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Ethereum Average Block Time

Github - Rolandkofler/blocktime: Investigating Ethereum Blocktime Variance With R

Github - Rolandkofler/blocktime: Investigating Ethereum Blocktime Variance With R

Investigating Ethereum Blocktime variance with R Blocktime - Investigating Ethereum Blocktime with R This project analyses different aspects of the time it takes to mine a new block. What people currently know is the average block time. The monitoring sites ethstats.net and etherscan.io provide a good overview in realtime for this metric.Before Ethereum will be upgraded to Proof of Stake, the time to mine a block, the average block time is ~14 s. But block times over a minute are not uncommon.For certain applications, precise knowledge of the variance of the block times is vital, for example, realtime gambling applications where a user must wait for a result in a smart contract. The difference of two Block timestamps is made and this difference is analyzed. First, the quantiles are calculated to have a first glance of the distribution, then the frequency density and cumulative density curves are calculated.Finally a Monte Carlo simulation describes how the IID distributions for multiple confirmations would look like. The IID should be considered to be purely theoretical. In reality, the independence of blocktimes is not given! Description of the data and the sourcing of the data Blocktimes.csv contains a data set of collected between the Ethereum Homestead release and 10 June 2016. Each row represents the POSIX Date of the block mined since the first Homestead block (13000). You can collect your own data with the collectBlockTimes.js script. geth --exec 'loadScript("./collectBlockTimes.js")' attach Figure: the distribution of observing block times and their density. Peak block time is around 2.9 s, median 10 s and average 14 s, maximum observed 2 min 54 s. Min. 1st Qu. Median Mean 3rd Qu. Max. 1.00 5.00 10.00 14.35 19.00 174.00 In laymens terms:block time is at least 1 Continue reading >>

How Long Do Cryptocurrency Deposits Take?

How Long Do Cryptocurrency Deposits Take?

How long do cryptocurrency deposits take? We have a requirement for a cryptocurrency deposit to receive a number of confirmations on its blockchain before the funds can be credited to your account. After a transaction is broadcasted to a Blockchain, it is presented to be included in a block by the miners. Once a transaction has been included in a block, the transaction has had 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction. To avoid the risks of double spending, funds arent credited until a number of confirmations have taken place depending on the cryptocurrency. Each block is found at a different rate depending on the blockchain. For example, a block is found on average every 10 Minutes on the Bitcoin blockchain, and Kraken only credits XBT/BTC deposits to a clients account after 6 confirmations, which takes approximately one hour. Continue reading >>

A Gentle Introduction To Ethereum

A Gentle Introduction To Ethereum

Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, its worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works. Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The officialwebsite is Itextends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term distributed ledger). Ethereum takes this one step further, and also runs computer code equivalently on many computers around the world. What Bitcoin does for distributed data storage, Ethereum does for distributed data storage plus computations. The small computer programsbeing run are called smart contracts, and the contractsare run by participants on their machines using asort ofoperating system called a Ethereum Virtual Machine. To run Ethereum, you can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other peoples computers running similar client softwareand start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules. What does the Ethereum client software do? You can use itto: Create new transactions and smart contracts Your computer becomes a node on the network, r Continue reading >>

Wtf Ethereum! Token Sale Launch Dateupdate

Wtf Ethereum! Token Sale Launch Dateupdate

WTF Ethereum! Token Sale Launch DateUpdate We have recently been receiving a lot of questions regarding the official launch date of the Public Divi Token Sale. We decided that writing an article to address the most frequently asked questions would be the best way to deliver the information efficiently. Over the past few weeks the Ethereum network has seen a substantial slowdown in average block times. The length of time between blocks has gone from around 20s to a staggering 30s on average in just a few days(update: now 14s). More details on the Ethereum network slowdown can be found here: This has caused our projected start date for the public token sale to get pushed back, due to the fact that our smart contract is written based on a calculation of average block time vs seconds in a day. Why is the token sale based on block time, instead of a solid date? Simple answer? For security purposes. Without getting too technical in what is meant to be a quick yet informative update, essentially, block timestamps can be manipulated by miners. It has become a widely accepted best practice to utilize block time rather than timestamp when creating smart contracts. Find out more here: So, when will the token sale take place, officially? The most accurate timing we can currently give is, of course, based on block time. The Divi Public Token Sale will begin on Ethereum block number 4438800. Track block times here: Based on the average block times at the time of writing, we can expect the sale to begin approximately onWed (edited)Oct 27 2017 6:52:41 GMT-0800 (PST). However, this is subject to change based on the speed of the network. If youd like to get an up to date reading on exactly when the sale will start, we have developed this simple web app: PLEASE NOTE: The link above requi Continue reading >>

A Lower Block Time Could Help Bitcoin Scale, But Will It Work?

