Binance doesn't trust many blockchains, too many confirmations needed
I sent a very small amount of Ethereum to Binance to pay some stuff and to my surprise the deposit needs over 10 confirmations and after selling it again it needs dozens of confirmations!
Do they not trust Ethereum?
I went to read more about it and that just seems to be the case.
The most recent article from Binance (that I could find) says literally dozens of confirmations are needed:
Binance will be increasing the minimum unlock count of deposits into Ethereum (ETH) network from the current 12 blocks to 64 blocks.
I do like Ethereum and I like that they transitioned from PoW to PoS, but I haven't been following the news, why did the upgrade reduce the trust? I remember that only a few confirmations were needed.
Luckily Hive is my main blockchain and crypto, and here we do have 1 block finality, but still I am disappointed that after such a long time other blockchains are not improving in terms of transaction speed.
Leave Binance doesn't trust many blockchains, too many confirmations needed to:
Best Posts From Igor Marcos
We have not curated any of igormuba's posts yet. But you can encourage our curation team to review posts by visiting them regularly and by referring other readers. Because we give priority to frequently read content.
More Posts From Igor Marcos
- No wonder most of the HIVE supply is sitting on exchanges, it is paying 20% APR
- Probably my last power up for a while
- Brasil vs Japan world cup memes (em português)
- Censorship is needed to some extend. Block KNOWN spammers transactions from RPC. They can run their own nodes if they want to.
- AI Is Bad, but It Only Exposed the Cracks: The Hardware Shortage Was Bound to Happen
- Hive is full of economic flat earthers
- Mcfarhats proposal was funded again becaus eof a single big witness vote
- Hive Dev Proposal #2 fell below the return line. The advice from the top is to buy more HIVE.
- I opened a protocol PR: scale DHF payouts when HBD printing is suppressed
- Pretend the HBD haircut already happened. What would you do? A Cry to witnesses, holders and Hive full-time employees