When can a transaction be considered confirmed?

+2 votes
When can a transaction be considered confirmed (in Multichain)?
After generating the block in which the transaction is located, can it be considered confirmed?
asked Sep 19, 2017 by Lukasz

2 Answers

0 votes
Yes, it is confirmed to a certain level after it is included in one block. But in a permissioned blockchain you can consider it fully confirmed (i.e. definitely not on the wrong fork) once there has been a full "round" of confirmations, i.e. once it is buried underneath:

(number of permitted miners) * (mining diversity blockchain parameter)

... rounded up

(This only works if mining diversity > 0.5 as it should be in any production blockchain)
answered Sep 20, 2017 by MultiChain
0 votes
It is 'confirmed' from the first block like you say, but its not considered secure or confirmed in some other platforms.

There really should be n amount of confirmations before its considered confirmed|secure, but thats for you and your system to decide.  for example - I think bitcoin uses 6 confirmations - 6 blocks deep until its confirmed? When it comes to miners and the rewards, I believe its 10 blocks until it can be spent?

On multichain this is dependent on some mining settings or if its on a single node that can mine. If mining is done as a round robin or a single node is mining, the transactions is confirmed immediately. It is still insecure, until the next block writes on top. The next block (if mine empty rounds is on), will confirm in one hour 6 times, which usually enough security. If you dont mine additional blocks and the last block is confirmed only once, its vulnerable - unless of course you are the only miner with permissions where then it wont really matter.
answered Sep 20, 2017 by MaSsv