I'm new to Counterparty. How long does it take for transactions to process? I have sent funds to an address, its been 24 hours and still no feria? What gives?
A normal send transaction should just take a single confirmation so 10
minutes on average but sometimes an hour or more. You can check
blockscan.com to see full Counterparty details for the transaction.
Blockchain.info or btc.blockr.io would also be useful if you wanted to
just see if it’s been confirmed on the Bitcoin network.
(This is a cross post)
I've just added the ability (Blockscan.com) to view pending zero confirmation sends, orders, cancels and issuances (dimmed) when looking at the address transaction page
To test this out either do a test transaction or pull up one of the source/destination addresses at http://blockscan.com/pending. And then lookup the address transactions at the search box
This is definitely work in progress though and might need some fine tuning.
@mtbitcoin The straight posting of the json is a good first step and with a little time it can be read. I’m sure you’ll put it in a more familiar form but even now it’s quite useful just to see new orders there before they get confirmed. Nice thing about Counterparty is that fees are such that the vast majority of those transactions, hopefully, will be confirmed in the next block. This screen will help test that theory as well.
How will that work in high volume trading?
Latency appears to be a problem.
High volume can exist with 1 transaction per day and in that case latency wouldn’t matter.
What is the economic value of high frequency of transactions?
- To me this latency is a feature rather than a problem. The DEx slower, but it has several important advantages that traditional exchanges do not have…
- Various mechanisms can be introduced to make things move faster. I think multisig wallets could be used to store BTC that would be used to cover any losses from failed settlements, but that’s what centralized exchanges do, so at this moment I don’t see why anyone would want to pay for that when they can get the same type of service from centralized exchanges.
- People who want to day-trade can use any of the traditional exchanges. People who want the both can have one wallet at Counterwallet (self-hosted, if they want) and another account at their favorite centralized exchange.