Post
Topic
Board Announcements (Altcoins)
Re: [ANNOUNCE] New alternate cryptocurrency - Geist Geld
by
Lolcust
on 29/09/2011, 20:50:42 UTC

WOW thats fast, even every 15 seconds.  Why does bitcoin use such a long window (10 minutes).  I don't quite understand.  If GG can produce/verify several blocks a minute, why does it take btc 10 mins?

Long story.

Bitcoin has a different set of assumptions about threats and network. GG was made to see whether that envelope can be pushed.

Can you give me the short version of the long story if its too much...  10 minutes seems like too long.  Wouldn't BTC be better if it was 1 minute or less to confirm a transaction?

There is tradeoff between centralization and block speed.

BTC was designed as "millions upon millions of peeps mine with cpus" not "everyone is gathered in 4-6 pools"

Also, you need damn precise clocking to mine blocks at such speed (that's why GG has a built-in NTP solution to, well, ensure good time across the net)