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BTCC announced a new service BlockPriority that offers priority of bitcoin transaction confirmations to BTCC users.

 

The service submits bitcoin transactions from BTCC wallets to the BTCC mining pool which provides over 13% of the global bitcoin network's hashing power. It is one of the 4 largest world bitcoin pools, according to the UK business Insider stats. BlockPriority hence increases the safety for BTCC wallets, minimising the threat of double spending attacks, which could happen because of the delay between the transaction and its confirmation.

“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,” Samson Mow, chief operating officer at BTCC, said.

In June 2015 Chinese mining pools, including BTCC, supported the size upgrade of public ledger data blocks to 8 MB. The upgrade was supposed to allow the system to process more transactions per second and ultimately work faster. At the same time it would give miners even more influence than they have now.

 

Sonya Belova