Confirmation refers to the process in which the transaction is included in the block and added to the blockchain. When a transaction is broadcasted to the blockchain network, it is presented to be packed in a block by the miners. Once the transaction is included in a block, the transaction will have 1 confirmation. Besides, the number of confirmations for a transaction represents the number of blocks that contain this transaction. In general, the more confirmations it gets, the more irreversible the transaction will be.
Articles in this section
- What is Blockchain?
- What are Bitcoin and Stablecoin?
- What are Coin and Token?
- What is Address?
- What is Transaction ID ?
- What is Confirmation?
- What is Multi-protocol USDT?
- What is a Label Coin (Memo/Tag/Payment ID)?
- What is a Smart Contract? What is the use?
- What is Maker & Taker?