In addition, we'll look at the technologies used in Conflux's latest implementation to dramatically compress the confirmation time of the PoW chain to achieve the same security as Bitcoin's six confirmation blocks in less than half a minute.
After successful transfer, the quote will show the time of 25 blocks in the quote market (approximately 5 minutes)
Because many of these blocks are expected to exist on one client, they should not be too large. Trading volume is expected to be lower than PPC, so there is no problem setting lower frequency and smaller blocks. Block generation time is set at 60 minutes (update: can be set to every 2 to 3 years, block generation time is halved). In the long run, this will improve the confirmation time, which can also reduce the cost of storing blockchain at a time when the price of SSD drives is currently halved every 12 to 18 months.
Is to look at the user experience, mainly block confirmation time. Like ETH and EOS, block confirmation times are short and the user experience is good. BCH blocks take a long time to confirm, and the user experience is poor because of low computing power and high volatility in intervals.
In the figure, the following confirmation number 15, the confirmation number means how many blocks contain your transaction record.
Shunto touch melon, open the github of the electrum, we find the following code in the electrum/electrum/ecc.py.
electrum expected confirmation time 25 blocks
ViaWallet adds "current network situation" and "expected confirmation time" to the original selection model, allowing you to adjust the transaction fee to the confirmation time you need, achieving a "precision strike" that allows you to complete a transaction at the confirmation time you want without worrying about wasting the transaction fee.
The confirmation of 6 blocks gives the Bitcoin network sufficient time to unify the order of all blocks.
The system confirmation time is another relevant indicator, in short, the time to wait for the confirmation of the transaction. In the case of online payments, the system response time is often the time required to initiate a charge transaction. The system confirmation time is the time required for the deduction to be completed and the transaction to be confirmed. In the POW system, transactions wait for 6 blocks to be finalized. Some trading systems, in order to enhance the user experience, allow 2 blocks of transaction confirmation in small transactions, but also to achieve a balance between the user experience and the finality of the transaction.
Bitcoin has been halved twice, from 50 bitcoins to 25 bitcoins on November 28, 2012, and from 25 bitcoins to 12.5 bitcoins on July 9, 2016. The third halving is expected to take place around May 15, 2020, at a height of 630,000 blocks.
You can rest assured that they will be able to produce 51% of the blocks at this time, especially when they are reduced to only one time window, when others are standing outside, waiting foolishly for confirmation.
The reason for the increase in the irreversible speed of blocks is that by adding Byzantine fault tolerance algorithms (FTTs) to traditional DPOS, transactions are confirmed and packaged only by proxy nodes waiting to be elected, without waiting for confirmation from other non-trust nodes, greatly saving the consumption of transaction confirmation time, and allowing all producers to sign all blocks for faster irreversibility as long as no producer signs two blocks with the same timestamp or block height. The asynchronous Byzantine fault tolerance (aBFT) algorithm achieves 100% confirmation in 1 second and is irreversible.
the final confirmation time of the blocks.
Needs to wait for 6 blocks to get final confirmation. In order to enhance the.