Topic: transaction in real time? (Read 727 times)

there are some different for the pocess of confermatin and confermation time from one and another block, and security level in all the coin that use Proof of Stake??

No, there is no difference in the process of confirming a transaction depending on its value. People tend to require a different number of confirmations for them to feel comfortable with the transaction. That however is subjective and has nothing to do with the inner workings of bitcoin. Bitcoin has the most valuable network (in terms of mining costs) that ensures an attack is very costly, which results in its high security that dwarfs every other coin.

*Next thing to be aware of is that bitcoin provides orders of magnitude more security than any other decentralized crypto currency right now

bitcoin spend more time for confirm different transacion? if the risk is big or the amount is big, more time... and if the risk is low and the amount is little, less time... correct?


what do you think about ripple? and the sistem of confirmation time

First thing to be aware of is that confirmation is unnecessary in many situations in bitcoin. In those situations, transactions can be considered to be nearly instant and confirmation time is unimportant.

Next thing to be aware of is that bitcoin provides orders of magnitude more security than any other decentralized crypto currency right now.

Finally, 10 minutes is a very short time to wait in those few situations where it isn't safe to accept an unconfirmed transaction.

Therefore, with immense security and short 10 minute confirmation times on average, it would seem that bitcoin provides the best compromise between time and level of security.

For online shopping it may be sufficient, but imagine when you would like to buy chocolate bar in a shop you wouldn't want to wait 10-15 minutes for confirmation. And there is always risk of double spending.
Confirmation times of bitcoin cannot be lowered because it will risk network security.

agreed with you no altcoin is better than bitcoin in any matter, bitcoin has no comparison other because it is unique and premier coin ever.

so what you think about it's merchant acceptance and adoption than there is no other coin like Bitcoin, if you concern about security level than again Bicoin has top notch security level, let's suppose if you send amount in any other altcoin than there will be hard to find merchant about it. because other coins gives you limited option of usage.

When you send Bitcoin, it will confirm within 10-15 minutes if it has recommended fees. Isn't that fast and enough?

Transactions may be faster with altcoins but the accuracy will get may be exponentially lower. If you do a transaction with 0 confirmations in the bitcoin network its nearly instant.

yes thanks i'm talking about confirmation time?

and i' m curious if there is an alt coin that is a good compromise between time and level of security?

DASH
https://bitcointalksearch.org/topic/anndash-dash-dashorg-first-self-funding-self-governing-crypto-currency-421615

LIMX
https://bitcointalksearch.org/topic/annlimecoinx-rebrand-to-bitsend-895425

iCASH
https://bitcointalksearch.org/topic/annicash-icash-anonymous-x11-masternodes-darksend-instantx-996567

It uses a tech called "InstantX" to make the transaction confirmations instant (or in your words, real-time).

I assume you are talking about confirmation time not transaction time. Transaction time is commonly understood as the time it takes for the other party to know a transaction exists. Bitcoin does this in a matter of seconds, I doubt any alt is faster in that regard.

Confirmation time is something completly different. Its the time it takes for your transaction to be in a block. For bitcoin the average time for a new block is 10 minutes and IIRC the average time for the first confirmation is ~5-7 minutes. This varies of course and there are some alt coins out there that want to make you think their coin is better because their average time for the first block is e.g. 1 minute. Keep in mind though that less time between two blocks means also more work wasted, because it creates a higher chance for orphans. This will make the alt coin network less secure, because it would need more resources to offer the same level of security (to prevent a 51% attack). Besides that an alt coin is typically less secure because less people are invested into it and thus less overall hashing power is spent on the alt coins network.

To sum this up, yes you can lower the time between two blocks, but its a trade off with network security. For miners a higher time between blocks is preferable, because it lowers the risk of orphans and thus of wasted work (considering a PoW coin).

Yes, that is wrong.

ahahahahahah 

sorry probably i have some problem to explain.

in this day i have studied the alternative coin (like Litecoin Ripple, Black ecc ecc), and i have seen that some of those try to attack bitcoin, because they are more fast in trasaction or in minig process.

This is wrong?

Yes, there is a coin called Bitcoin that has transaction times in a few seconds. You may want to give it a try.

Hi everybody,

i would like to know, if there is an altcoin that can do the transaction in real time, or in a very very short time.

which is the best for time in transaction peer to peer?

and which is the best for the mining time?

THANKS!!!