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Board Beginners & Help
Re: Confirmation Time
by
inBitweTrust
on 01/03/2015, 17:18:09 UTC
It's a Poisson process, with a mean of 10 minutes. So...
It's actually not a Poisson process (poisson = discrete number of events in fixed time interval, exponential = continuous time intervals between single events) but they're closely related.

Poisson distributions either use fixed time intervals or probabilistic average rates. Bitcoin is the latter.

https://en.wikipedia.org/wiki/Poisson_distribution

In probability theory and statistics, the Poisson distribution (French pronunciation [pwasɔ̃]; in English usually /ˈpwɑːsɒn/), named after French mathematician Siméon Denis Poisson, is a discrete probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time and/or space if these events occur with a known average rate and independently of the time since the last event.