BM told that "BiShares is more secure after 1 block than Bitcoin is after 6 blocks and more secure after 51 blocks than Bitcoin after 120 blocks."
How is that actually calculated?
BM told that "BiShares is more secure after 1 block than Bitcoin is after 6 blocks and more secure after 51 blocks than Bitcoin after 120 blocks."
How is that actually calculated?
Great post delulo +5%
So if your transaction makes it into a block on the public chain the probability of you being on a minority fork is 0 and your client will be YELLOW or RED to warn you if there are any problems.Ah .. right .. for those of you not knowing what BM is talking about: got to console and type blockchain_get_security_state
Good post, thanks!BM told that "BiShares is more secure after 1 block than Bitcoin is after 6 blocks and more secure after 51 blocks than Bitcoin after 120 blocks."
How is that actually calculated?
Great post delulo +5%
99.9% of the time with a solid slate of delegates and a block that we received "on time" you never have ANY forks. 100% of the time we have had over 60% delegate participation and 99.9% of the time it has been over 90% delegate participation. So if your transaction makes it into a block on the public chain the probability of you being on a minority fork is 0 and your client will be YELLOW or RED to warn you if there are any problems.
After 51 delegates you have "majority approval" which is effectively a checkpoint because no delegate is going to "double sign". 510 seconds, 8.5 minutes. Bitcoin effectively declares 120 blocks (20 hours) to be a checkpoint (and thus allow mining rewards to be spent). 8.5 minutes vs 1200 minutes.
99.9% of the time with a solid slate of delegates and a block that we received "on time" you never have ANY forks.
Good post, thanks!BM told that "BiShares is more secure after 1 block than Bitcoin is after 6 blocks and more secure after 51 blocks than Bitcoin after 120 blocks."
How is that actually calculated?
Great post delulo +5%
99.9% of the time with a solid slate of delegates and a block that we received "on time" you never have ANY forks. 100% of the time we have had over 60% delegate participation and 99.9% of the time it has been over 90% delegate participation. So if your transaction makes it into a block on the public chain the probability of you being on a minority fork is 0 and your client will be YELLOW or RED to warn you if there are any problems.
After 51 delegates you have "majority approval" which is effectively a checkpoint because no delegate is going to "double sign". 510 seconds, 8.5 minutes. Bitcoin effectively declares 120 blocks (20 hours) to be a checkpoint (and thus allow mining rewards to be spent). 8.5 minutes vs 1200 minutes.
So the 6 and the 120 blocks on Bitcoin's side are arbitrary estimates by Bitcoin core devs?
Do not tell them this (bitcoin) they are our competitor an enemy and your benefit will only be 10x your money. This is to the moon Alice!
Do not tell them this (bitcoin) they are our competitor an enemy and your benefit will only be 10x your money. This is to the moon Alice!
Ah ha! Another clue!
Eagleeye is old enough to quote Jackie Gleason...(http://2.bp.blogspot.com/-cVj8uuvWSJ4/TxQrQWIDVPI/AAAAAAAAD8w/_bEIDAYRwhg/s400/ralphkramden.jpg)
Do not tell them this (bitcoin) they are our competitor an enemy and your benefit will only be 10x your money. This is to the moon Alice!
Ah ha! Another clue!
Eagleeye is old enough to quote Jackie Gleason...(http://2.bp.blogspot.com/-cVj8uuvWSJ4/TxQrQWIDVPI/AAAAAAAAD8w/_bEIDAYRwhg/s400/ralphkramden.jpg)