Topic: How faster transactions can be implemented - page 3. (Read 742 times)

Many blocks are faster than 10 minutes. As a matter of fact, more than half of the blocks solved are solved in less than 10 minutes.


Correct, the difficulty is adjusted every 2,016 blocks to bring the AVERAGE time between blocks as close to 10 minutes as possible. This is the speed of blocks, not the speed of transactions.  Transactions have many different speeds, depending on what you are trying to accomplish. There is the time to create a transaction, the time to broadcast a transaction, the time for a transaction to be relayed throughout the majority of nodes, the time for the first confirmation, the time until the recipient is willing to release whatever is being exchanged, and the time until most people feel confident that the block containing the transaction won't be replaced.


Nodes are already decentralized. That has no effect on the time for blocks to be solved and has minimal effect on the time for transactions to be relayed. Since nodes are already decentralized without a pool, why do you want a pool?  Who would participate in the pool, and why? What benefit would come from a pool of nodes in place of individual nodes?

Perhaps you mean pool of miners instead of pool of nodes?  Those already exist. This allows those supplying hashpower to work together on solving a block, and then share the rewards from the block. That way their is less volatility in frequency and value of earnings from hashing. This has no effect on the frequency of blocks nor the speed of transactions globally.


Maybe.  Depeends on what you are trying to accomplish, and why you think a pool is the appropriate solution.

It's unclear what you actually try to ask; so I will just answer the title of your topic, which is probably your main question - accelerating transactions.
The best way to do so is not to shorten the block time, because scaling in general can't be feasibly done on a large-scale level purely on L1. It's best to keep L1 simple, and easy to run, and use that to secure sidechains and off-chain mechanisms such as Lightning Network.

Finally, I don't get how people always complain about Bitcoin's speed. When I send bank transfers, it often takes hours or until the next day for the money to arrive at the receiver, even though we're in the same country. International takes even longer. Meanwhile, easy pure good old Bitcoin L1 settles your transaction permanently in on average 10 minutes - that should be quick enough for most things.

Again, for micro transactions, 'streaming money' and the like, feel free to try LN, it works pretty well nowadays. And no blockchain can be this fast, even 10s block time would be pathetic compared to off-chain solutions that are virtually as fast as your network allows to send data.

What do you mean a decentralized pool of nodes?

A pool where everyone has the same rights? Where there's no owner? There isn't such thing, but even if you didn't know it, what would be the obvious answer? Why would the miners work on “centralized” pools while there were “decentralized”.

The sooner you understand the purpose of working for a pool, the sooner you'll comprehend the need for this kind of pools we already have. Essentially, the decentralized pool is the network and these pools derive computational power from miners to compete who's going to solve the next block. Then, they reward miners accordingly.

The "difficulty" manages to have one block built not faster than in 10 minutes in average. It helps to avoid collisions. If we decrease the difficulty to have 1 block in 10 seconds instead of current 10 minutes, we would have way more collisions, and the blocks we mine will have higher chance to be discarded.

What can be a solution for a decentralized pool of nodes around the world? May be already invented but I am not aware?