By Nalmaran - 02.02.2020
Monero transaction speed
show-magazin.ru › Cryptocurrency. Monero is a purely community-driven coin which is popular for its anonymity and privacy. It is also quite fast with transactions. It takes an average time of 2 minutes.
How long do Monero transactions take? Typical timeline during testing: 1 second: Remote wallet can see the transaction has been initiated 3 monero transaction speed 46 seconds: Remote wallet displays first confirmation of transaction appearing in the blockchain 26 minutes: Aliexpress webmoney wallet receives 10 monero transaction speed of the transaction monero transaction speed considers the funds fully confirmed and unlocked for spending When you send a Monero payment, it will be announced to the Monero transaction speed network instantly.
In monero transaction speed tests, in monero transaction speed 1 second, a Monero wallet on the other side of the planet will be able to see that the transaction has been announced.
This is why the annoucement of the transaction needs to be 'mined' into a block by the network of Monero nodes.
This mining is a means by monero transaction speed the nodes come to a consensus among themselves that the transaction is legitimate and not a 'double spend'. Monero transaction speed average, Monero blocks are mined every 2 minutes.
This means that after announcing a transaction, your monero transaction speed will wait for the next block monero transaction speed be mined, and then it will take around 2 minutes to be mined into that new block. For example, in our test transaction, it took 3 minutes and 46 seconds after initiating a transaction before the link wallet first became aware of the transaction as part of a Monero transaction speed block on the blockchain.
It is at this point that the remote wallet will display monero transaction speed notification that funds have been received. The funds will show in monero transaction speed balance but will not yet be 'unlocked' for spending.
After about 26 minutes, the wallet will have received 10 confirmations of the transaction and consider the funds fully confirmed and unlocked for spending.
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