New Data Encloses, Bitcoin Is 11 Times Much Faster As Compared To Litecoin
Not All The Confirmations Of Blockchain Are Exactly The Same:
So exactly what amount of confirmations are basically needed by the respective altcoins to generally provide a similar amount of work to make the network more safe and secure? And generally how much long do those confirmations basically take? Luckily, the one and only developer Luke Childs usually made a specific thing, then Charlie Shrem basically tweeted that particular thing.
Number 1: Bitcoin (BTC)
The final benchmark, with a market cap of an amount of over $130 billion and only 6 further confirmations are needed to make the network completely safe and secure. The estimated time that is required is 1 hour and 2 minutes.
Number 2: Ethereum (ETH)
Let us now take a look at Ethereum, the second largest cryptocurrency that is long-standing by the market cap at an amount of over $20 billion. To basically do a similar amount of work to make the network more secure as confirmations of 6 bitcoin need almost 1400 number of confirmations. The estimated time that is required is 5 hour and 11 minutes (or 5x times slower as compared to Bitcoin).
Number 3: Litecoin (LTC)
A quite early likeness of Bitcoin, with a bit different algorithm of hashing, the 5th largest cryptocurrency is called Litecoin, with over $5.75 billion of a market cap, it would basically take around 250 number of confirmations to perform the work that is quite equivalent to the work of confirmations of 6 BTC. The estimated time that is required is 11 hours and 19 minutes ( or 11x times slower as compared to Bitcoin).
Number 4: Bitcoin Cash (BCH)
The hard work of the Bitcoin Cash is quite easy to make comparisons because it utilizes a similar algorithm of hashing. As seen in the market cap, it is basically the 4th biggest cryptocurrency at over a rate of $6.6 billion. But it generally would take about 122 confirmations to basically provide a similar amount of work to make the network a lot more secure and safe at confirmations of 6 Bitcoin. The estimated time that is required is 19 hours and 19 minutes ( or 18x times slower as compared to Bitcoin).
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