Hello it isn't 3 second block confirmation times the last reversible block takes about 40 seconds to update because of the 2/3 of 21 witnesses validation of blocks system
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Hello it isn't 3 second block confirmation times the last reversible block takes about 40 seconds to update because of the 2/3 of 21 witnesses validation of blocks system
You are correct about the 40 second last reversible block time. The block confirmation time is not the same as irreversibility though. Each time a new block is confirmed counts as a 'confirmation' but one confirmation does not equal an irreversible transaction.
With BTC transactions for example, people typically say to wait at least three confirmations before trusting a transaction (sometimes more).
With STEEM, it is best to wait for at least 16 confirmations, since that is the point it reaches the irreversible block.