A Lower Block Time Could Help Bitcoin Scale, But Will It Work?

A Lower Block Time Could Help Bitcoin Scale, But Will It Work? Oct 26, 2016 at 18:35 UTC|UpdatedOct 27, 2016 at 23:06 UTC A small tweak to bitcoin could have a big impact. This has been the central point of contention in bitcoin's " block size debate ", a long-running disputeover whether tolifta hardcoded limit on the amount of data that can be included in each block of transactions. One side sees increasing the block size as an easy way to boostthe number of transactions processed on the network, potentially expanding bitcoin's user base. Those opposed to the move worry about the consequences (think centralization and instability) of such achange, or at least question the need to lift the block size in the near-term. There are other pieces to bitcoin that can be changed or moved around, and any change can make a big difference for the overall health of the network - good or bad. One data-heavy presentation from the developer conference Scaling Bitcoin earlier this month explored how changing parameters can affect the network, like how a tweak to the frequency at which blocks are created might be one way to easily grow transaction capacity. Using data pulled from their open source simulator of a proof-of-work blockchain(bitcoin and ethereum are two such blockchains), researchers from ETH Zrich arguedthat bitcoin could securely reduce its block time from 10 to 1 minute. The idea is that the change doesn't impact security negatively, but still boosts the possible number of transactions on the network. So, the argument goes, it's better overall. Arthur Gervais, a PhD student in the Institute of Information Security at ETH Zrich, told CoinDesk: "According to my research the one-minute block interval seems like the most plausible. I don't mean that it provides sufficient se Continue reading >>

The Mystery Behind Blocktime

The Mystery Behind Blocktime

Identity Evangelist, Author, Blogger, Developer, Blockchain Enthusiast, Senior Director of Security Architecture at WSO2, Apache WS Committer, Axis PMC Member Block time defines the time it takes to mine a block. Both in bitcoin blockchain and ethereum blockchain, there is an expected block time, and an average block time. In bitcoin, the expected block time is 10 minutes, while in ethereum it is between 10 to 19 seconds. Both bitcoin and ethereum, at the time of this writing use a proof of work based distributed consensus algorithm (ethereum is planned to move to a proof of stake based algorithm with its serenity release). The expected block time is set at a constant value to make sure, miners cannot impact the security of the network by adding more computational power. The average block time of the network is evaluated after n number of blocks, and if it is great than the expected block time, then the difficulty level of the proof of work algorithm will be reduced, and if it is less than the expected block time then the difficulty level will be increased. Thats the core design principle behind block time, but you will see as we proceed, how bitcoin and ethereum differentiate themselves from each other. The level of difficulty varies with the time, as per the following formula. It tries to evaluate the speed of the mining network and find out how much it deviates from the expected level. The expectation is to mine a block in 10 minutes. For example, if the average speed of mining the last 2016 blocks is 8 minutes then the new difficulty factor will be greater than one, so the current difficulty level will be increased. In case the average is above 10 minutes, then the factor will be less than 1 and the difficulty level will be decreased for the next 2016 blocks. The d Continue reading >>

Toward A 12-second Block Time

Toward A 12-second Block Time

One of the annoyances of the blockchain as a decentralized platform is the sheer length of delay before a transaction gets finalized. One confirmation in the Bitcoin network takes ten minutes on average, but in reality due to statistical effects when one sends a transaction one can only expect a confirmation within ten minutes 63.2% of the time; 36.8% of the time it will take longer than ten minutes, 13.5% of the time longer than twenty minutes and 0.25% of the time longer than an hour. Because of fine technical points involving Finney attacks and sub-50% double spends , for many use cases even one confirmation is not enough; gambling sites and exchanges often need to wait for three to six blocks to appear, often taking over an hour, before a deposit is confirmed. In the time before a transaction gets into a block, security is close to zero; although many miners refuse to forward along transactions that conflict with transactions that had already been sent earlier, there is no economic necessity for them to do so (in fact quite the contrary), and some dont, so reversing an unconfirmed transaction is possible with about a 10-20% success rate. In many cases, this is fine; if you pay for a laptop online, and then manage to yank back the funds five minutes later, the merchant can simply cancel the shipping; online subscription services work the same way. However, in the context of some in-person purchases and digital goods purchases, it is highly inconvenient. In the case of Ethereum, the inconvenience is greater; we are trying to be not just a currency, but rather a generalized platform for decentralized applications, and especially in the context of non-financial apps people tend to expect a much more rapid response time. Thus, for our purposes, having a blockchain that Continue reading >>

