Why is the confirmation time of bitcoin slow
Publish: 2021-04-18 20:13:48
1. You may have been delayed in bitcoin transactions. For this reason, okcoin makes the following explanation on the concerns and doubts of users
methods / steps
1 bitcoin network is a global P2P network, which is jointly maintained by all the nodes (which can be understood as computers) accessing the network. On average, the global network (not a company or an indivial) will confirm the transaction once every 10 minutes. According to the network rules, the bitcoin received by the user needs to be confirmed six times (that is, one hour) before it can be used by the user to pay again
2 recently, bitcoin's arrival speed is slow, because there are too many transactions in the whole bitcoin network, and the block capacity is close to the upper limit, resulting in the congestion of bitcoin network, and slowing down the confirmation of bitcoin on major trading platforms. This is determined by the characteristics of bitcoin network itself and is not controlled by the trading platform
3 generally speaking, if the transaction is not confirmed by the bitcoin network for more than 3 days, bitcoin will be returned. Unconfirmed bitcoin will not disappear, please don't worry. This process is determined by the characteristics of bitcoin network itself, and the trading platform cannot intervene in the operation. Therefore, please wait patiently for the confirmation or return of bitcoin network
4 there is no way to cancel the exported bitcoin, which needs to be confirmed by the bitcoin miner; If you want to speed up the confirmation, you can appropriately increase the service charge paid to the miners, which is not collected by the platform.
methods / steps
1 bitcoin network is a global P2P network, which is jointly maintained by all the nodes (which can be understood as computers) accessing the network. On average, the global network (not a company or an indivial) will confirm the transaction once every 10 minutes. According to the network rules, the bitcoin received by the user needs to be confirmed six times (that is, one hour) before it can be used by the user to pay again
2 recently, bitcoin's arrival speed is slow, because there are too many transactions in the whole bitcoin network, and the block capacity is close to the upper limit, resulting in the congestion of bitcoin network, and slowing down the confirmation of bitcoin on major trading platforms. This is determined by the characteristics of bitcoin network itself and is not controlled by the trading platform
3 generally speaking, if the transaction is not confirmed by the bitcoin network for more than 3 days, bitcoin will be returned. Unconfirmed bitcoin will not disappear, please don't worry. This process is determined by the characteristics of bitcoin network itself, and the trading platform cannot intervene in the operation. Therefore, please wait patiently for the confirmation or return of bitcoin network
4 there is no way to cancel the exported bitcoin, which needs to be confirmed by the bitcoin miner; If you want to speed up the confirmation, you can appropriately increase the service charge paid to the miners, which is not collected by the platform.
2. It seems to take half an hour to an hour. Generally, one confirmation is enough, but some platforms need three to five confirmations.
3. If you want to ensure the irreversibility of the transaction, you have to wait for six data blocks to be fully confirmed, which takes at least one hour to confirm.
4. Generally, only the payee can return bitcoin after 24 hours. Any bitcoin transaction is irreversible and can only be returned by the payee.
5. Radar coin will, bitcoin did not encounter this situation!
6. If the block is not fully confirmed, please wait patiently. Only after the confirmation is completed can the platform enter the account for you
if the block has been fully confirmed, but the okex account has not arrived, please contact the online customer service or submit the work order for processing.
if the block has been fully confirmed, but the okex account has not arrived, please contact the online customer service or submit the work order for processing.
7. The time stamp in the blockchain exists in the block from the moment the block is generated. It corresponds to the authentication of each word information and proves the authenticity of the information record
for the time stamp in the blockchain, jinwowo group understands it like this:
the time stamp is written directly in the blockchain, and the generated blocks in the blockchain can not be tampered, because once tampered, the generated hash value will change and become an invalid data
each time stamp will also include the previous time stamp into its random hash value. This process is repeated and connected in turn, and finally a complete chain will be generated.
for the time stamp in the blockchain, jinwowo group understands it like this:
the time stamp is written directly in the blockchain, and the generated blocks in the blockchain can not be tampered, because once tampered, the generated hash value will change and become an invalid data
each time stamp will also include the previous time stamp into its random hash value. This process is repeated and connected in turn, and finally a complete chain will be generated.
8. Node confirmation is required. This is a super account book. The time you wait for is actually the process of recording accounts. If you want to confirm it quickly, you can increase the service charge.
9. The reason for waiting 10 minutes is that 10 minutes is the average time required for the system to find an effective trading chain
it is worth noting that based on luck, the time is actually a little longer or shorter, and 10 minutes is just a simple average
the transaction chain block displayed as "confirmed" or "confirmations" in the software interface records how bitcoin is unanimously recognized by the network and who owns it. Once it is found that everyone agrees that you have ownership of bitcoin recorded in a block, you can spend the bitcoin. If someone tries to cheat the whole system by canceling a transaction, it is possible that some nodes on the network will recognize it before it is finally determined to be invalid
therefore, the more confirmations a transaction gets, the lower the risk that the transaction will be falsified or revoked. It only takes six blocks or an hour to make the amount of computation needed to cancel the transaction completely impractical. This is much better than the fact that a credit card can refuse to pay within three months after a transaction.
it is worth noting that based on luck, the time is actually a little longer or shorter, and 10 minutes is just a simple average
the transaction chain block displayed as "confirmed" or "confirmations" in the software interface records how bitcoin is unanimously recognized by the network and who owns it. Once it is found that everyone agrees that you have ownership of bitcoin recorded in a block, you can spend the bitcoin. If someone tries to cheat the whole system by canceling a transaction, it is possible that some nodes on the network will recognize it before it is finally determined to be invalid
therefore, the more confirmations a transaction gets, the lower the risk that the transaction will be falsified or revoked. It only takes six blocks or an hour to make the amount of computation needed to cancel the transaction completely impractical. This is much better than the fact that a credit card can refuse to pay within three months after a transaction.
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