Confirmation requirements for depositing SFT on coindeal

#1

Does anyone know, why coindeal requires 500 confirmations when depositing SFT? Seems a bit excessive to me.


I’m not complaining or anything, just curious.

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#2

I don’t know whether there was an official statement but I would suggest it is for safety reasons to prevent double spending attacks. The hashrate of the SAFEX PoW network is still rather low so there are many confirmation blocks needed to prevent such and be on the safe side. With an increasing hashrate I would expect the required number of blocks to go down.

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#3

Thank you!
I think you’re right. I’ve not dabbled into mining much, so I haven’t even thought about looking at network hashrate😔 Just wanted to experiment a bit with coindeal and was surprised that deposit will take more than 12 hours.
It’s alright though, better be safe than sorry.

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