I do not know that much about Crypto Currency. But as far as I understand:

  • Whenever a new block is mined a list of transactions is executed. This means transaction speed depends on the rate with which new blocks are mined. What is that rate for Monero?
  • Difficulty of the proof of work algorithm to mine new blocks is adjusted to keep the rate as constant as possible
  • ReversalHatchery@beehaw.orgEnglish
    2·
    5 days ago

    yeah, so it’s always the receiver who decides how many confirmations to wait. webshops usually want 10 confirmations, for a better assurance that the branch of the blockchain won’t get overridden by another where the transaction did not happen.

    is that right?