Accounting and Reporting
Several blockchains like, for instance,
bitcoin and bitcoin like blockchains are using miners for their consensus mechanism. These networks suffer, more and more, longer
delays for transaction confirmation. In the case of Bitcoin, it may take several minutes, sometimes days
when transaction fees are too low for miners to consider the transaction as a priority. Miners order transactions
mainly on the basis of the fees attached to each transaction. These transactions are placed into a queue with bigger fees
at first and lower fees further to the end. At the moment of writing these lines, 24 700 transactions are waiting to be
included into the blockchain, some since several days. So, the blockchain event module checks when transactions are accepted and included into
the blockchain and when this is the case, send an event to the ledger, which, in turn, mark the transaction as validated.
Reports can be outputed from the ledger to display if transactions are validated or not.
When a transaction is validated, it is then incorporated into a cryptocurrency ledger. If not, the payment is not yet received.
The interblockchain event monitor will emit an event notifying the ledger when a transaction is finally included into the blockchain network.
The ledger and the transaction log, through its reporting capacities, when funds are really paid.