Sentences with phrase «transaction verification periods»

Currently, as shown by the large size of the bitcoin mempool, the holding area of unconfirmed transactions, the Bitcoin network is congested, leading to high transaction fees and longer transaction verification periods.

Not exact matches

Once submitted to the bitcoin network, bitcoin transactions are subject to verification for a period of time, awaiting confirmation by the bitcoin network.

If PayPal's technology can be implemented at a large commercial scale, it could allow cryptocurrency payments to be processed between merchants and buyers instantly and off - chain, eliminating large transaction fees and most importantly, long verification periods.