4 Cryptocurrencies With Much Faster Block Times Than Bitcoin

4 Cryptocurrencies With Much Faster Block Times Than Bitcoin

4 Cryptocurrencies With Much Faster Block Times Than Bitcoin 4 Cryptocurrencies With Much Faster Block Times Than Bitcoin JP Buntinx February 19, 2017 Featured , Viral One thing a lot of people do not like about bitcoin is how it takes an average of 10 minutes before a transaction receives a network confirmation. Various other cryptocurrencies, also known as altcoins, try to improve this block time by quite a margin. Some projects focusing on faster block times are more successful than others, though. Litecoin is often referred to as the silver to bitcoins gold. Albeit not everyone may see it that way, Litecoin brings some very intriguing developments in the world of cryptocurrency, that much is certain. Compared to bitcoins block time, Litecoin generates network blocks 4 times as fast on the network. It takes an average of 2.5 minutes for this process to complete, which is quite an improvement. For a cryptocurrency that offers privacy and anonymity features, Monero has proven to be quite a quick altcoin when it comes to generating new blocks on the network. With an average block time of just two minutes, Monero succeeds in providing users with anonymity features at 1/5th of the time bitcoin generates a block, which does not include any anonymity features. It is interesting to note Monero used to have an even faster block time at one point in time. The developers decreased the block time to 60 seconds when Monero was first launched, yet they reverted it back to 120 seconds once the network started to settle. While 60 second block times may sound more preferable, 120 seconds does the job just fine for Monero. Many people believe Ethereum is the worlds fastest cryptocurrency in terms of block generation time, but that is not the case It has to be said, Ethereum is somewh Continue reading >>

High Average Block Time #3432

High Average Block Time #3432

I1213 13:08:35.037855 miner/worker.go:362] Mined block (#271733 / 9c4d01d6). Wait 5 blocks for confirmationI1213 13:09:20.262285 miner/worker.go:362] Mined block (#271734 / 8a98bd6d). Wait 5 blocks for confirmationI1213 13:10:13.968488 miner/worker.go:362] Mined block (#271735 / dac66d9e). Wait 5 blocks for confirmationI1213 13:10:29.612941 miner/worker.go:362] Mined block (#271736 / 98778eef). Wait 5 blocks for confirmationI1213 13:10:33.629536 miner/worker.go:362] Mined block (#271737 / 1ba26740). Wait 5 blocks for confirmationI1213 13:11:50.032911 miner/worker.go:362] Mined block (#271738 / 97bf48c6). Wait 5 blocks for confirmationI1213 13:12:30.328832 miner/worker.go:362] Mined block (#271739 / 21bf80af). Wait 5 blocks for confirmationI1213 13:13:49.218784 miner/worker.go:362] Mined block (#271740 / 896584db). Wait 5 blocks for confirmationI1213 13:18:00.825737 miner/worker.go:362] Mined block (#271741 / 7ac75e98). Wait 5 blocks for confirmationI1213 13:19:56.456987 miner/worker.go:362] Mined block (#271742 / b5c23f6f). Wait 5 blocks for confirmationI1213 13:20:43.393038 miner/worker.go:362] Mined block (#271743 / 94f33e51). Wait 5 blocks for confirmationI1213 13:22:06.355892 miner/worker.go:362] Mined block (#271744 / 5113a38e). Wait 5 blocks for confirmationI1213 13:22:11.959662 miner/worker.go:362] Mined block (#271745 / 4d968b9f). Wait 5 blocks for confirmationI1213 13:22:17.819675 miner/worker.go:362] Mined block (#271746 / 1112f9f9). Wait 5 blocks for confirmationI1213 13:23:05.800863 miner/worker.go:362] Mined block (#271747 / 03c2366a). Wait 5 blocks for confirmationI1213 13:23:26.370205 miner/worker.go:362] Mined block (#271748 / 14d0e328). Wait 5 blocks for confirmationI1213 13:24:21.461048 miner/worker.go:362] Mined block (#271749 / f2b4537d). Wait 5 blo Continue reading >>

