It doesn't require hours at the protocol level, it's just a social standard. Typically, the first confirmation would occur in ~10 minutes. At the moment, the convention is 6 blocks / 1 hour is sufficient to prevent double-spending, but any merchant could have its own standard.
Also, for something revocable like a domain name, there's nothing preventing Namecheap from giving you the domain name immediately, and then revoking your access to it later if the transaction ultimately fails.
> Also, for something revocable like a domain name, there's nothing preventing Namecheap from giving you the domain name immediately, and then revoking your access to it later if the transaction ultimately fails.
Not according to shiftpgdn:
> NameCheap actually doesn't have the capacity to revoke domains as they're an eNom reseller. Enom's policy is that once you buy a domain, it's yours. With domains sales being such a low margin business I can understand their level of caution.
Also, for something revocable like a domain name, there's nothing preventing Namecheap from giving you the domain name immediately, and then revoking your access to it later if the transaction ultimately fails.