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14 votes
Accepted

Shortest and Longest block interval time ever recorded in Bitcoin

(This data is current through block 535276.) Based on block timestamps (which do not have to be accurate), the longest difference between successive blocks is 463160 seconds (5 days, 8 hours, 39 ...
Nate Eldredge's user avatar
12 votes

How would faster blocks cause mining centralization?

Why faster blocks? This conversation often starts with someone pointing out that shortening the block interval would allow for a quicker first confirmation, reduce variance in mining revenue, and ...
Murch's user avatar
  • 75.7k
11 votes
Accepted

What is the largest number of blocks that have ever occurred in 1 hour?

Most likely, you'll have to download all the block headers. The easiest way is to get them here. Note each block is 80 bytes so it's roughly a 30 MB download. Next, what you're going to need to parse ...
Jimmy Song's user avatar
  • 7,759
7 votes

Why not implement GHOST in bitcoin?

GHOST is outdated, the more relevant protocol based on recent research by Aviv Zohar et al is called "SPECTRE" - https://medium.com/@avivzohar/the-spectre-protocol-7dbbebb707b5, https://eprint.iacr....
Meni Rosenfeld's user avatar
7 votes

Why can the block production rate be as low as two per hour?

The time to produce the next block is completely unaffected by the number of unconfirmed transactions. The time is generally expected to follow a Poisson distribution as explained in answers to a ...
RedGrittyBrick's user avatar
6 votes
Accepted

Why not decrease the difficulty to increase capacity?

One problem is that lower block times mean an increased chance of forking, which makes head of the chain, and the system, less reliable. Another problem is that it normally takes a block a few ...
Steve Ellis's user avatar
  • 1,072
5 votes
Accepted

How do you answer the question "Why 10 mins?" for beginners?

Block time is a tradeoff between: Network propagation time Amount of work wasted due to chain splits (miners continuing to work on the last block before becoming aware a new one was found)
Javier's user avatar
  • 286
5 votes

Can we look at how long it took to solve for the most recent block in the blockchain? (and how?)

Blocks have timestamps, but they are not very accurate. The protocol rules only (roughly) require them to not be more than 1 hour in the past and not more than 2 hours in the future. At least ...
Pieter Wuille's user avatar
5 votes
Accepted

Bitcoin alpha version with 15 minutes block time interval

Cryddit on Bitcointalk posted some source code that Satoshi supposedly emailed to him. This code contains a target interval of 15 minutes rather than 10. It is in https://bitcointalk.org/index.php?...
Ava Chow's user avatar
  • 70.8k
4 votes
Accepted

The probability that the entire network generates at least two blocks within 10 minutes?

Since current hashrate and current difficulty level should be matched up usually, we can disregard them. (Although, we could easily accommodate them if they are diverging as well.) Finding blocks is ...
Murch's user avatar
  • 75.7k
4 votes

Can a blockchain from the future be synchronized today?

Extremely creative question. Most of UTF-8's answer is correct. I'd like to observe a few consequences: If someone brought a future blockchain to current reality and even 11 blocks were immediately ...
Jimmy Song's user avatar
  • 7,759
4 votes
Accepted

How does mining process takes Approximately 10 minutes?

To make it simple: Mining consist on finding a specific block that once hashed gives a value bellow a certain threshold (the target). The target is recalculated every fixed amount of blocks (2016), ...
sr_gi's user avatar
  • 3,220
4 votes
Accepted

How are block interval, block size and effective throughput related?

First off, it is worth noting: this paper is not only talking about throughput in the 'transactions/second' sense, it is also addressing the effects of block size and interval on the network's latency ...
chytrik's user avatar
  • 18.3k
4 votes

Shortest and Longest block interval time ever recorded in Bitcoin

I'm not the author, but found this code: http://blockchainsql.io/wkeno3 Top 10 longest (using timestamp in block header, which can vary up to 2 hours from actual time) Block 1: 2009-01-03 463160 ...
Stephen Gornick's user avatar
4 votes

What happens if the block's generated are exactly 10 minutes?

