Bitcoin Median Transaction Confirmation Time

Therefore average confirmation time should be about 5 minutes. The chart below shows the average transaction confirmation time in minutes for the year 2013.

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At the same time, Bitcoin can provide very high levels of security if used correctly.

A Bitcoin transaction cannot be reversed, it can only be refunded by the.

Instead, they get a confirmation score that indicates how hard it is to reverse them (see.

between a few seconds and 90 minutes, with 10 minutes being the average.

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Bitcoin demand grows rapidly in recent years, and the average number of transactions per.

Bitcoin, blockchain, transaction-confirmation time, priority queue.

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An attacker must match the power of the entire bitcoin network to keep up with block creation so as time goes by it becomes increasingly difficult to forge a transaction. It is generally accepted for most transactions that 6 confirmations represent enough security to assure the transition is valid.

This article will help you understand what Bitcoin Confirmations are, the.

enough for a transaction below $1,000 (on the basis that it just isn't worth an attacker's time.

It takes an average of ten minutes for each confirmation to come through.

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Bitcoin Transaction Confirmations and Blocks.

Each time a new block is inserted into the blockchain, all of the previous blocks.

transaction won't get canceled by any sort of attack – this takes on average 1 hour to achieve.

George Levy - What are Bitcoin Transaction Confirmations?An attacker must match the power of the entire bitcoin network to keep up with block creation so as time goes by it becomes increasingly difficult to forge a transaction. It is generally accepted for most transactions that 6 confirmations represent enough security to assure the transition is valid.

Take a look at Bitcoin for example. The average transactions per day have never been more than 300K: Transactions per day (source blockchain.info) Even more important, the median confirmation time for a transaction is around 8 minutes!: Median Transaction Confirmation Time (With Fee Only) and a nice image from Quandl:

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