Bitcoin Core maintainer and mining pool co-founder Luke Dashjr has calculated that Bitcoin transactions may need over 800 confirmations (5.5 days) to have a 95% chance of being finalized. This is in contrast to the commonly recommended six blocks (one hour) for irreversible settlement. Dashjr's calculation takes into account the distrust in Bitmain, which has significant influence over the bitcoin mining sector. Bitmain's control over the network's hashrate could be around 48%, according to Dashjr. He suggests that users should wait nearly six days to have over 95% confidence that their transactions are secure from Bitmain's control.



Other News from Today