GAP600 Solution & API

August 14, 2016 - by Gap600 - in Articles

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The GAP600 service enables bitcoin developers, merchants and service providers to accept unconfirmed bitcoin transactions in real-time through our account management console and API.

G6, GAP600’s proprietary real-time risk engine, analyses and performs risk scoring for each transaction in real-time based on highly connected nodes within the bitcoin network. Once the G6 system confirms a transaction, GAP600 will then guarantee that transaction for all cases. Our unique engine saves our clients an average of 17 minutes during normal bitcoin load, and hours or days when the network is congested.

We underwrite and guarantee bitcoin transactions through our unique algorithm, letting you confirm a sale with zero block confirmations. Your customers can bypass network congestion and deposit bitcoin onto your platform without delay, or complete checkout processes quickly giving you a competitive advantage. We offer a free trial, with subscription packages available.

Accept bitcoin payments without delay

We aim to solve one of the biggest bottlenecks surrounding merchants accepting bitcoin, and customers using bitcoin for payment of goods and services – transactions held up by delays on the congested blockchain. Due to the risk of double spend, , block inclusion delays, transaction malleability and a 51% attack on the network, most merchants abide by a six confirmation rule before allowing a transaction to conclude.

As bitcoin has grown in popularity,  a wide range of bitcoin accepting platforms including bitcoin exchanges, bitcoin brokers, bitcoin gambling platforms, cloud miners, e-commerce stores, companies offering goods for bitcoin, and other types of platforms made by blockchain developers have emerged.

As each year goes by, the number of transactions on the network has increased, often leading to large bottlenecks when the bitcoin price changes. This leads to two delays in any bitcoin transaction, the first being the time waiting for the transaction to confirm once, and then the time for subsequent confirmations. This can be at best an hour, at worst several days.

Accept zero block confirmation bitcoin transactions via web or API

GAP600 users can accept bitcoin transactions in real-time via our account management console, or programmatically via our API.

Our simple and straightforward API call requires the transaction hash and output address of the relevant transaction. You can read our article for more information on the process.

You can also get in touch with the GAP600 team to ask about a free trial of our Guaranteed Zero Confirmation Transactions service.

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