4 ms·
> Incorrect. Average wait time would be less than 5 minutes. Average wait time for a block is around 10 minutes. You may be thinking of it in terms of buses, w
by tveita 11y ago
> Incorrect. Average wait time would be less than 5 minutes.
Average wait time for a block is around 10 minutes. You may be thinking of it in terms of buses, where if there is a bus every 10th minute, you'd expect a 5 minute average wait. But blocks are mined practically independently, you could get two in a minute, or none in an hour. Turns out, no matter when you start waiting for a block, the average waiting time will be 10 minutes.
- kang 11y agoTwo in a minute or one in hour averages out to 10; the difficulty adjusts itself to do so. However, I said "less than" 5 because difficulty has been increasing and more blocks are less than 10 minutes than not.
- bduerst 11y agoWhile the difficulty is scaling it comes out to about seven and a half minutes per block, not five or below five. https://blockchain.info/charts/avg-confirmation-time?show_header=true&daysAverageString=7 https://blockchain.info/charts/avg-confirmation-time?show_he...
- kang 11y agoInteresting. Roughly 3,682,674 minutes have passed since its inception so expected blocks would be 368,267 whereas it is 391,933. Thus average should be less than 5. I guess due to low frequency of transactions the median is not the same as average.