How long does the average Monero transaction take until confirmation? (lemy.lol)

submitted 1 week ago by Ladislawgrowlo@lemy.lol to c/monero@monero.town

6 comments fedilink hide all child comments

I do not know that much about Crypto Currency. But as far as I understand:

Whenever a new block is mined a list of transactions is executed. This means transaction speed depends on the rate with which new blocks are mined. What is that rate for Monero?
Difficulty of the proof of work algorithm to mine new blocks is adjusted to keep the rate as constant as possible

you are viewing a single comment's thread
view the rest of the comments

[-] Wave@monero.town 1 points 1 week ago

As a rule, the transaction is in the next block within one to three minutes. There is a good chance that it will be faster than two minutes. However, it can also happen that you have to wait two minutes or even a little longer until the transaction has been recorded in a block. Based on experience, 30 seconds to 1 minute 30 seconds.