Ethereum Block Time Historical Chart

Ethereum Block Time Historical Chart

btc eth bch ltc dash btg xmr etc zec doge vtc ppc ftc nmc rdd blk aur nvc qrk mec bat btg bcc emc2 sc dgb nav sys pot vrc via kore cloak dope wc xwc icn unb ptc grc bela xst slr enrg efl trust net btcd rby uno btcs air sxc moon trc mint bost pxc grn hbn cat wdc super zet utc plc xpy qtl bits top nyan cc arg fire uro hal con Continue reading >>

Accounts, Transactions, Gas, And Block Gas Limits In Ethereum

Accounts, Transactions, Gas, And Block Gas Limits In Ethereum

Accounts, Transactions, Gas, and Block Gas Limits in Ethereum This article is meant to help people understand some of the basic mechanics behind accounts, transactions, gas, and the role miners play in setting the block size in Ethereum. Corrections are welcome :) There are two types of accounts in Ethereum can send transactions (ether transfer or trigger contract code), code execution is triggered by transactions or messages (calls) received from other contracts. when executed - perform operations of arbitrary complexity (Turing completeness) - manipulate its own persistent storage, i.e. can have its own permanent state - can call other contracts All action on the Ethereum block chain is set in motion by transactions fired from accounts. Every time a contract account receives a transaction, its code is executed as instructed by the input parameters sent as part of the transaction. The contract code is executed by the Ethereum Virtual Machine on each node participating in the network as part of their verification of new blocks. The term transaction is used in Ethereum to refer to the signed data package that stores a message to be sent from an externally owned account to another account on the blockchain. a signature identifying the sender and proving their intention to send the message via the blockchain to the recipient, VALUE field - The amount of wei to transfer from the sender to the recipient, an optional data field, which can contain the message sent to a contract, a GASLIMIT value, representing the maximum number of computational steps the transaction execution is allowed to take, a GASPRICE value, representing the fee the sender is willing to pay for gas. One unit of gas corresponds to the execution of one atomic instruction, i.e. a computational step. Contrac Continue reading >>

Ethereum Average Block Time

Ethereum Average Block Time

What is the expected block time?. In the Ethereum code however,. in which case targeting the median to 8 would indeed target the average block time to ~12. Ethereum Average Transactions Per Block - bitcoinpools.net Ethereum Price Analysis - Bullish bias continues. A decreased confirmation time per block allows for. on average. Unlike Bitcoin, Ethereum does not have.If the Ethereum Platform is rapidly adopted, the demand for ETH could rise dramatically and at a pace that exceeds the rate with which ETH miners can create new ETH tokens.In 30 days time it is likely that. who support a hard fork to increase the Bitcoin block size. Barry Silberts Grayscale established the Ethereum. Ethereum Contracts Are Going to Be Candy for Hackers The ethereum blockchain is a more general implementation of blockchain technology. First of all, while bitcoin's average block time is around 10 minutes,. These tokens use a standard coin API so your contract will be automatically compatible with any wallet, other contract or exchange also using this standard. Blockchain 101: If Bitcoin's a Fraud, How is Ethereum The possibilities are likely mathematically intractable, so we will just take the lazy shortcut and simulate them.Ethereum Contracts Are Going to Be. >>industry average bugs per 1000 lines of code at 15-50 and. will change in a short time. In Ethereum is more encourage.We can combine this with a probability estimate for k (using the Poisson distribution ) and get the net probability of the attacker winning after a given number of seconds. The best and more accurate ethereum mining calculator. Ethereum Mining Profitability Calculator. Hashrate and Blocktime calculated by looking at the last 64 blocks. On Slow and Fast Block Times. How the introduction of PoS will influence the security Continue reading >>

