Does the number of online computers on the blockchain network affect bitcoin transaction speed?

[Brushless4500KV 4214]

As you know, the number of confirmations in bitcoin transactions have a direct effect on transaction speed. A transaction with 3 confirmations will be processed faster than the one with 6 confirmations. The process of confirmation is approved by any computer which is on the blockchain network. So, we have a network with a lot of computers and miners but not all of them are always online to confirm transactions.

What I want to know is that whether the number of online computers on the network can affect bitcoin transaction speed or not? Does bitcoin transaction speed increase if there are more online computers on the network? Does it mean that bitcoin transaction speed will improve in the future when the number of computers on blockchain network increase?

[febriyana 934]

I don't know what you mean computer.

because what i know the Bitcoin transaction based on mining process. All of them is processed by miner. Miner must online everytime. So basicly miner solving the block then gain a reward and also confirm the transaction. If you think normal computer online will affect speed Bitcoin transaction, i think not simple like that. 

 

[Crypto123 0]

 

21 hours ago, Brushless4500KV said:

As you know, the number of confirmations in bitcoin transactions have a direct effect on transaction speed. A transaction with 3 confirmations will be processed faster than the one with 6 confirmations. The process of confirmation is approved by any computer which is on the blockchain network. So, we have a network with a lot of computers and miners but not all of them are always online to confirm transactions.

What I want to know is that whether the number of online computers on the network can affect bitcoin transaction speed or not? Does bitcoin transaction speed increase if there are more online computers on the network? Does it mean that bitcoin transaction speed will improve in the future when the number of computers on blockchain network increase?

According to what I know the answer is yes, the number of computers or mining devices working on    bitcoin mining around the world affects the speed of transaction confirmation, the higher the number the faster the transaction is, but there is another factor that controls the speed of the transaction and is the fee because the miners look at the transactions with the highest fees and they By confirming it first and leaving transactions with low fees to another time, which can cause what is known as pending transfers, which I spoke about in a previous post.

[Brushless4500KV 4214]

Your explanation was quite helpful to me. Based on what I read and what you said, the number of online miners will have a direct effect on transaction speed in each day. I think the number of online miners may vary each day. If there are more online miners on the network, the transaction speed will be faster on that particular day and vice versa. Even if you choose highest fees for your transaction, it will still depends on the number of miners who are active on the network. Correct me if I'm wrong. If this is the case, then in the year 2140, bitcoin transaction speed will increase greatly because miners will stop mining and only focus on transaction fees. This is what I think will happen to bitcoin network.

[Crypto123 0]

11 minutes ago, Brushless4500KV said:

Your explanation was quite helpful to me. Based on what I read and what you said, the number of online miners will have a direct effect on transaction speed in each day. I think the number of online miners may vary each day. If there are more online miners on the network, the transaction speed will be faster on that particular day and vice versa. Even if you choose highest fees for your transaction, it will still depends on the number of miners who are active on the network. Correct me if I'm wrong. If this is the case, then in the year 2140, bitcoin transaction speed will increase greatly because miners will stop mining and only focus on transaction fees. This is what I think will happen to bitcoin network.

Yes, my friend, your understanding is correct, when Bitcoin mining ends in the year 2140, there will be no more Bitcoin rewards and only network and transaction fees will remain, and these fees must be high so that miners are tempted to stay and transfer transactions and if the fees are few they will stop and collapse Bitcoin network, and this is a problem that has been discussed by some experts and they are trying to find a number of suitable solutions but it is very long until that problem occurs. One of the proposed solutions is to convert the Bitcoin network to a centralized network upon which a certain company depends and to impose the fees it deems appropriate, and this will not be in the interest of Bitcoin, of course.

[Fadzinator 285]

The number of computers connected in the network does not affect the confirmation speed.
Confirmation speed is set by the network. it is in its DNA. example in bitcoin it is 10mins, while ethereum is 10s.

Now next relevant question: if it is fixed(well actually estimate) set then how comes my transaction took 3hours to confirm?
the answer is the block size. as we know each block has size. lets say bitcoin has block size of 2mb,  now all transaction ordered by prioritization will be recorded in that 2mb size of block which will take 10mins for miners to record it. all transaction outside of the 2mb limits will be save queue on the next block (hopefully) - this is where your transaction fee matters, because you will be prioritized over small txn fee.

another question : should it be faster if there are more miners? eg. 10 miners can process a block in 1 minute.
the answer is no... there is this thing call difficulty which maintains the balance in the network.
more miners means high difficulty and less miners is less difficulty this will ensure that each block will be process according to its specified time ~ 10mins for BTC.

