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

[Syedbesharat 5423]

I think this effect the transaction of BTC because the more computer works the fast transaction goes on network.

[fatima123 320]

Very complicated process of blockchain technology I never able to understand how blockchain technology is works in crypto market because some blockchain is very fast some little slow. 

[Man 741]

1 hour ago, yupi84goro said:

In my opinion a lot of computers online on the blockchain network do not affect the bitcoin transaction speed. Because that affects blockchain network that is used and also miners who mine bitcoin. So from that bitcoin needs lightning network to speed up the transaction.

useful explanation. Therefore we often need high transaction costs, so that when there is a dense transaction. the higher the transaction costs, the faster it will be.

[khan22 3478]

On 12/8/2019 at 3:56 PM, Crypto123 said:

 

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.

Bitcoin transaction take so much tie just becasue of the movement of the market if the BTC price is fastly going to up side than the transaction is stop and still when the market is not going to stable at the same position and than send the payment.

[Syedbesharat 5423]

1 hour ago, Alex122 said:

I don't think the number of computers active in the market affects the time needed for your transactions to be confirmed. It all depends if your transaction is recorded in the next block or not. There is a block mined every 10 times. 

The usage of BTC is increase so on timing of transaction is also increase.They solve the transaction timing by creating Lighting Nod So they can less the burden of network .

[Ssking93 51]

Bitcoin dug them too. So lightning network is needed to speed up the transactions from Bitcoin. In my opinion, many online computers on the blockchain network do not affect the speed of Bitcoin transactions. Because it affects the blockchain network that is used

[Investors Blog 385]

8 minutes ago, Cryptojubayer said:

I think it affects the transaction sppe for Bitcoin because of the number of active computers in blockchain.If the network is more busy then the transection speed gets slower.

It doesnt work that way, The more people use bitcoin to send and receive money online then bitcoin blockchain will have a hard time confirming every transaction, most miners are confirming those transaction with higher fees while low fee transaction are left on the bottom.

[Goody28 259]

The online computers on the blockchain network can't possibly affect the bitcoins transactions speed bitcoins transactions speed knows no boundaries

[aymandr 206]

The battle for a scalable solution is the blockchain’s moon race. Bitcoin processes 4.6 transactions per second. Visa does around 1,700 transactions per second on average (based on a calculation derived from the official claim of over 150 million transactions per day). The potential for adoption is there but is bottlenecked currently by scalability

[Agios 1763]

I think online computers on the blockchain network can affect bitcoin transaction speed, because to confirm and record transaction data in a block is a complex process and requires the availability of powerful and many equipment. The computing process takes place on the side of users who are connected with Bitcoin.

[Balimovic 7]

I don't think number of computers have nothing to do with speed of transaction of cryptocurrency

[kadayakito 765]

I think it is influential, but maybe it is only a part. because of the large number of exploits will affect the speed of transaction confirmation.

[khan22 3478]

On 12/8/2019 at 3:56 PM, Crypto123 said:

 

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.

When the transaction is stop in the blockchain than you must to know that the market movement is going to fast and when the movement is fast on that time blockchain is stopped the sending of the BTC and when the price is stable than the transaction is completed.

[Investors Blog 385]

9 hours ago, Sadia75 said:

Increasing the fee by using the transaction will increase the speed so if you have to print to complete the daily transaction, if I am not mistaken, the transaction speed is the blockchain network itself

It will not increase the speed since it will be the same 10 minutes blocktime, Paying higher fees meaning your transaction will surely be included on the next block that been found so more likely your transaction will receive 1 confirmation after 10 minutes or so.

[khan22 3478]

On 2/13/2020 at 12:32 PM, Alex122 said:

I don't think the number of computers active in the market affects the time needed for your transactions to be confirmed. It all depends if your transaction is recorded in the next block or not. There is a block mined every 10 times. 

This will so much effective in which we will see that the market is going to be high than on that time the transaction is stooped and when the market is stable on that time it will move the transactions in the market but the computers will help them so much.

[Shaza Ahmad 1682]

I suspect that the speed of transactions confirmation with the Bitcoin network is related to the extent of the network's busyness, the more the network is occupied with more transfers, the new transfer orders need a longer time and that naturally affects the network speed, but I suspect that Bitcoin will be developed to speed up transactions and I have heard about adding a feature called Lightning network.

[babaji 1228]

I am not an expert on this topic, but as per my understanding, and I stand corrected, miners validate the transactions, and the number of computers associated with a blockchain connected to the internet, may only get a copy of the validated blockchain, and hence I dont believe the number of computers has any effect on the speed of bitcoin transactions. 

[BTC Future 3946]

One confirmation means that your transaction is included in a new block that has been produced. The second confirmation would be the next block that will be tied to the first one, if that block is validated by the rest of the network (at least 51% of the mining hashpower). So it goes up to 6 confirmations (6 blocks continuously) in order for your transaction to be considered securely executed. Each block has an average time of 10 minutes. So 6 confimations mean 60 minutes. There are exchanges and merchants that accept less than 6 confirmations. A few accept even 1 confirmation, which is not actually secure.

 

There are times though when on average it might take longer than 10 minutes. This can happen if the mining power suddenly reduces. For this there is a function called difficulty adjustement, that reduces the difficulty of the HASH-256 cryptographic calculations needed to mine one block. Although this feature of the Bitcoin's code is auto-adjusting difficulty, once every two weeks. So in 2017 we've witnessed the Bitcoin.com miners switching to Bitcoin Cash and creating a huge gap for Bitcoin. The hash power was simply not enough with the difficulty being too high and we've seen millions of unconfirmed transactions flooding the mempool. This was corrected days later after the difficulty adjustment, which lowered the calculations needed.

Edited March 2, 2020 by BTC Future

[jamesvince 2389]

Network speed always matter for the quick confirmation of the transactions because if some exchanges need more confirmations then it is clear that transactions need more times.

[Honny143 13612]

I think yes because every day so many computers mines bitcoins, and every second so many bitcoins transaction made, do definitely its effects to reduces bitcoin transaction speed,but I think when we entire in 2140 bitcoin mining stop, then we see bitcoin transaction speed increase and block chain technology not crushed.

[magd 5231]

Through a topic I had previously read about the speed of Bitcoin transactions, I see that your words will be correct later, the number of networks and computers connected to them will increase and the process will become easier and faster.

[NevermindNe 549]

Yes, I think this affects the speed, the more computers process transactions in the blockchain network, the faster transactions will be made.

[IamLeader12 682]

No, the speed of a bitcoin transaction depends on the commission you have allocated and the speed of the blockchain algorithm (and it has never changed)

[ComeBackIsrael 185]

I think not, the speed of transaction processing depends only on the miners and your fee that you donate to them. The higher your fee, the more likely it is that your transaction will be processed faster. 

[BitcryptoHan 2557]

The number of computers? You can not use it like that. You should say the number of nodes. The more the nodes the less the reward but can not affect the transactions fee unless people that are using the cryptocurrency is increasing. As for the speed, it can mot be affected, it is always 10 minutes for the fastest speed. 

Edited April 15, 2020 by BitcryptoHan