If I transfer Guldens to someone, how long will this transaction take?

Practically seen it is instant. But to be sure the transaction cannot be reversed a number of “confirmations” need to take place on the network. On average the transactions are confirmed within 3 minutes. Confirmations¬† are acknowledgments that your transaction have been seen by other users in the network. To be sure you can wait 1 or 2 confirmations to be sure that the transaction is irreversible.

With the upcoming developments it will no longer be needed to wait for the so called confirmations. The Gulden protocol will be adjusted in such a way that you will need “zero confirmations”.

Remark: Brokers and exchanges want to wait for many confirmations (Bittrex 20) before the Gulden are displayed on their sites.

This post is also available in: Dutch

Related Articles