BitShares Forum
Main => General Discussion => Topic started by: Riverhead on August 23, 2014, 04:03:48 am
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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?
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You are right on!
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There's a marketing bit in here somewhere.
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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 ;)
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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.
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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.
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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.
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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.
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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