[nasipadang 399]

On 12/7/2019 at 8:29 PM, Brushless4500KV said:

As you know, the number of confirmations in bitcoin transactions have a direct effect on transaction speed. A transaction with 3 confirmations will be processed faster than the one with 6 confirmations. The process of confirmation is approved by any computer which is on the blockchain network. So, we have a network with a lot of computers and miners but not all of them are always online to confirm transactions.

What I want to know is that whether the number of online computers on the network can affect bitcoin transaction speed or not? Does bitcoin transaction speed increase if there are more online computers on the network? Does it mean that bitcoin transaction speed will improve in the future when the number of computers on blockchain network increase?

In principle, it is true that the number of networks at the miners and the number of transactions affects the speed of confirmation. While for the transaction speed it is the same, because from the beginning bitcoin can only do bytes per block, I forget how many bytes per block. If you expect more transactions that can be blocked then it is impossible or maybe there is something wrong with what I catch about your mean. 

[lcm 172]

Bitcoin has its own network, a lot of computers mining btc, the miners mining btc help btc keeps strong every day! the more miners the more hash power to the btc network!

[Migo 7946]

20 hours ago, Jonok said:

I think that through the blockchain the networking system of the computer will increase the respect of Bitcoin.  Because blockchain allows everyone to enjoy the benefits of using bitcoin on the computer.  And it will further expand the transaction.

Yes you are right, the blockchain network is the one who controls the speed of the transaction, so if you are talking about the user's computers than I think this is not related with the speed 

[Fadzinator 285]

3 hours ago, Goodcoin said:

Yes. The more the computers, the less the transaction to get stuck. I think. Correct t me if I am wrong.

Wrong, I already explained in my post.. Transaction getting stuck is limited by blocked size. not the number of computer. The more transactions means more space is needed. all that fits in a block will be confirmed. and those that will not fit will stay in mempool and hoping will be included in the next block - and they are sorted by prioritization which is determined by transaction fee. again confirming of a block aka mining a bitcoin is approximately 10mins.. doesn't matter if it is single computer or all whole worlds computer that will process.
still it is 10mins the reason it is fixed is the difficulty level. the more computer the higher difficulty. the less computer the lower the difficulty..

 

Speed of Mining

New BTC is mined almost every 10 minutes. One has to earn a part of the block reward by contributing a hashing power to the network. This can be done by solving a block difficulty. Currently, the block reward is set at 12.5 BTC. Thus, 10 minutes is an average timeframe set for miners to mine a single block.

[sdsonjoy50 886]

Yes, the speed of Bitcoin transactions on the online computer flows because the Bitcoin that we transfer is controlled by the online computer through the mining and we can transfer it to each other through the mining and therefore depends entirely on the speed of the online computer.  It is said that blockchain flows on the online computer

[Sourovdeb890 416]

23 hours ago, Yawar said:

Firstly, every day transactions probably won’t be made on-chain. They will use the lightning network for instant and cheap transactions. On-chain transactions only need to be made to open and close lightning channels.

If you have to do the punching to complete daily transactions, then you would think it would be best to use which one to complete the fastest transactions.

[Brushless4500KV 4214]

According to my research, bitcoin transaction speed can be affected by some factors. When blockchain network is busy and is running at peak hours, you will have a slower processing time. The situation gets worse when there are less miners on the network (less online computers) to confirm transactions. So, the speed of blockchain network is not always steady. Another negative factor is dusting attacks which send lots of small transactions with low fees on the network and slow down its processing power. This is something hackers use for later phishing E-mails. There are also other factors like block size and the amount of fees that can affect transaction speed but the above factors are more important.

[Beromnia 733]

Greetings, my friend
I don't think blockchain transactions are affected by the number of computers on the network
For information, the number of computers is decreasing dramatically on the net, because most people today use smart phones
Phones do not have the capabilities of computers

[lucky80 1046]

On 12/7/2019 at 8:29 PM, Brushless4500KV said:

Does it mean that bitcoin transaction speed will improve in the future when the number of computers on blockchain network increase?

