Title: Why are nodes so slow to confirm transactions? Post by: thesavoyard on March 12, 2018, 05:05:43 PM I understand why it takes time for miners to pick up a transaction, they have 1mb limit per block they win and they prioritize higher fees. But why is it that you get stuck on 1-2 confirmations for so long? It's already been mined, it should spread through the BTC nodes fast, shouldn't it?
Title: Re: Why are nodes so slow to confirm transactions? Post by: stevegee58 on March 12, 2018, 05:10:58 PM The confirmation count is the first block which actually contains the transaction plus the blocks after that.
Title: Re: Why are nodes so slow to confirm transactions? Post by: franky1 on March 12, 2018, 05:27:34 PM I understand why it takes time for miners to pick up a transaction, they have 1mb limit per block they win and they prioritize higher fees. But why is it that you get stuck on 1-2 confirmations for so long? It's already been mined, it should spread through the BTC nodes fast, shouldn't it? confirms are not created based on how fast they relay through the network. so, let me explain it takes time for a pool to choose which transaction to add to a block. usually they pick the highest fee first and then let in cheaper ones if room. once accepted and that pools block wins the race of getting a solved block via hasing(mining) before other pools, the transactions in that block then are deemed to have 1 confirm. the next block has other transactions and when the block is solved that block has one confirm, meaning the previous block(containing your tx) is deemed as having 2 confirmations. with each new block created gives the previous blocks +1 confirms.. so if there were 3 block created after the one containing your tx. that means your tx has 4 confirms. the whole 'confirm in 10minutes' is NOT A RULE.. its a suggested guideline for ELI-5 speak(plain speak/laymans terms). the bitcoin code is actually to aim for 2016 blocks over 2 weeks, and thats the policy.. nothing more... which ony for the purpose of plain speak/laymens terms/ELI-5 translates to 144 blocks a day or 1 block every 10 minutes.. but as i said thats not a rule thats just laymens speak translating the 2 week policy into more understandable term/timeframe for average joe to grasp some blocks can be found in just a couple minutes or a couple hours. which is why some 'confirms' can happen quickly or take along time Title: Re: Why are nodes so slow to confirm transactions? Post by: thesavoyard on March 12, 2018, 10:52:37 PM I understand why it takes time for miners to pick up a transaction, they have 1mb limit per block they win and they prioritize higher fees. But why is it that you get stuck on 1-2 confirmations for so long? It's already been mined, it should spread through the BTC nodes fast, shouldn't it? confirms are not created based on how fast they relay through the network. so, let me explain it takes time for a pool to choose which transaction to add to a block. usually they pick the highest fee first and then let in cheaper ones if room. once accepted and that pools block wins the race of getting a solved block via hasing(mining) before other pools, the transactions in that block then are deemed to have 1 confirm. the next block has other transactions and when the block is solved that block has one confirm, meaning the previous block(containing your tx) is deemed as having 2 confirmations. with each new block created gives the previous blocks +1 confirms.. so if there were 3 block created after the one containing your tx. that means your tx has 4 confirms. the whole 'confirm in 10minutes' is NOT A RULE.. its a suggested guideline for ELI-5 speak(plain speak/laymans terms). the bitcoin code is actually to aim for 2016 blocks over 2 weeks, and thats the policy.. nothing more... which ony for the purpose of plain speak/laymens terms/ELI-5 translates to 144 blocks a day or 1 block every 10 minutes.. but as i said thats not a rule thats just laymens speak translating the 2 week policy into more understandable term/timeframe for average joe to grasp some blocks can be found in just a couple minutes or a couple hours. which is why some 'confirms' can happen quickly or take along time Thanks for clarifying, it kind of makes masternodes more attractive though. Waiting for 3 confirms as a payment should take 30 minutes on a normal day. Is lightening addressing this issue for retailers or solely for p2p? Title: Re: Why are nodes so slow to confirm transactions? Post by: bayu7adi on March 12, 2018, 10:56:57 PM I understand why it takes time for miners to pick up a transaction, they have 1mb limit per block they win and they prioritize higher fees. But why is it that you get stuck on 1-2 confirmations for so long? It's already been mined, it should spread through the BTC nodes fast, shouldn't it? blockchain will undergo a revolution as wellbecause more and more users are coming for cryptocurrency then, blockchain technology should also be updated Title: Re: Why are nodes so slow to confirm transactions? Post by: Tooevilforyou on March 20, 2018, 01:36:04 PM It's because of the number of transactions going through at the same time which affects the speed of the nodes and how fast transactions go through.
Title: Re: Why are nodes so slow to confirm transactions? Post by: bitart on March 22, 2018, 09:41:49 PM I understand why it takes time for miners to pick up a transaction, they have 1mb limit per block they win and they prioritize higher fees. But why is it that you get stuck on 1-2 confirmations for so long? It's already been mined, it should spread through the BTC nodes fast, shouldn't it? blockchain will undergo a revolution as wellbecause more and more users are coming for cryptocurrency then, blockchain technology should also be updated This solution will solve the problem of the slow confirmation, so if you don't want to get involved in testing, you only need to wait. More and more people are interested in bitcoin and the other cryptos, but I don't see their willingness to learn about it, all they want to know is that the cryptos are the key to be rich, really quickly, the details are not important for most of them... Title: Re: Why are nodes so slow to confirm transactions? Post by: utiltox on March 22, 2018, 09:46:41 PM because we have an imperfect Internet, little speed of data processing.therefore, transactions are delayed during transactions
Title: Re: Why are nodes so slow to confirm transactions? Post by: jems on March 22, 2018, 10:57:27 PM because we have an imperfect Internet, little speed of data processing.therefore, transactions are delayed during transactions Stop saying anything you do not understand it, the OP has got the answer and your post is just a waste of time.re-read and stop spaming. 8) |