Ninjastic
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Board Altcoin Discussion
Re: transaction in real time?
by
shorena
on 29/04/2015, 09:01:23 UTC
Quote from: edo777 on April 29, 2015, 08:38:47 AM
Quote from: DannyHamilton on April 28, 2015, 11:23:07 AM
Quote from: edo777 on April 28, 2015, 10:07:40 AM
- snip -
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?

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.

*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?

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.