Decentral Introduces Adjustable Bitcoin Fee For Jaxx users

By June 18, 2016Bitcoin Business
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It is always good to see continued development on existing wallet solutions for cryptocurrency users. Jaxx is quickly becoming a popular solution, due to their support for various currencies across different platforms. Their latest update includes an adjustable Bitcoin fee for whenever the network is congested.

Mine Control is A Scalable Bitcoin Fee

TheMerkle_Jaxx Bitcoin Scalable Fee

Features like these always deserve to get a custom name, and Decentral decided to go with Mine Control. The way this adjustable Bitcoin fee works is by letting users set a higher or lower transaction fee whenever sending funds. Most other wallet solutions support this already, but it is good to see a similar feature in the Jaxx offering.

Congestion is a significant threat to the Bitcoin ecosystem, as transactions have to wait much longer to receive the necessary confirmations. Just yesterday the Bitcoin mempool was exceed 16,000 pending transactions again. It is not the first time this happens either, and increasing the Bitcoin block size is the only solution to address this problem.

Now that Jaxx includes an adjustable Bitcoin fee, users of this wallet solution should no longer be affected by network congestion. Users can select between slow, average, and fast fees, depending on how quickly they need to move funds between addresses. Moreover, all of these types will scale depending on the level of current network activity.

Albeit the Decentral team admits this solution is not perfect by any means, it is an essential solution that can alleviate some of the pressing concerns among Bitcoin users. After all, one of the selling points of Bitcoin is how quickly and conveniently users can transfer funds around the world.

A future version of the Jaxx wallet will include a Custom fee option. This would let users set their fee above or below Jaxx’s recommendations, and bring even more personalization to this wallet solution. iOS users will have to wait a few days for this new update, though, whereas all other versions of the client are updated already.

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Features like these always deserve to get a custom name, and Decentral decided to go with Mine Control. The way this adjustable Bitcoin fee works is by letting users set a higher or lower transaction fee whenever sending funds. Most other wallet solutions support this already, but it is good to see a similar feature in the Jaxx offering.

Congestion is a significant threat to the Bitcoin ecosystem, as transactions have to wait much longer to receive the necessary confirmations. Just yesterday the Bitcoin mempool was exceed 16,000 pending transactions again. It is not the first time this happens either, and increasing the Bitcoin block size is the only solution to address this problem.

Now that Jaxx includes an adjustable Bitcoin fee, users of this wallet solution should no longer be affected by network congestion. Users can select between slow, average, and fast fees, depending on how quickly they need to move funds between addresses. Moreover, all of these types will scale depending on the level of current network activity.

Albeit the Decentral team admits this solution is not perfect by any means, it is an essential solution that can alleviate some of the pressing concerns among Bitcoin users. After all, one of the selling points of Bitcoin is how quickly and conveniently users can transfer funds around the world.

A future version of the Jaxx wallet will include a Custom fee option. This would let users set their fee above or below Jaxx’s recommendations, and bring even […]

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