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diff --git a/doc/paper/taler.tex b/doc/paper/taler.tex index 48e4a1c40..30f9934c3 100644 --- a/doc/paper/taler.tex +++ b/doc/paper/taler.tex @@ -1629,14 +1629,22 @@ Unfortunately it was not possible to experimentally compare the performance of Taler directly to other e-cash systems, since to our best knowledge there is no working and publicly available implementation of any of them. -When compared with the current average confirmation time for Bitcoin payments, -Taler is many orders of magnitude faster. While a confirmation time of Taler -is in the order of a few hundered milliseconds (including database access and -network latency), the time to mine even one block in Bitcoin is around ten +When compared with the current average confirmation time for Bitcoin +payments, Taler is many orders of magnitude faster. In a LAN, Taler +transactions taking about ten milliseconds are doable, given the speed +of modern SSD drives and RSA/EdDSA signature verification +algorithms.\footnote{We refer to \url{https://bench.cr.yp.to/} for + detailed benchmarks of cryptographic primitives.} In practice, a +few network round trips for the TCP/HTTPS handshakes and the HTTP +request dominate overall latency. While the confirmation time of +Taler is thus typically in the order of a few hundered milliseconds, +the time to mine even one block in Bitcoin is around ten minutes \footnote{Data retrieved in May 2017 from -\url{https://blockchain.info/stats}}. Very conservative Bitcoin merchants, -such as exchanges, wait up to six blocks until they consider a transaction -confirmed. + \url{https://blockchain.info/stats}}. Bitcoin merchants following +the Bitcoin specification must wait for six such blocks until they +consider a transaction confirmed. Thus latency for durable +transactions in Bitcoin is about three to four orders of magnitude +lower. \section{Discussion} |