Block Confirmation
By CoinGecko | Updated on Mar 03, 2020
When a new block of information has been verified for addition onto the blockchain, it has one confirmation. Each additional blocks added onto the blockchain gives the referenced block another additional confirmation.
The further back a block is on the blockchain, the more costly it becomes to reverse it (through malicious means). Block confirmation is typically used by crypto exchanges to consider a cryptocurrency transaction final to protect themselves against bad actors who aim to reverse transactions after depositing (known as double spending).
Related Terms
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
Bullish
A term used to indicate positive sentiment towards the market or an asset, where investors believe that there will be upward price movement.
Whitelist
List of approved participants that will be given access to a token sale (ICO, IEO, STO etc...)
Shilling
One who poses as a enthsiastic customer to swindle others as a form of covert advestising.
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