Author: Clément Elbaz 2015-10-05 12:29:49
Published on: 2015-10-05T12:29:49+00:00
The number of confirmations in Bitcoin does not have anything to do with the problem that arises during a soft fork. With a non-upgraded software, one receives the same blocks and confirmed transactions as everyone else, which means that they have the exact same writings to calculate their balance. However, some transactions may be meaningless to a non-upgraded user but meaningful to those using upgraded software, causing them to miss its meaning. This is problematic for financial software because it can lead to an inaccurate balance calculation. There is no way to opt-out of this problem since people can still send new types of transactions to non-upgraded users. The incorrect result only occurs for transactions without enough confirmations, and waiting for enough confirmations can prevent inaccuracies in wallet balances.
Updated on: 2023-06-10T23:08:32.953265+00:00