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View: Due to mining centralization, the final confirmation of Bitcoin transactions now takes more than a week
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8 hours ago 119
According to Golden Finance, Bitcoin Core developer Luke Dashjr raised concerns about the finality of Bitcoin transactions, saying that the widely accepted six-block confirmation rules are no longer applicable. According to him, it will now take more than a week to finalize the transaction, which challenges Bitcoin’s censorship resistance. Dashjr believes that due to the increasing centralization of Bitcoin mining pools, traditional standards are no longer applicable. He explained that he tried to update the six-block confirmation target in Bitcoin Knots, an alternative to Bitcoin core. However, his calculations show that, thanks to Antpool's significant share of network hashrate, it now takes more than 800 blocks to achieve 95% security -- equivalent to about 5.5 days.
Keywords: Bitcoin
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