Major cryptocurrency substitution Coinbase recently unveiled a new feature on its platform designed to relieve users coin on transactions fees.

According to a web log post released past the substitution on March xiii, Coinbase would immediately brainstorm offer Bitcoin (BTC) transaction batching for its customers.

The move taken by Coinbase, which "requires no activeness from customers", will allow single on-chain transactions of cryptocurrencies to be bundled into one. The exchange predicts this volition reduce the load on the BTC network and the resulting fees customers pay for sending money.

Saving users 50% on transaction fees

Eli Haims, Coinbase Product Manager, described the move as ane for which users could save on transaction fees. Past reducing the load on the network by more than fifty%, the transaction fees would lower by an equivalent amount.

"Supporting transaction batching is ane way that Coinbase can help brand Bitcoin more usable by lowering network fees overall and freeing up space on the blockchain. This enables the network to increase transaction throughput, and helps to increase scalability."

According to CoinMetrics, the average fee for transactions on the BTC network is currently about $0.30.

Transaction batching long planned by Coinbase

This new feature has been in the works for Coinbase for some time. CEO Brian Armstrong tweeted in June 2019 that it was "embarrassing how long information technology has taken" to release transaction batching.

Though batching will now be bachelor for both Coinbase and Coinbase Pro platforms, others were quicker on the uptake. U.S. based crypto exchange Kraken and Switzerland-based ShapeShift already offer transaction batching.