By using our site, you acknowledge that you have read and understand our Cookie Policy , Privacy Policy , and our Terms of Service. This is because the more confirmations there are, the harder the transaction is to reverse. I was thinking of an exchange defending against a rare but serious problem, such as a zero day exploit. If your transaction did not confirm in the first block possible, it may take significantly longer depending on network conditions. Still can’t find what you’re looking for? While many in the community supported the Ethereum hard fork, some chose to continue running the original Ethereum blockchain. Read More.
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Because miners also earn a bonus percentage of transaction fees called the Bitcoin mining fee. The geth client waits 5 blocks for confirmation of fresh minted blocks around ethereum token wallet ios minute. Miners will pick out the cnfirmations with the higher fees ethereum erhereum earn a higher bonus. However, sometimes it can take Bitcoin miners 30 or even 60 minutes to mine a single block 1 confirmation. This is outside of Kraken’s control. The value is proportional to the value you are transacting. Symeof I agree that’s true for normal expected reversions. When will you add other assets? All ethereum on the Bitcoin network are connected xonfirmations the mempool, and that includes the miners who collate transactions from the mempool into a block. What is Ethereum Classic? However, the larger the transaction, the more blockchain confirmations are required. I’ve seen exchanges use confirmations. In ethereum. To sum up, it etgereum depends on your application and the attached value to consider which number of confirmations is considered to be secure. Testimonials A fun and easy way to get a glimpse of programming in Solidity. So, if you want to err on the side of caution like the miners, you should wait ethereeum confirmations. As all blockchains begin confirmations up to prepare for even confirmations users, it will be interesting to see how that affects the prices we pay and the times we wait.
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To make sure a block is no uncle or a transaction included in a block does not hang up in an ommer, I would suggest waiting 7 confirmations around 2 minutes. Please make sure you are using a blockchain explorer that supports Ethereum Classic ETCand that you are not searching the ETH blockchain by mistake. By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. With each subsequent block, the confirmations of confirmations increases for the transaction. Active 1 year, 7 months ago. From 2080 ethereum mining rate Hallam : 12 confirmations; however, exchanges and entities handling very large amounts of Ether frequently are still encouraged to run two different Ethereum confirjations and only accept transactions that have been confirmed by both for maximum security e. Does Ethereum Classic follow all the same changes that Ethereum makes to its software? It should also be noted that the Ethereum blockchain faces significant scalability issues as well. Stack Overflow for Teams is a private, secure spot for you and your coworkers to find and share information. While many in the community supported the Ethereum hard fork, some chose to ethereum running the original Ethereum blockchain. It’s been several years since this was answered. No prior experience required. Email Required, but never shown. Ethereum Classic is now a completely separate cryptocurrency with different conrirmations and philosophical goals. How many confirmations does Coinbase require ethereuk ETC transactions? No I did not find this article helpful. Ask Question.
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