Another problem inherited from Bitcoin is that Ethereum is slow. It is many magnitudes slower than other platforms that host transaction data, for instance a traditional database. For example, it takes an average of 10 minutes to build a new record for Bitcoin. As a rule of thumb, after waiting for six new blocks to be built, a transaction is considered to be finalized (the same as a commitment in a database). This means that, on average, a requester will wait for one hour to see a request completed. In Ethereum, the average time for miners to build a block is 17 seconds and it is recommended you wait for 12 blocks before a transaction is confirmed. This is 12 * 17 = 204 seconds, or 3.4 minutes' waiting time for a user. Here, waiting for a few subsequent blocks to be built before confirming a transaction is useful. At any point, Ethereum can have competing chains. The waiting gives Ethereum sufficient time to work out the issue of having competing chains and reach a consensus...
Argentina
Australia
Austria
Belgium
Brazil
Bulgaria
Canada
Chile
Colombia
Cyprus
Czechia
Denmark
Ecuador
Egypt
Estonia
Finland
France
Germany
Great Britain
Greece
Hungary
India
Indonesia
Ireland
Italy
Japan
Latvia
Lithuania
Luxembourg
Malaysia
Malta
Mexico
Netherlands
New Zealand
Norway
Philippines
Poland
Portugal
Romania
Russia
Singapore
Slovakia
Slovenia
South Africa
South Korea
Spain
Sweden
Switzerland
Taiwan
Thailand
Turkey
Ukraine
United States