Coinkite introduces a new API feature allowing to send bitcoin payments to 1,000 addresses simultaneously and trace payments.

The option can be used to quicken the process of transferring value by bitcoin start-ups and make it more transparent and secure.To achieve this, Coinkite developed three services called “Multisend”, “Send Advanced”, and “Fee Mode”.

“Multisend” allows sending bitcoin to up to 1,000 addresses at once, which is supposed to show the payer’s trustworthiness to the customers.

“By paying all your debtors at once, in a single transaction, you’re demonstrating accountability and transparency at the blockchain level,” reads Coinkite's blog.

“Send Advanced” option stands for allowing the companies “to have complete control over which specific UTXO are involved in a new transaction.” If an UTXO, Unspent Transaction Output, turns out to be unconfirmed and does not relate to the company's “honest users”, it will be pushed aside.

“Fee Mode” is aimed at giving Coinkite's users some power to determine the amount of miner’s fee, which normally depends on the size of the transaction. Now a user can choose whether to pay “the minimum fee” to make a casual transaction or to pay 2, 3 or 5 times as much to get their transaction to the blockchain faster. The third option is to pay a basis point of the transaction's amount (0.05%, 0.1% or 0.5%).

Founded in 2013, the Canadian wallet platform Coinkite now transacts over 400,000 BTC a month and provides Multi-Signature and HSM-based Bitcoin vaults helping to avoid human error in daily operations. In the third quarter of 2015 it processed $250 million.

Maria Rudina