF) integration, according to a press release sent to Bitcoin Magazine. This new feature is designed to increase the speed of Bitcoin transaction processing, offering users greater flexibility and control over their transactions.
Announcing support for Replace-By-Fee (RBF) for Bitcoin 🎉
RBF support allows clients to replace transactions stuck in the mempool and gives users greater control over their transactions.
Available for all BitGo Bitcoin wallets.
Learn more about the industry’s most… pic.twitter.com/bWN4Xv66ii
— BitGo (@BitGo) March 13, 2024
RBF enables users to replace transactions that are stuck in process with higher fees, thereby incentivizing miners to confirm them promptly on-chain. Available across BitGo’s range of wallets, including hot wallet, qualified custody, and self custody bitcoin wallet options, RBF integration marks a another big milestone in BitGo’s ongoing efforts to provide advanced features and functionalities to its users.
The introduction of RBF brings several benefits to Bitcoin users. Firstly, it provides greater transaction flexibility, allowing users to adjust fees dynamically to accelerate confirmation, particularly during periods of high network congestion. This enhanced flexibility contributes to a smoother and more efficient transaction experience, empowering users to navigate the complexities of the Bitcoin network with confidence.
As part of the RBF integration, BitGo users will now have access to a range of new features and functionalities. These include the ability to signal for RBF in withdrawals, accelerate low-fee stuck transactions using RBF, and view replacement details on transfers accelerated via RBF. Additionally, BitGo will automatically signal for RBF in internal management transactions, such as consolidations and fanouts, to facilitate easy acceleration if needed.
The integration of RBF aligns with BitGo’s dedication to providing the latest features and functionalities for its users. It enhances transaction management capabilities and contributes to a seamless and efficient user experience. As RBF becomes increasingly standard in Bitcoin wallets, BitGo intends to remains at the forefront of empowering users to navigate the complexities of the Bitcoin network with confidence and ease.
