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
Hashgraph
Hashgraph is a distributed ledger system that has been compared to the blockchain idea as a continuation or successor.
Automatic Replay Protection
Automatic Replay Protection refers to the upgrade implemented by Bitcoin Cash to stop the loss of funds from exchanges through replay attacks.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Address Delegation
Delegation of a wallet's stake to a Super Staker
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