Replace-By-Fee (RBF) functionality is coming soon to the Electrum wallet

Replace-By-Fee (RBF) functionality is coming soon to the Electrum wallet

Another bitcoin wallet is going to be supporting Replace-By-Fee (RBF) transactions soon. Electrum, which is one of the most popular bitcoin wallets on the market, just added new code to support the controversial transaction type.

Electrum, which is open source, added new code today which will change the front-end wallet to provide users with the ability to replace already-sent transactions with a higher fee in order for the already-sent transaction to get confirmed faster.

However, according to the Electrum lead developer Thomas Voegtlin, the new change won’t support RBF detection. This means that the receiver of RBF transactions won’t know (if using the Electrum wallet) that the transaction is replaceable at a later time. So accepting a transaction with zero confirmations could potentially be double-spent.

Voegtlin went on to say in regards to how accepting transactions with zero confirmations should be handled in the future,

“I guess the proper way to accept instant transactions will be to use payment channels and lightning network.”

Other wallets are beginning to add RBF support in different ways recently. GreenAddress just added RBF front-end support and Airbitz added RBF detection in their latest wallet release.