Cryptocurrency exchange Coinbase has added a transaction batching feature to its platform. According torepresentatives of the exchange, this will help reduce fees by 50%.
New feature allows multipletransactions in one, thereby reducing the load on the Bitcoin network. Batching also reduces commission costs, since several transactions in one block take up less space than if they were distributed across several blocks.
A Coinbase spokeswoman reported:
Previously, every time a Coinbase user sent Bitcoin, we conducted one transaction on the blockchain. From today, we will combine several operations in one transaction.
According to her, thanks to the new function, the fee for sending funds will be reduced by 50%.
The new feature will be available on both Coinbase and Coinbase Pro.
Coinbase originally planned to launchbatching of transactions back in 2018. In the summer of 2019, the exchange's CEO Brian Armstrong posted a tweet in which he apologized for the delay and promised that the launch of the function would take place no later than in a couple of months.
Recall recently Coinbase leadershipannounced that the exchange is testing the use of Clearview AI facial recognition software, which was originally intended for law enforcement and military structures.
Based on materialswww.theblockcrypto.com
