Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: To_Omori on December 13, 2021, 02:12:35 PM
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Hello everyone, today I would like to bring up transaction confirmation topic. It is surely important to understand how trading and exchange between users take place since cryptocurrency could be used not only for long time investments, but also for daily payments and services. There is a new coin I have noticed – JDE.
JDE performs well in terms of tasks required for coin to be delivered form user to user. For coin to be delivered to specific address transaction needs to collect confirmations by being included in mined blocks. Each block transaction is included in gives one confirmation to this transaction and the more confirmations transaction has collected, the more permanent current transaction is. Comparing to other stablecoins JDE has reasonable required amount of transaction confirmations to surely guarantee user that payment made with JDE is irreversible. What is more, it saves user from so called double spending.
Surely it is great when your transaction is safe and confirmed by multiple blocks, but there is another parameter that user should think about. It is related with the rate of confirmations. For example, if it is required for coin to have 10 confirmations and each confirmation takes around 10 minutes, transaction would need around 100 minutes to be executed. As another example is well known Bitcoin. It can have up to 6 required confirmations and execution of single block takes at least 10 minutes. All that combined it sums up into around 40-60 minutes. I have heard that in this scenario JDE is outperforming average estimated time of Bitcoin or other stablecoins while ensuring reasonable number of confirmations required. I had to give JDE a chance to check, whether that increase in speed will be noticeable. From my own experience, transactions made with JDE takes around 1 minute to execute. For the most coins transactions made during the peak hours when all the transaction channels are occupied by trades are drastically slower, but not JDE due to its blockchain features and the ecosystem of which it is a part. It makes JDE a coin that could be traded and sent quickly without wasting user time on waiting, making everyday life easier for regular users and businesses. Combining security protocols, confidentiality JDE is providing with a swift confirmation time, it is interesting coin which is worth a look.