It depends on the transaction amount. When the limit is reached then we will need more hash power to get faster confirmation.

[Jimmy 437]

I'm not really sure about the question what kind of computer? is normal user computer? If so i think not, It's not gonna affect anything and i think we can call Miners that mining bitcoin with some ASIC Miners that really affecting on confirmation speed in my opinion.

[lucky80 1046]

On 12/25/2019 at 4:07 AM, Jimmy said:

I'm not really sure about the question what kind of computer? is normal user computer? If so i think not, It's not gonna affect anything and i think we can call Miners that mining bitcoin with some ASIC Miners that really affecting on confirmation speed in my opinion.

Op said computer in general. Anything that mines on the bitcoin network are a computer. If no one is mining, a single laptop can mine the transaction without a problem, but the speed can become slower because of a bunch of transactions. 

[Rudro88 371]

Yes of course the online computer system influences the speed of Bitcoin transactions.  Because none of our online activities can be performed without an online computer.  Likewise, the way Bitcoin is given on the online computer system, the transaction is much faster.

[Crypto123 0]

On 1/22/2020 at 6:57 PM, jitu123321 said:

All the computer are just the node but not the speed influence the speed is fixed for bitcoin so when the transaction come to a miner it first take that transaction which pay higher fees and then the lower one hence it take time

It is true that the first factor in agitating on the speed of the transaction is fees, and the higher the fees, the more quickly the transaction is completed, but I think the number of computers on the network also has an impact. The higher the number of computers, the more miners will be and the transactions will be completed faster.

[Upright 2688]

Nope,I think the bitcoin was built on that limit of the transaction which it still has up to now, since most newer coins has faster speeds than bitcoin

[Brushless4500KV 4214]

On 1/22/2020 at 7:27 PM, jitu123321 said:

All the computer are just the node but not the speed influence the speed is fixed for bitcoin so when the transaction come to a miner it first take that transaction which pay higher fees and then the lower one hence it take time

The speed of blockchain network can speed up or slow down based on the status of traffic in any particular situation. I don't think it is a fixed rate because since the massive growth of bitcoin, the complaints about slow transaction or confirmation times has increased and big mining farms are struggling to confirm transactions by working at full potential. Those who pay more fees, will have faster processing time but here we are talking about transaction speed in general not the effect of higher or lower fees on the network.

[Opinder 1310]

I think everything depends on the blockchain system and not on computers or devices while transfering btc. But if you mine the bitcoin then if there is more computer then they solve the block fastly and your mining speed increases. But if you transfer the already mined btc then there is no relation with number of computers.

[Soaib khan 1035]

Yes I think affect on bitcoin transaction because if all computers online then transaction confirm fast and transaction speed depend on fees you paid.

[Yanadia 1517]

On 2/8/2020 at 6:24 PM, Brushless4500KV said:

The speed of blockchain network can speed up or slow down based on the status of traffic in any particular situation. I don't think it is a fixed rate because since the massive growth of bitcoin, the complaints about slow transaction or confirmation times has increased and big mining farms are struggling to confirm transactions by working at full potential. Those who pay more fees, will have faster processing time but here we are talking about transaction speed in general not the effect of higher or lower fees on the network.

In this case I agree with you however busy traffic will affect the speed performance on a network that is connected to each other and this is difficult to avoid.  That is why there are exchanges that provide alternative options for transaction speed and require costs because they require an additional system of transactions for speed through busy traffic.

[khan22 3478]

On 12/7/2019 at 6:29 PM, Brushless4500KV said:

As you know, the number of confirmations in bitcoin transactions have a direct effect on transaction speed. A transaction with 3 confirmations will be processed faster than the one with 6 confirmations. The process of confirmation is approved by any computer which is on the blockchain network. So, we have a network with a lot of computers and miners but not all of them are always online to confirm transactions.

What I want to know is that whether the number of online computers on the network can affect bitcoin transaction speed or not? Does bitcoin transaction speed increase if there are more online computers on the network? Does it mean that bitcoin transaction speed will improve in the future when the number of computers on blockchain network increase?

These are not computers these are systems and in these systems they install heavy rams and also heavy graphic cards to maintain the system at the transaction time becasue this is the time when the peoples will make transaction and in future it will take more time becasue the transaction limit is going to be high at the bull time.