Published on: 2012-01-27T16:37:05+00:00
Amir Taaki suggests that the reason for adding 20 confirmations is likely to ensure that transactions are accepted by the network when sent out and to prevent potential network partitions causing another fork to get built up. At around 20 confirmations, it can be reasonably assumed that the rest of the network also has 100 confirmations off the original mined block. However, at 100 confirms, there may be a chain ahead of everyone else or a temporary network partition (islanding) that causes another fork to get built up, leading to not everyone having 100 confirms.This email raises an important question about the decision to add 20 confirmations to COINBASE_MATURITY. It suggests that Satoshi may have overestimated the number of competing races between mined blocks, which led to the implementation of this measure. Taaki speculates that the goal may have been to ensure that transactions are widely accepted by the network before being considered fully confirmed.Overall, this email highlights the intricacies of the Bitcoin protocol and the factors that influence the confirmation process. It brings attention to the potential risks and considerations involved in determining the appropriate number of confirmations needed for a transaction to be considered secure. The discussion initiated by Taaki prompts further examination of the rationale behind COINBASE_MATURITY and its implications for the overall security and stability of the Bitcoin network.
Updated on: 2023-08-01T02:54:19.404539+00:00