Why we need to wait 10 confirmation before new transaction?

General
1

Hello guys
so the question just like the title?

just why?
isn’t those feature feels making things slower? since it’s mean that we wait 10++ minutes to wait it, i last time waiting it for 32~ min
can’t they just remove lock 10 confirmation so we can trade more?

1 Like
2

It’s because confirmation is probabilistic. Ten confirmations is a number chosen arbitrarily. The miners are competing to create the next block with more proof-of-work. By waiting ten (or more) confirmations, a clear winner will emerge (and competing forks will be abandoned). The blockchain with the most proof-of-work is considered the legitimate one.

This video should help you: https://www.youtube.com/watch?v=bBC-nXj3Ng4

3

isn’t 2 confirmation is more than enough? i never seen my own transaction getting rejected or fooled like other coin. if they already 2 confirmation from random blockchain, it normally always good to go…

MUST WAIT 10 confirmation i think make everything “slow” since we had gap around 10-20min

4

Monero was hit by a “51% attack” before. The longer the wait time, the harder it is to pull off a “51% attack”. This is the choice that developers face:

  • less confirmations (2), easier to hit with an “51% attack”
  • more confirmations (10), harder to hit with an “51% attack”
5

ahhhh i see, now i understand,
not aware at all about past 51% attack,
btw does we now know how much node out there that host monero? or something like that suppose to be hidden?

6

The nodes communicate with each other, so it’s possible to have a faint idea of how many nodes are there. But they also communicate through proxies, hiding their true identities.

7

isn’t you think at 2025 now it’s harder to do 51% attack again?
i mean coin like litecoin they even had 1-2 confirmation check, i really sure the number of node of monero is “almost” there compared to litecoin right?