Ever had that sinking feeling when a Bitcoin transaction just… sits there? No confirmations, just stuck in the blockchain traffic jam. Enter Child-Pays-for-Parent (CPFP), the Bitcoin “fast lane” trick that can save you from transaction delays.
What is CPFP?
CPFP, or Child-Pays-for-Parent, is a technique that lets you “bribe” (well, incentivize) miners to process your transaction faster.
If the initial transaction fee was too low, CPFP allows you to create a follow-up “child” transaction with a higher fee, which entices miners to prioritize the parent and child together, without guaranteeing inclusion in the next block. Think of it as a “buy one, get both” deal for Bitcoin miners who need a little push to get your original transaction confirmed.
When and Why Do We Need CPFP?
Sometimes, especially during peak Bitcoin traffic, transactions just don’t move. This can be particularly frustrating in time-sensitive situations on Liquidium.WTF, like:
- Loan activation: If a loan activation transaction is waiting for confirmation, CPFP can improve its confirmation prospects by increasing the package fee rate.
- Loan repayment: Raise the fee on an eligible pending repayment to encourage miners to confirm it.
- Claiming collateral: An eligible collateral-claim transaction may be accelerated with CPFP. Confirmation still depends on miners and network conditions.
In short, whenever a transaction is stuck, CPFP is the tool that nudges it into motion!
How to Use CPFP on Liquidium.WTF
Liquidium.WTF makes CPFP super user-friendly. Here’s how to give your transactions a turbo boost:
- Open your Portfolio: Select Pending to find your pending transactions.
- Choose the transaction: Select the pending transaction you want to accelerate.
- Choose CPFP: Select the available CPFP action. It is shown only when the transaction is eligible.
- Set a higher fee: Choose a higher fee rate in sats/vByte for the parent and child transactions together.
- Confirm: Confirm the action, then sign the transaction in your wallet. You’ve created a “child” transaction with a higher fee that coaxes miners into prioritizing both transactions
The legendary James has crafted a quick video just for you, walking through how to use CPFP in Liquidium.WTF. Check it out here: Watch now!
CPFP can improve an eligible pending transaction's effective fee rate. It does not guarantee a confirmation time or extend a loan's repayment deadline. Repay early enough to allow for network delays.
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