Assume that for each miner, the probability of successfullysolving the hash-puzzle is p. Also assume that there are n miners in the system. Also,assume once a block has been mined, the new block reaches every node instantaneously(no network latency). So, all miners can start mining the next block simultaneously.Suppose Bob – the merchant wants to have a policy that orders placed to him willship within x minutes of the transaction of payment placed by the buyer to Bob. Whatvalue of x must Bob choose so that he can have 99% confidence that 6 blocks will befound in the next x minutes?
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