[DRK] Instant Confirmations Instant X

[mr_random]

It still takes 10 to 15 seconds to reach 1 confirmation. Nothing special and hardly instant.

So it's not actually instant at all. Just marketing bullshit.

That's not how it works at all. It uses the MN system to verify a hash and locks the input with 10 separate entities. It takes literally seconds for confirmations.

This is rivaling Visa or Mastercard payment systems.

This is a quote from the DRK dev:

2 seconds was in a very small local environment! It should be 20-30 seconds in production, 10 if we're lucky.

that's 20-30 seconds to a totally confirmed transaction - equivalent to 6+ regular confirmations. Still something you don't get?

Yeah 20 to 30 seconds. That's not instant is it.

It makes no sense to compare it to 6 confirmations it's a different system of consensus.

It takes 20 to 30 seconds for the InstantX system to reach confirmation.

The Instant part is just marketing bullshit.

[Brilliantrocket]

Sorry that Dan took your retirement savings buddy, but you don't have to take it out on the Darkcoin community.

[mr_random]

Sorry that Dan took your retirement savings buddy, but you don't have to take it out on the Darkcoin community.

Retirement savings. I'm pretty sure I have more crypto than you will ever amass in your next twenty lifetimes.

I've posted facts and a direct quote from your developer. If that's me "taking it out" on the Darkcoin community you must be pretty scared.

If any other coin was trying to pass off 30 second confirmations as "instant transactions" there would be a hundred trolls with pitchforks screaming scam. Pure marketing bullshit.

[illodin]

If any other coin was trying to pass off 30 second confirmations as "instant transactions" there would be a hundred trolls with pitchforks screaming scam. Pure marketing bullshit.

That would require any other coin to have 30/6 = 5 second target block time. I would call such a coin scam myself too.

[clout]

Not exactly a game changer since bitshares has 10 second confirmation times.

[illodin]

Not exactly a game changer since bitshares has 10 second confirmation times.

So if bitshares has 10 second confirmation, why that prevents it from being a game changer? 

[clout]

Not exactly a game changer since bitshares has 10 second confirmation times.

So if bitshares has 10 second confirmation, why that prevents it from being a game changer? 

I'm not saying its not a good feature to have. Its not a game changer because the game has already changed.

[illodin]

game has already changed.

It will be changed when there exists a killer app taking full use of instant/fast confirms.

[FandangledGizmo]

game has already changed.

It will be changed when there exists a killer app taking full use of instant/fast confirms.

The killer app for those 10 sec confirmations is BitAssets like BitUSD  http://whatisbitusd.com/

BitShares will be starting their marketing push end Nov/early Dec including on-ramps, merchant and consumer adoption, I see they've been meeting with a partner in the global remittance business, https://bitsharestalk.org/index.php?topic=11125.0 ,  and there was talk of a BitUSD debit card too, I don't know if that's still on the cards. But yes the game may start changing in less than a month...