A lot of us have been trying to send transactions lately, and likely initiated a transaction that is lingering in its unconfirmed state.
The reason this is happening is because Safex at this time is held within the Bitcoin Blockchain which has some limitations. When the whole world all at once starts making transactions, it tests the capacity to the maximum and people’s transactions wind up getting stuck because of the competition for transaction fees.
This isn’t the first time that this had happened. Look at this website/screenshot of the chart. Every few months this issue arose as well where so many people all at once sent transactions and clogged up the transaction pool list.
FYI, if you transaction is stuck… there is nothing. NOTHING 0 things you can do to stop it from being stuck. HOWEVER! do not panic because your coins Will Come Back! eventually.
Safex team has no influence over this, and even if you sent a transaction with the highest fee that was recommended your transactions may be stuck. And each wallet in the world is subjected to that, even my Mycelium mobile wallet has a stuck transaction at this time.
These limitation are due to the 1MB maximum block size of Bitcoin which limits ~2000 transactions per 10 minutes. Chille will have a dynamic block size meaning it can accommodate more transactions per block and charge fees accordingly. Until we transition Safex into the Chille blockchain, we feel it is important information to know.
Thank you for the notice! It’s greatly appreciated after I was gaining curiosity to why my coins weren’t showing up in my wallet after having sent them from Bittrex.
Since these transactions are running on the btc blockchain. Have you had anyone try using the viabtc accelerator? So it can be ruled out as an option. I haven’t had any problems using the wallet or else I would test this myself. Or if someone who is having problems and doesn’t know how to use the accelerator would like assistance?
I am VERY happy to hear this part! The Chille Network will “adapt” to mass transactions during peak times. A marketplace with severe congestion is bad for merchants and consumers.
Yes, I can’t wait to get my SAFEX coins off the Bitcoin Network.
