|
August 06, 2012, 03:42:03 PM |
|
Ok guys lets solve this once and for all.
I have read various posts/papers about this topic but I would like this sorted. I will word this as simply as possible.
So I have read that the time that has passed since the transaction was made is more important than the raw number of confirms. This would imply that a 4 confirmation LTC transaction is identical in terms of security to a 1 confirmation BTC one (ie. 10minutes have passed for both). Obviously this makes sense when you think about it in terms of computational power and sustaining a 51% attack over time (ltc confirms are 4x easier to re-write as you only need to sustain the 51% for 1/4th of the time of a BTC attack).
So basically LTC confirms are 1/4th as 'strong' as BTC ones, so far so good.
But lets suppose 1 minute has passed since your transaction. LTC shows 1 conf and BTC shows 0, is there any difference here? Is this an advantage for LTC or is it an illusion?
|