I read here about the fees difference when paying to many addresses at once instead of doing it one after another. I was wondering whether this applies to the transaction time as well. Is it significantly faster if paying to N addresses at one? If so, could you please give an example, say N = 20.
1 Answer
For all transactions, "transaction time" is effectively 0. A transaction is created nearly instantaneously and broadcast to the network with no noticeable delay to a human.
What you are confirmed about are confirmation times. The time it takes to get a confirmation is only related to the transaction fee rate paid and the time it takes to mine a block. The size of the transaction is irrelevant.
answered Apr 29, 2018 at 19:17
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Does this mean that given the same fee rate, a transaction to pay one address and another transaction to pay 20 addresses will take same amount of time to be confirmed and appear on blockchain? Apr 30, 2018 at 7:47
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1@DarkTemplar By the same fee rate, a transaction with greater weight will pay a higher total fee per individual transaction (but, 1 vs many) and may enjoy a benefit when it comes to a miner selecting transactions to include in a proposed block. Many small transactions paying in total a greater fee may not seem as attractive. This, of course, is speculation.– WilltechApr 30, 2018 at 9:14
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That makes sense, thank you for clarification. In addition to that, can you give me a "rough" estimate on how longer will it take to transfer 1 to N versus 1 to 1 address. Apr 30, 2018 at 9:24
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There is no such a "roguth estimate" because there is no difference. Even if there were, it would not be noticeable due to the large amount of time in between blocks.– Andrew Chow ♦Apr 30, 2018 at 15:06