Copay which proudly claims to be a true Bitcoin wallet and not just an account service has released another update with its version 1.1.3 which has features such as dynamic transaction fees, ability to prevent initiating transactions with unconfirmed funds, and advanced sending options. Copay was taken out of beta in the month of June this year while the company was also taking heed of the community’s feedback to make the software more user-friendly.
Now Copay has chosen to focus on giving its users the option of dynamic transaction fees to prepare for any upcoming tests on the Bitcoin network.
According to Bitcoin Company CoinWallet, which will conduct a stress test on the Bitcoin network in September, there would be a 30-day backlog in confirming transactions.
Copay has also added an advanced sending feature to the “send” User Interface which will allow the users to access the dynamic fees directly through the sending interface and pick between three priority levels which will reflect varying mining fees.
A user will also be able to allow or prevent spending of unconfirmed funds in the advanced settings that Copay has worked on to ensure smoother user experience. The settings will be saved for the following transaction, but can easily be modified each time from the sending interface.
Besides these features, this version of Copay is also offering Italian, Russian, and Greek language options, which adds to the ability to handle transactions with multiple outputs, and fixes minor bugs.
Copay is an open source Bitcoin wallet which secures a consumer’s account with multiple signatures and not just one, it also allows a consumer to take stock of security of the account in his hands by eliminating the role of the third party in securing a consumer’s funds.
This allows, Copay claims, to act like a joint checking account with multiple users; therefore to send or receive any payment, the group must first collectively approve each transaction.
Nikhil Gupta is a Bitcoin writer/analyst at NewsBTC.com. He provides opinionated and informative articles, price analysis, and covers news stories related to the cryptocurrency. He is an avid Bitcoin follower and has been tracking the currency since late 2013. View all posts by Nikhil Gupta