Topic: How fast is the bitcoin network's spread? - page 2. (Read 299 times)
Until a miner decides to mine the unconfirmed transaction?
I've been looking to answers for this question.
Recently I send some bitcoins to a coinbase.com's address and when I pressed "Send" it instantly loaded the payment. It's like I made a database query to coinbase.com, that fast seemed for me.
And there's the question. How fast is the spread of the bitcoin's network? When I press "Send", I send some information on my saved nodes. This means that I send them this tiny information?
I just can't get how quickly this happens. I mean, how many default nodes do I have? 500?
In order to update the coinbase's front-page it means that coinbase got the information from me.
So what happened exactly? Did I send my information to these 500 and then these 500 sent them to another 500? This means that it happened like that:
500 nodes received my information ---> 500^2 nodes received my information ---> 500^4 nodes received my information and so on?
Recently I send some bitcoins to a coinbase.com's address and when I pressed "Send" it instantly loaded the payment. It's like I made a database query to coinbase.com, that fast seemed for me.
And there's the question. How fast is the spread of the bitcoin's network? When I press "Send", I send some information on my saved nodes. This means that I send them this tiny information?
I just can't get how quickly this happens. I mean, how many default nodes do I have? 500?
In order to update the coinbase's front-page it means that coinbase got the information from me.
So what happened exactly? Did I send my information to these 500 and then these 500 sent them to another 500? This means that it happened like that:
500 nodes received my information ---> 500^2 nodes received my information ---> 500^4 nodes received my information and so on?
You use unspent outputs funding your address to create a transaction that's creating a new unspent output funding the receiving address.
This unconfirmed transaction is indeed broadcasted to the nodes you are connected to, and these nodes relay the unconfirmed transaction to the nodes they are connected to, and so on.
I have no idear how long it'll take for your unconfirmed transaction to be broadcasted to allmost all nodes in the network, but it can't take more than a couple of seconds before you tx is in the mempool of > 99% of the connected nodes.
Do be carefull tough: unconfirmed transactions are broadcasted really fast, but they just end up in the mempool. If they don't get confirmed, most nodes prune them from their mempool after ~14 days, or if the memory usage > 300 Mb. So you really need to wait untill the tx has a couple of confirmations before sending any goods or services.
I've been looking to answers for this question.
Recently I send some bitcoins to a coinbase.com's address and when I pressed "Send" it instantly loaded the payment. It's like I made a database query to coinbase.com, that fast seemed for me.
And there's the question. How fast is the spread of the bitcoin's network? When I press "Send", I send some information on my saved nodes. This means that I send them this tiny information?
I just can't get how quickly this happens. I mean, how many default nodes do I have? 500?
In order to update the coinbase's front-page it means that coinbase got the information from me.
So what happened exactly? Did I send my information to these 500 and then these 500 sent them to another 500? This means that it happened like that:
500 nodes received my information ---> 500^2 nodes received my information ---> 500^4 nodes received my information and so on?
Recently I send some bitcoins to a coinbase.com's address and when I pressed "Send" it instantly loaded the payment. It's like I made a database query to coinbase.com, that fast seemed for me.
And there's the question. How fast is the spread of the bitcoin's network? When I press "Send", I send some information on my saved nodes. This means that I send them this tiny information?
I just can't get how quickly this happens. I mean, how many default nodes do I have? 500?
In order to update the coinbase's front-page it means that coinbase got the information from me.
So what happened exactly? Did I send my information to these 500 and then these 500 sent them to another 500? This means that it happened like that:
500 nodes received my information ---> 500^2 nodes received my information ---> 500^4 nodes received my information and so on?
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