A little tutorial on Blockchain and how it works.

We constantly get messages like “My deposit is pending”, “Release my coins”, “It has not been confirmed for hours” ... etc

TRUTH: These days, Blockchain has more customers and your transactions need a free block (free route etc)  and the speed of your transaction is determined by how much the blockchain will make. If they will make more MONEY then your transaction will go through faster... Otherwise it goes through slower... It’s business oriented!

Let’s say you are a taxi driver and you get a call from two clients going to point A from point B and the first client is willing to pay 1500 NGN while the second is willing to pay 2500 NGN, which client would you carry in your taxi?? I am guessing you would go for the client willing to pay more.

That’s exactly how Blockchain works, if the both of us are sending value through the Blockchain and I pay more than you do (its called bidding), you will have to wait,  and if another person offers a higher payment again, you will also have to wait. This could be annoying but it is just how things work.

SOLUTION: Depending on the wallet you use, there is an option to increase the fee you are willing to pay for each transaction you make, choose a higher fee for faster completion of your transaction.