An analysis of confirmation times across 46 cryptocurrency exchanges

Last year, The Block published a piece that analyzed the confirmation times across 18 cryptocurrency exchanges. In this piece, we expanded our sample set to 46 exchanges across nine of the largest proof-of-work-based cryptocurrencies. We examine confirmations through three frames: blocks, minutes, and dollar value.

As we’ve covered in our previous piece, cryptocurrency exchanges are prime targets for hackers as they provide a profitable platform for attempted double-spend attacks. While double-spends can be carried out on smaller merchants, exchanges are where a large portion of the value in cryptocurrencies flow. Most recently, exchanges were subject to an attack via the Bitcoin Gold blockchain.