What does Confirmation mean?

AC
Andrew Corbin 1 year ago - Created

Confirmation means that a transaction has been processed by the network and is highly unlikely to be reversed.

Transactions receive a confirmation when they are included in a block and for each subsequent block.

Even a single confirmation can be considered secure for low-value transactions, although, for larger amounts like $1000 USD, it makes sense to wait for 6 confirmations or more. Each confirmation exponentially decreases the risk of a reversed transaction.

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