Consensus - Why Is The Average Block Time 17 Seconds? - Ethereum Stack Exchange

Consensus - Why Is The Average Block Time 17 Seconds? - Ethereum Stack Exchange

Why is the average block time 17 seconds? The network stats show a constant average blocktime of around 17 seconds. Whenever you check it is around 16~18 seconds. Reading the blog post by vitalik buterin it states the block time should be 12 seconds on average. (Update: Ok, more recent resources state a 15 second target time.) Why is the average block time constantly at around 17 seconds? Post is related to a rapidly changing event. Great question, and a clear answer. Don't forget to upvote these people! We want to have lots of clear shining examples for other people to follow on the site. Jeff Coleman Jan 21 '16 at 0:19 Due to advances in blockchain research, it was shown that significantly lower block times were possible and perhaps beneficial given the current connectivity of the internet. One of the potential risks of a low block time is a higher rate of orphaned blocks (competing blocks that do not make it into the main chain). To counter this, a GHOST protocol is used which pays for these orphaned blocks (known as uncles), adding to the security of the main chain. Instead of the main chain being "longest", it is instead "heaviest". During the development of Ethereum, several different times and targeting algorithms were tested , eventually settling around 15s. Due to the specific total difficulty calculation used, the actual time between blocks is currently around 17 seconds, however a change scheduled for Homestead will hopefully alter this closer to 15 seconds. This is only proposed as a temporary solution, as Ethereum intends to transition to proof-of-stake , potentially offering near-instant finality. Continue reading >>

How Long Do Ethereum Transactions Take? Metal | Support

How Long Do Ethereum Transactions Take? Metal | Support

In ideal circumstances an Ethereum transaction takes under 20 seconds, and some sites require multiple confirmations. You can view the average blocktime here: . Sometimes due to congestion transactions may take longer, although the Ethereum Development Team is working on scaling solutions. You can view detailed metrics and a calculator for suggested Gas (fees) here: Whenever you send someone Ethereum, the transaction goes through different devicesrunning the Ethereumprotocolaround the world that make sure the transaction is valid. Once the transaction is verified it then waits inside the Mempool. Its basically waiting to be picked up by a Ethereumminer and entered into a block of transaction on the Blockchain. Until it is picked up its considered an unconfirmed transaction or a pending transaction. In some casesthere are so many transactions and blocks are finite not all transactions are picked instantly. Sometimes you need to wait for a certain amount of time until it is included in a block. Once your transaction is included in the block it receives its first confirmation and its no longer pending. After another block of transactions is added it will get another confirmation and so on... This process for transactions needs gas (fee for the Miner) and time to gothrough your buddy. Conclusion: The time, that a transaction need is based on some factors like: Gas, Gwei, amount of miner in the network and amount of transaction in the whole network.The factors vary after some time, so that it may be outdated after tomorrow. In the most cases your Wallet calculate the best fee, that your transaction goes fast to your Buddy, but you can also calculate it on that site Continue reading >>

Difficulty Bomb In Ethereum

Difficulty Bomb In Ethereum

There is a difficulty bomb that is built into the Ethereum protocol. It is meant to facilitate the adjustment into a Proof-of-stake system by forcing mining to be absolutely unprofitable/unfeasible. The difficulty adjustment formula of the difficulty bomb is as follows: Now, you might ask, what does the difficulty got to do with me (the average users)? The answer is that the block time depends on the difficulty AND the hash rate. The block time is given by dividing the difficulty with the hash rate. Hence, the higher the hash rate, the lower the block time. From the difficulty bomb formula, you can see that it is an exponential increasing function (of the block number). An exponential increasing function looks like this: The difficulty will increase at an increasing rate as the block number increase. There will be a time when Ethereum will just grind to a halt as the block time becomes insanely long. We will calculate (at the end of this post) the approximate time when this doomsday (or so-called ice-age) happen. Difficulty Adjustment Due To Variance In Hash Rate In addition to the difficulty bomb, there is another difficult adjustment factor. This difficulty adjustment factor is to allow the average block time to remain relatively stable even if the hash rate are constantly changing (due to miners coming and going). The level of difficulty adjustment is based on the block time as follows: < 10 seconds: the difficulty is adjusted upwards by parent_diff // 2048 * 1 10 to 19 seconds: the difficulty is left unchanged >= 20 seconds: the difficulty is adjusted downwards proportional to the block time, from parent_diff // 2048 * -1 to a max downward adjustment of parent_diff // 2048 * -99 This adjustment allows the average block time of Ethereum to be fixed in the range of 1 Continue reading >>

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