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If I have a transaction stuck in mempool, how can I cancel the transaction or pay more to speed it up?

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It seems that in Tezos there is no way to replace or cancel a transaction. So we would have to wait for it to be dropped (64 blocks ~64 minutes) from the mempool if transactions get stuck.

source: https://twitter.com/dsintermediatd/status/1286341689368551428

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