15
votes
Accepted
How could Monero enable instant transactions?
Daughter chains are one of the development goals for Monero. One of these daughter chains could theoretically be used to allow for instant/micro/etc transactions. The idea would be to allow super-fast ...
- 2,501
11
votes
How could Monero enable instant transactions?
Pretty much any layer 2 system, such as Lightning Network. Doing this on main chain is mostly a bad idea, as mainchain needs to be as secure as possible. Instant transactions have less security (or ...
- 5,089
10
votes
What is the purpose of locked balance?
I think the main purpose is to just prevent you from trying to spend a tx output that gets re-orged out of existence. At any point a block, or the last several blocks, or a lot of blocks can get ...
- 4,413
8
votes
Accepted
What is the block maturity value seen in many pool interfaces?
It seems like a certain number of steps or confirmations needed when a block is found by a pool (I guess it's the same when mining solo), but I can't be sure.
This is exactly right. When a block is ...
- 928
6
votes
Accepted
Can Monero in its current state handle the amount of daily transactions bitcoin does, and if so how long would a confirmation take?
The reason bitcoin network is struggling is that there are too many transactions trying to get in a block, but the maximum allowed block size is hardcoded into the protocol rules. Nothing that can't ...
- 20k
6
votes
Accepted
Hard Fork Replay Attacks?
The most obvious way is doing something like gratuitously increasing the Tx version or changing Tx structure. However, wallets have to be aware of this too, so it's a little more complicated (plus you ...
- 2,472
6
votes
Accepted
Can I cancel a transaction?
No, not really. If you didn't include a big enough fee or something it will fall out of the mempool after a day or so, but there's no way to ask all the nodes that have your TX in their mempool to ...
- 4,413
5
votes
What is the purpose of locked balance?
As jwinterm said, this is to avoid outputs being reused shortly after being created, in case of reorganizations.
It is important to realize that the effects of an output being invalidated are more ...
- 34.9k
4
votes
Accepted
Does Monero have zero-conf?
You're probably referring to the concept where a vendor will accept payment, even when the payment has not been included in a block. Sure, that works the same way in Monero that it does in Bitcoin. ...
- 5,515
4
votes
Accepted
Will Monero have unconfirmed transactions problems like bitcoin?
Bitcoin has a backlog because there's only so many transactions that can fit into their 1mb blocks.
Monero has an adaptive blocksize limit so in general it doesn't suffer from this problem. There ...
- 1,386
4
votes
Accepted
How many confirmations to be sure a transaction does not end up in an orphaned block?
Leaving aside the fact that "sure" is a subjective concept...
The network uses 10 blocks and 60 blocks to unlock monero coming from a user transaction, and a coinbase transaction, respectively. These ...
- 34.9k
4
votes
Accepted
Is there a Monero project or improvement proposal to make Monero have instant transactions?
In Monero, like other cryptocurrencies, the transactions themselves are fairly instant - they get instantly broadcast to the network and get placed in the tx pool. Wallets also see these transactions ...
- 19.4k
4
votes
Accepted
How does Monero verify a tx outputs key image?
Intuitively:
You are spending an output P, where P=xG. You spend an output by providing a signature proving you know the private key x corresponding to the public key P.
If you also declare the key ...
- 8,518
3
votes
Does Monero have zero-conf?
Monero transactions are pretty similar to Bitcoin ones regarding this: you see them on the network, they linger in the txpool till mined, the block they're in can be reorganized, and the more blocks ...
- 34.9k
3
votes
Accepted
Transaction: 6 hours and 0 confirmations
It's rush hour at the moment. Eventually blocksize will grow big enough to confirm all the transactions - including yours.
See how it develops here: http://moneroblocks.info/stats/block-medians
In ...
- 20k
3
votes
Accepted
How to check the number of confirmations for a transaction?
As far as I know there is currently no "amount of confirmations" displayed by any of the block explorers. However, an easy way around this is to subtract the block your transaction was included in ...
- 15.3k
3
votes
Accepted
Lower the Locked Balance Limit
Yes, change this line and recompile. It's a wallet thing, not consensus.
There are caveats:
You'll probably be the only one with changed config so someone could use it to fingerprint your TXes
If a ...
- 20k
3
votes
Will we eventually get rid of "locked" and "unlocked" balances?
The amount which remains unlocked after a transaction depends on the number of unspent outputs (UTXO) you have in the wallet.
Consider those scenarios:
A: One UTXO
You have filled the wallet with ...
- 620
3
votes
Accepted
How are transactions validated in monero vs bitcoin?
And KeyImages link to addresses which links to inputs
Any particular key image specified in a ring signature in a transaction must correspond to one of the output public keys (sometimes called ...
- 8,518
3
votes
Accepted
How do I stop locking my balance when executing transactions?
It's not a case of how much is in your wallet, rather how many outputs you own. If you only have 1 output, when you do a transfer, the recipient get's a new output with part of your spend output and ...
- 19.4k
3
votes
Accepted
Verifying a payment in Monero in an automatic manner, without a third-pary and without full node?
That would not work, since you cannot check the transaction id is on the chain or not without a node or a third party to do the check for you, without even getting into checking whether that ...
- 34.9k
2
votes
How to check the number of confirmations for a transaction?
You can lookup the transaction in the daemon by its txid:
print_tx TXID
This will show the transaction data, as well as where it was found: in the blockchain (along with the block height it was ...
- 34.9k
2
votes
Are there any trade-offs to daughter chains?
From my understanding, daughter chains are not as secure. They do not have the same mining strength that the normal blockchain has with its PoW system.
Daughter chains can be helpful for rapid/...
- 8,826
2
votes
Compare solutions for instant payments. Lightning Network vs Daughter-chain
It's probably better to understand first that daughter-chains are quite different to Lightning Network. A daughter-chain is a side-chain pegged to the main-chain and what's been discussed is having ...
- 19.4k
2
votes
Do you think Monero Payments are ok?
I'm sure this reasoning is along the lines as saying:
I think my employer can't be trusted. I get paid, but they don't allow me to see my colleagues pay checks.
The important thing is to know is ...
- 620
2
votes
Accepted
Understanding payment receiving concepts
The results from a get_bulk_payments call includes a block_height value, is this the first mined block this transaction appears in?
Correct.
Assume that calling get_bulk_payments with a ...
- 15.3k
2
votes
Accepted
Number of confirmations and node location
Newly received coins can be spent after 10 confirmations.
I case two conflicting transactions are sent to the network by two clients managing the same wallet, the first to arrive at the node that ...
- 3,344
2
votes
How do I start accepting monero at my restaurant/store?
There are two main ways you can go:
run your own Monero infrastructure
use a payment processor to do it for you
The first one has you running a Monero node and wallet, and use monero RPC to manage ...
- 34.9k
2
votes
Why is the number of total block confirmations different in different pools?
This is arbitrary, and the pool chooses what they are confident with.
Some number of confirmations are needed to ensure the pool really has the mined monero before they pay miners. If a pool were to ...
- 34.9k
2
votes
Accepted
How do you make sure a sender isn't sending bogus funds?
If the sender would be giving more monero than his balance,
In this event, he can't sign the transaction because the actual transaction input (P,C) is previous transaction output someone sent to this ...
- 444
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