It is expected to save users more than 50% on network fees
Coinbase is launching Bitcoin transaction batching that significantly decreases the load the platform puts on the Bitcoin blockchain.
According to information, this release will introduce a small delay in a transaction broadcast to the network. However, it won’t impact the time needed for transactions to be confirmed at the normal rate for customers.
Coinbase introduced the initiative to improve the usability of Bitcoin’s open protocol. Due to the fact, that all Bitcoin transactions are charged with a network or a processing fee, the batching will make Bitcoin more usable.
Bitcoin batching aims to lower network fees, thus freeing up space on the blockchain. As a result, the network will increase transaction throughput and scalability.
The digital currency exchange stated that Bitcoin transaction batching will be applied to both Coinbase and Coinbase Pro. At the same time, 100% of network fees have already been covered for Coinbase Pro customers, so there won’t be noticeable changes to the experience.