Altcoin confirmations and safety - wait ~6 confirmations, or ~1 hour? The general consensus in the Bitcoin network is to wait for 6 confirmations or 1 hour on a transaction before it can be considered completely irreversible. However, when it comes to altcoins that use different block generation rate, some people go with ~6 confirmations, while others use ~1 hour worth of blocks as the standard confirmation model.

I am wondering if there is any consensus on which approach is more proper? Assuming the altcoin network in question is under no threat of a 51% attack, should companies under a risk of theft attempts (say, exchanges) wait for about 6 confirmations regardless of the block generation rate, about 1 hour worth of confirmations also disregarding the generation rate, or for the higher of 6 of 1 hour worth of confirmations if blocks are generated slower than 1 block per 10 minutes?
See https://bitcoil.co.il/Doublespend.pdf. What matters is the number of blocks, not time elapsed or average time for this many blocks.

Also, the idea of "wait for 6 confirmations or 1 hour" in Bitcoin is a myth. If 1 hour passes with 3 confirmations you're less secure than if 30 minutes passed with 3 confirmations, because the attacker would have had more time to build his competing branch.