Workspace Deposit Type
What is Deposit Type?
Section titled “What is Deposit Type?”Network-based block confirmations are required for network approval in deposit transactions. Block confirmations are managed differently for each network. This confirmation ensures that the blocks processed on the network, namely deposit transactions, cannot be reversed. For example, in a network requiring 60 block confirmations, the deposit transaction will not attain “success” status until all 60 confirmations are completed. The deposit will remain suspended until all 60 block confirmations are completed. The deposit’s pending time varies based on the block confirmation time.
By selecting the deposit type, users can choose a workspace-based deposit pending time. For each network, the number of block confirmations considered safe will be selected, and for the fast deposit type, the block confirmation number will be one.
Workspace Deposit Types
Section titled “Workspace Deposit Types”There are two types of workspace deposits: Default and Fast.
Default Workspace Deposit Type
Refers to the number of block confirmations set by Paribu Custody for each network. Users cannot change this number. The deposit will not achieve “success” status until all block confirmations are completed. Once the required number of block confirmations is completed, the user can use the balance in their wallet.
Fast Workspace Deposit Type
The number of block confirmations determined for each network is one. Users cannot change this number. When the number of block confirmations in the deposit is one, the transaction achieves “success” status.
Deposit Type Selection
Section titled “Deposit Type Selection”During workspace creation, the user sends the workspace deposit type of their choosing to Paribu Custody in the workspace creation request form.
The deposit type selected for the workspace is shown on the Admin Settings → General Settings page.
Deposit Type Modification
Section titled “Deposit Type Modification”Admin quorum members can see the selected deposit type of the relevant workspace on the Deposit Type page under Admin Settings.
When admin quorum members wish to change the deposit type, they make a change request from the relevant page. This action requires admin quorum and owner approval.