Author Topic: 10 Second blocks but 5 Second Transactions?  (Read 2308 times)

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Offline yellowecho

It would be interesting to know how 1 BTC confirmation compares to 1 Nxt vs 1 DPOS.  I don't know if 10 minutes equals 1 or 6 BTC confirmations.


The thing I love about DPOS is you know quite well who is submitting the block. The block is either signed by a delegate or it's not. Much more reliable (less confirmations) than some random miner.

I like it too.. feels better and more secure like someone is doing their job and can be held responsible  ;D
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Offline Riverhead

It would be interesting to know how 1 BTC confirmation compares to 1 Nxt vs 1 DPOS.  I don't know if 10 minutes equals 1 or 6 BTC confirmations.


The thing I love about DPOS is you know quite well who is submitting the block. The block is either signed by a delegate or it's not. Much more reliable (less confirmations) than some random miner.

Offline bytemaster

There's a marketing bit in here somewhere.

I guess if we want to compare relative security I think it is safe to say:

BTSX average confirmation time 5 seconds to 8 minutes.  (1 block to 51 blocks)
BTC average confirmation time 1 hour to 20 hours  (6 blocks to 120 blocks)
NXT average confirmation time 10 minutes to 12 hours
  10 confirmations is recommended for small amounts, 720 confirmations - for big ones.

It would be interesting to know how 1 BTC confirmation compares to 1 Nxt vs 1 DPOS.  I don't know if 10 minutes equals 1 or 6 BTC confirmations. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

  10 confirmations is recommended for small amounts, 720 confirmations - for big ones.


That explains their deadline to fork or not. I don't doubt the hacker was using that block count like an eBay timer.

Offline bytemaster

There's a marketing bit in here somewhere.

I guess if we want to compare relative security I think it is safe to say:

BTSX average confirmation time 5 seconds to 8 minutes.  (1 block to 51 blocks)
BTC average confirmation time 1 hour to 20 hours  (6 blocks to 120 blocks)
NXT average confirmation time 10 minutes to 12 hours
  10 confirmations is recommended for small amounts, 720 confirmations - for big ones.

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline liondani

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Could you ever imagine average transaction times of 5 secs.
with the security that gives bitcoin with 6 confirmations in 1 hour?

Taste the future today... BitsharesX  ;)

Offline Riverhead

There's a marketing bit in here somewhere.

Offline bytemaster

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

The block time is 10 seconds but on average you're going to be half way to the time of the next block. What am I missing?