Before 10 confirmations is enforced by the network, do we really still need 10 confirmations?
I just want to ask a question I haven't seen asked.
Do we really need 10 confirmations or \~20 minutes to unlock funds anymore?
From what I gather, this is from one of the original implementations from 2014, and the lock time is based on making a key image set older enough for proper anonimity.
With all of the latest advances, along with a greater history of use and greater current use, do we really need 10 confirmations?
Why not drop it to 5 or even 4, if we are going to enforce it network wide, let the network have a lower rule, let wallets have a potentially higher default, and let the wallets have a setting for also changing it. There is potential to greatly improve the user experience of using Monero for wallets and exchanges/services (which obviously use a wallet behind the scenes).
Please provide empirical evidence for why we must stick to 10 confirmations, and further enforce specifically 10 network wide? I bet we could even drop the confirmation time lower than 2 minutes as well, given the health of the network.
Slightly lower lock time, slightly faster blocks. Everyone acts amazed that the network doesn't descend into chaos because there are so many other networks with faster blocks that didn't. The other networks can be good enough case studies to counter fear and uncertainty of theory.
We gather and conserve valuable thoughts extracted from various types of media. As soon as we feel like it, we present them here in condensed form. Quotes are neither an endorsement nor an objection t...