Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
by
cityglut
on 28/06/2014, 14:57:02 UTC
Quote
Yes, if you try to buy an asset with BTC, it takes about an hour to complete

I'm still not quite get why it should take one hour to complete. Let's say a block takes 10 mins. Matching takes 1 block, Btcpay 1 block, so 20 mins, what do I miss.

The reason is blockchain reorganizations, which  basically rewrite the recent history of transactions, and Bitcoin payments are irreversible. So a blockchain reorganization can invalidate a BTCpay, because it can remove a previously valid order match from the ledger.