BTCC, China’s first bitcoin exchange, has released a new service for customers called BlockPriority, which prioritizes bitcoin transactions for BTCC users. The result of this change should see BTCC customers able to trade more freely, even if the network is experiencing difficulties. Obviously this will have a knock-on effect for non-members as they may have to wait to have their transactions confirmed.
COO of BTCC, Samson Mow commented: “BlockPriority is a unique and innovative service available exclusively to BTCC users. It’s also a means of mitigating potential impact to our customers from the lack of progress on blocksize increases.” In addition to this, the risk of double-spending attacks for BTCC users will be reduced as there will be less of a delay between the transaction and confirmation times.
BTCC are utilizing their massive mining pool – currently containing around 13% of the global network’s hashing power – to confirm transactions to or from any BTCC wallet. The offer is free to BTCC customers. Mikael Wang, CTO at BTCC, said: “BlockPriority is the latest addition to our proprietary blockchain technology services, following the Forever blockchain engraving service that we launched in June. BlockPriority demonstrates our commitment to providing our customers and the wider bitcoin community with the best and most convenient experience possible.”
Since its inception in 2011, BTCC has grown to encompass a number of areas, from an exchange to mining pool and wallets to their Forever engraving service, which allows users to write messages on the blockchain.