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Blockchain Confirmation Meaning

A blockchain confirmation refers to the process by which a transaction is validated and permanently added to a blockchain. Each confirmation represents a block being added on top of the block containing the transaction, increasing the certainty that the transaction cannot be reversed. When a user submits a transaction, it first enters a pool of unconfirmed transactions, often called the mempool.

Miners or validators then select transactions from this pool to include in the next block. Once the block is added to the chain, the transaction receives its first confirmation.

Additional confirmations occur as new blocks are appended to the blockchain. In Proof-of-Work systems like Bitcoin, six confirmations are commonly considered sufficient to regard a transaction as final, as reversing it would require enormous computational effort.

In Proof-of-Stake networks, finality mechanisms can provide faster or deterministic confirmation guarantees. Confirmation times vary across blockchains.

Bitcoin produces a block roughly every 10 minutes, while Ethereum adds blocks every few seconds. Network congestion, transaction fees, and block size limits all influence confirmation speed.

Blockchain confirmations protect networks against threats such as double-spending and transaction reordering. Higher confirmation counts reduce risk but increase settlement time, creating trade-offs between speed and security that different blockchains balance in different ways.

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Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

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