Confirmation is the term used to describe the acknowledgment of a valid transaction by a network node/miner.

     Whenever a transaction happens on a blockchain it must go through the consensus process of verification as to whether or not it is a valid transaction. Once a that transaction is validated, it is put into a block and added into the ledger. This is called confirmation. Every blockchain has its own parameters regarding how many confirmations a transaction must receive in order to be processed. On the Bitcoin blockchain 6 confirmations must take place for a transaction to be considered finalized. The amount of time it takes to confirm a transaction also depends on the network fees paid to broadcast the transaction, higher fee quicker confirmation and vice-versa.

      Related Terms:



BTC: bc1qcskmel9llhrdqj3arxyqnennx4ashvfutlreyy
LTC: ltc1qa0fj4lcu5365rep50aza5fqqvx8ef0afemh6s5
ETH: 0x071D72dbc48ad2Fe35daE256eCF0834C5dde688c
DASH: XgXHqVyJiQNdVVszH9cnqCP4uWcP8tVxdK
BNB: bnb1mau4j8kry0jgw45ufy69hvhd0k04llet8fk2p6

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