Child-Pays-For-Parent: Bitcoin transactions now confirmed in secondsThe torment of waiting hours for a Bitcoin transactions to confirm is officially over, thanks to a little-known trick called ‘child-pays-for-parent’ (CPFP).
A Reddit post by user super3 Friday states that if a transaction is sitting idle due to a low (or ‘standard’) fee, a CPFP transaction may be created to speed it up – drastically.
An unnamed developer reportedly confirmed the validity of the trick, which can be used with a variety of popular wallets.
http://bitcoinist.com/bitcoin-transactions-confirmed-seconds/ Interesting concept. However, this means it basically create an unconfirmed sidechain. If the first tx is eventually rejected (no one can guarantee it is a valid one), then all the tx stack on top of it becomes invalid. So I am not sure it can really solve the speed issue.