Exactly nothing. The difficulty would remain the same.
Pieter Wuille's user avatar
3 votes

Probability that a block will be confirmed in x minutes

The time T until a block is mined follows an exponential distribution. Assuming the difficulty has properly calibrated to the network hash rate, the rate parameter for T will be λ = 1/10 per minute. ...
Nate Eldredge's user avatar
3 votes

How are block interval, block size and effective throughput related?

Let's think of blocks as a basket. Each transaction is an apple weighing 0.1 kg. You are the network. Currently, let's say we have a basket large enough to carry 1000 apples (10kg). As the network, it ...
Raghav Sood's user avatar
  • 17.1k
3 votes

Why not multiply "six confirmations" and divide Time-Between-Blocks and Reward by the same factor?

In consideration of replacing the 1 block with N blocks in the same time frame, N > 1, I see the following points: Advantages Expected time until first confirmation is reduced Mining revenue is ...
Murch's user avatar
  • 75.7k
3 votes

Which cryptocurrency has the smallest block time?

EOS has blocks that are published every ~500ms, so around two blocks per second. That's a contender for the top spot for sure
rezadru's user avatar
  • 31
3 votes
Accepted

Why is Poisson instead of Negative Binomial used for computing attacker's potential progress?

I have found the answer in this article by Meni Rosenfeld, page 7. The problem should indeed be modeled with a Negative Binomial distribution, and the computations done on Satoshi's paper are ...
Carlos Pinzón's user avatar
3 votes

Which is the better estimator for future mining intervals, the 10 minute protocol target or the observed, historical average?

For a good portion of its history the bitcoin network has seen continuous increases in difficulty, which warps the average block time to be below 10 minutes until the next difficulty adjustment. If ...
Claris's user avatar
  • 15.4k
3 votes

What are some pitfalls of having 1 minute blocktimes? What vulnerabilities would this introduce?

Shorter block times hurt decentralization because they hurt smaller mining pools because smaller mining pools depend on orphaning rate more because orphaning rate depends on the number of competing ...
MCCCS's user avatar
  • 10.2k
2 votes

Why is Poisson instead of Negative Binomial used for computing attacker's potential progress?

Each try in Bitcoin mining is stochastically independent of every other try. Both the Bernoulli process and the Poisson process model independent events, however, the Bernoulli process is focused on ...
Murch's user avatar
  • 75.7k
2 votes

Why is Poisson instead of Negative Binomial used for computing attacker's potential progress?

I think you are correct, since the success/failure of each nonce to satisfy the difficulty target is binary, rather than continuous, this is a discrete probability distribution and the correct ...
Bob McElrath's user avatar
2 votes

What if the execution time for an alt coin script exceeds the block time?

This is a potential issue in bitcoin but much more so in altcoins. Bitcoin is very conservative in the richness of its transaction script. Altcoins with a faster block time and/or less restrictive ...
Jonathan's user avatar
2 votes

Who decides that the new block is ready to hash?

Each miner starts working on a new block, as soon as they hear about the latest one being found. To that end, miners create block candidates and apply the hashing function. As the outputs are ...
Murch's user avatar
  • 75.7k
2 votes
Accepted

Who decides that the new block is ready to hash?

A new block is ready to hash as soon as the last block has been solved. Miners immediately start to try solving the next block. As soon as one of them succeeds, that block is published and all the ...
Greg Hewgill's user avatar
  • 3,421
2 votes

Can a blockchain from the future be synchronized today?

would Bitcoin reject a future blockchain (a.k.a. FBC) immediately? Only in part. There will probably be some blocks which are earlier than the network-adjusted time + 2 hours (which is the criterion ...
UTF-8's user avatar
  • 3,224
2 votes
Accepted

Why are Bitcoin transactions sometimes confirmed instantly if blocks are mined every 10 minutes?

A little more information is necessary to tell you exactly what happened to your transactions that were confirmed "almost instantly" but what you've said is correct: The bitcoin protocol is such that ...
Matt Popovich's user avatar
2 votes
Accepted

How does mining work on the moving target (variables change every second)?

Realistic miners run through all 2^32 possible nonces in much less than a second. If a transaction occurred after you started your nonce search, then your block won't include that transaction. There'...
David Schwartz's user avatar

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