Why is the temporary increase in confirmations to 6 due to bip-91 important for the scalability of cryptocurrencies?

3 answers

• Dagim AlemayehuSep 30, 2020 · 5 years ago
  The temporary increase in confirmations to 6 due to bip-91 plays a vital role in enhancing the scalability of cryptocurrencies. By increasing the number of confirmations required for a transaction to be considered final, the network ensures greater security and reduces the risk of double-spending. This change helps to maintain the integrity of the blockchain and prevent fraudulent activities. Additionally, the increased confirmations contribute to the overall scalability of the network by reducing the chances of network congestion and improving transaction throughput.
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• Falak ChudasamaJul 05, 2024 · a year ago
  Well, let me break it down for you. The temporary increase in confirmations to 6 due to bip-91 is a game-changer for the scalability of cryptocurrencies. It's like adding an extra layer of security and reliability to the network. With more confirmations required, it becomes harder for malicious actors to manipulate the system and carry out fraudulent activities. This change also helps to prevent network congestion and ensures that transactions can be processed more efficiently. So, yeah, it's pretty important for the scalability of cryptocurrencies.
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• NekoStalkerApr 25, 2024 · a year ago
  From a third-party perspective, the temporary increase in confirmations to 6 due to bip-91 is a significant step towards improving the scalability of cryptocurrencies. This change enhances the overall security and reliability of the network by increasing the number of confirmations required for a transaction to be considered valid. By doing so, it reduces the risk of double-spending and ensures the integrity of the blockchain. Moreover, the increased confirmations help to alleviate network congestion and improve the scalability of the entire system. It's a positive development for the cryptocurrency ecosystem as a whole.
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