Transaction Speed?

Interesting project!

I would like to thank anyone who could shed some light on this area

Questions:

1)I believe that with 1 minute vs. 10 minute blocks transactions would occur faster than bitcoin, is this true?
2)How much of an effect does the use of trees have on processing time?
3)Any estimates on time for a confirmed transaction? (for currency (ether)?, and for a contract?)
4)Does transaction speed slow down with increased block chain size?
5)Will increases in internet speed, bandwidth as well as CPU speed make transactions noticeably faster?

Comments

  • drcodedrcode Posts: 62Member ✭✭
    1) Transactions are nearly instantaneously broadcast over the network. The blocks just control confirmations and give some certainty to transactions. However, as a rule, faster confirmations are less reliable, so more are needed for the same certainty. So "no" is the answer to your question- Certainty of a transaction's success is not strictly related to block times.

    2) Not sure what trees you're talking about.

    3) Don't know.

    4) Depends on the rate of transactions- If other people are sending many transactions with higher fees and the block sizes are small, you'll get crowded out and will have to wait for a future block before getting a confirmation. If there aren't many transactions, then there's room on the block for your transaction and it doesn't matter.

    5) Those factors have almost zero impact on transactions confirmation and broadcasting speed, due to network effects. The main thing that makes transactions faster is the number of miners of the currency (since more users means more network difficulty which means established blocks are less likely to be forked and you need fewer blocks to feel confident your transaction won't get rolled back.)
  • 1234xm1234xm Posts: 21Member
    few question regarding sending Ether and speed

    I wans to send some eth from myether wallet

    1. do number of ethers change speed time? for example, for the sam gas and gwei, will one ehter come faster then 100ether?

    2. which is important for sending eth regaring speed? gwei or gas limit or both of them.

    thanks
  • therocktherock Posts: 45Member
    so typically how long
Sign In or Register to comment.