Author: Dave Scotese 2015-07-24 16:32:34
Published on: 2015-07-24T16:32:34+00:00
The suggestion is made to display a percentage rather than a meaningless number for transactions. This can be achieved by using the double spend improbability or "confidence" over a certain number of blocks. Code can determine how many blocks at the current depth of the transaction were orphaned, divide that by the total number of blocks solved in that time frame, and use that as the historical number (H). The "51% attack" number (A) can assume a bad actor has 51% of hashing power for 24 hours, and calculate the chance of the block holding the transaction being orphaned. The report would then display "# confirmations" as "99.44% confidence" using [100% - max(H,A)].
Updated on: 2023-06-10T04:00:15.205488+00:00