BitGo, a prominent provider of Bitcoin wallets and custody solutions, has unveiled a new enhancement to its platform with the introduction of Replace-By-Fee (RBF) integration, according to a press release sent to Bitcoin Magazine. This new feature is designed to increase the speed of Bitcoin transaction processing, offering users greater flexibility and control over their transactions.

Announcing support for Replace-By-Fee (RBF) for Bitcoin

RBF support allows clients to replace transactions stuck in the mempool and gives users greater control over their transactions.

Available for all BitGo Bitcoin wallets.

Learn more about the industry's most… pic.twitter.com/bWN4Xv66ii

— BitGo (@BitGo) March 13, 2024

RBF enables users to replace transactions that are stuck in process with higher fees, thereby incentivizing miners to confirm them promptly on-chain. Available across BitGo’s range of wallets, including hot wallet, qualified custody, and self custody bitcoin wallet options, RBF integration marks a another big milestone in BitGo’s ongoing efforts to provide advanced features and functionalities to its users.

The introduction of RBF brings several benefits to Bitcoin users. Firstly, it provides greater transaction flexibility, allowing users to adjust fees dynamically to accelerate confirmation, particularly during periods of high network congestion. This enhanced flexibility contributes to a smoother and more efficient transaction experience, empowering users to navigate the complexities of the Bitcoin network with confidence.

As part of the RBF integration, BitGo users will now have access to a range of new features and functionalities. These include the ability to signal for RBF in withdrawals, accelerate low-fee stuck transactions using RBF, and view replacement details on transfers accelerated via RBF. Additionally, BitGo will automatically signal for RBF in internal management transactions, such as consolidations and fanouts, to facilitate easy acceleration if needed.

The integration of RBF aligns with BitGo’s dedication to providing the latest features and functionalities for its users. It enhances transaction management capabilities and contributes to a seamless and efficient user experience. As RBF becomes increasingly standard in Bitcoin wallets, BitGo intends to remains at the forefront of empowering users to navigate the complexities of the Bitcoin network with confidence and ease.

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Bitcoin-focused company Lightning Labs has launched the Taproot Assets mainnet alpha daemon.

Simply put, Taproot Assets uses Bitcoin’s technology to handle, create, and delve into stablecoins and other assets. Think of it as a modern financial tool, backed by Bitcoin’s known security and decentralized features. The current version, Taproot Assets v0.3, enables developers to transform Bitcoin into a network that can support various assets, all while maintaining its foundational principles.

The main aim here is to evolve Bitcoin. It’s not just about it being a cryptocurrency anymore. It’s about making it a global network for digital money transactions. By merging Taproot Assets with Lightning transactions, the way we understand financial exchanges might undergo a significant shift, making them more in tune with Bitcoin’s built-in liquidity.

From its white paper release last year to now, the journey has been a combined effort. Inputs from the Bitcoin developer world, lessons from the testnet phase, and the support from early users have all played a part in shaping Taproot Assets. During its test phase, close to 2,000 assets were created, with nodes connecting to the ‘Universe server’ (a key source for Taproot Asset data for wallets) more than 420,000 times.

For those interested, Taproot Assets daemon is available in the recent versions of Polar and litd v0.12, packed with tools from basic node operations to support for multiple assets. It’s important to note, however, that even with its potential, it’s in its early stages. Continued community feedback and testing for any possible risks is vital.

Looking back, Bitcoin’s significant step into mainstream finance came when El Salvador recognized it as official currency in 2021. After that, the Lightning Network saw remarkable growth, particularly in developing regions. The rising demand for stablecoins globally played a crucial role. Considering their digital nature, stablecoins can often be more appealing than local currencies in areas with high inflation. For the roughly 2 billion people facing steep inflation in their local currencies, the consistent value of stablecoins, usually tied to the dollar, is attractive.

There’s also a growing interest in incorporating real assets like gold, company bonds, and US government bonds into the Bitcoin sphere. Many believe that with Bitcoin’s vast reach, decentralized system, and strong security, these assets can be more accessible to the general public.

The Taproot Assets v0.3 update invites developers to explore mainnet assets further. With user-friendly APIs for creating and redeeming assets and support for tranched issuance, the process is streamlined. There are also features to ensure physical assets linked to these digital ones can be safely retrieved.

For transactions on the Taproot Assets chain, a new asynchronous receive function means assets can be sent or received anytime, even if both parties aren’t online at the same time. This update also introduces ‘Multiverse Mode’, giving developers a thorough tool for block exploration for users.

This version also sees improvements in security, scalability, and user experience. Additions like Schnorr signatures, PSBTs, and witness fields make it even more robust.

This is just a starting point. The team behind Taproot Assets aims to make Lightning a network that supports multiple assets. The prospect of transferring any currency over the Lightning Network, using Bitcoin’s extensive liquidity, is now within reach.

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Trading platform Robinhood has launched its Web3 wallet on Apple’s App Store, becoming available to iOS users in over 130 countries.

Robinhood shared the news in a Mar. 1 post, stating that users would no longer need to sit on a waitlist to access the new multi-chain, self-custody wallet. It added that it will be supported on Android “later this year.”

#RobinhoodWallet is now available to everyone with iOS: https://t.co/yUdL8jCgJN pic.twitter.com/q7RIWBJUIT

— Johann Kerbrat (@JohannKerbrat) March 1, 2023

Since the beta launch of the Robinhood Wallet in September, the trading platform integrated Ethereum — in addition to already supporting Polygon — and added 50+ ERC tokens to be bought, sold and held on the self-custody wallet.

Among the tokens now supported include USDC, UNI, MATIC and SHIB.

These tokens can be traded without paying transaction fees and users are able to use these cryptocurrencies to interact with a range of decentralized applications (Dapps).

Robinhood Crypto general manager Johann Kerbrat said the support for Ethereum and ERC-20 tokens came in response to customers wanting access to more coins and tokens on more chains.

Since the beta launch, Robinhood Wallet has also added a nonfungible token (NFT) feature to enable users to collect and store their favorite collectibles on Ethereum and Polygon.

A Robinhood spokesperson told Cointelegraph that Robinhood NFTs would not be subject to Apple’s 30% commission on apps and in-app purchases of digital goods and services.

While the Robinhood Wallet is self custodied there is a range of self-verification methods that can be implemented to provide security to its Web3 users:

“When users get started, they need to set up either Face/Touch ID or a custom PIN, which they’ll use to authenticate every time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, that allows them access to their wallet and crypto.”

Robinhood stated that users “can–and should–back up their wallet” by writing it down, storing it offline, or saving it in a secure manner.

Related: Robinhood board gives nod to buy Sam Bankman-Fried’s $578M stake

However, not everyone is on board with the security mechanisms set in place with the Robinhood Wallet.

A Reddit poster by the name of “StamInBlack” wasn’t happy with the option of having seed phrases stored on iCloud, while others in the same thread expressed unrelated reservations with the trading platform.

However, Kerbrat said the feedback on the Robinhood Wallet thus far has been ”extremely positive.”

The rollout comes two days after Robinhood Markets revealed in a 10-K filing that it received a subpoena from the United States Securities Exchange Commission (SEC) in December to conduct an investigation into its cryptocurrency listings, custody and platform operations.