The Bitcoin Network
IN THIS lesson we will learn how to accelerate a pending transaction on bitcoin.
Another important concept for those involved with Runes and Ordinals, is the ability to accelerate a pending transaction, in case it is needed. That is accelerating a pending mint, accelerating a BTC transaction, where you need the BTC for something time-sensitive. There are many cases, so it is important to understand how to accelerate.
Accelerating a Transaction on Bitcoin
We will use XVerse Accelerate: https://wallet.xverse.app/xccelerate
Steps:
Open your Xverse and click on the "Globe" icon (if you clicked the link above skip to step 3).
You will see Xverse Accelerate on the "Explore" list, click on it.
A new page will open up. Connect your wallet and sign to prove ownership.
In this new screen you will be able to see pending transactions on both your BTC and Ordinals/Runes wallet that are eligible for an acceleration. (Not all transaction types are eligible. If you want to speed up a Runes mint, you can do so on the same platform you used to mint, such as Luminex, Satosea, or Ord.io)
Click on the transaction you wish to accelerate, and go through the process. Check the mempool for how much gas fees are, and make an educated gas of how much fees you need to set on the sped-up transaction to have it pass by when you wish it to pass. Usually, 10-20% above the current gas is ideal if you want to have it pass on the next 2 blocks.
Step 2: Xverse Accelerate Tool
Step 4: Xverse Accelerate Tool Pending Transactions Screen