Zero Confirmation Transaction
By CoinGecko | Updated on Mar 03, 2020
A cryptographic transaction via the blockchain is only considered "confirmed" when it is included in a block, which is after miners have verified, hashed and recorded the transaction (aka mined the transaction). Once a transaction has been mined, it becomes increasingly difficult to maliciously reverse the by way of hacking as more blocks gets mined subsequently.
A zero-conformation-trasaction carries the risk of it being overwitten and invalid until it has been mined, and should never be considered as final when performing a transactional trade.
Related Terms
Difficulty
A relative measure on how difficult it is to correctly guess a new block
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
Exchange Traded Fund (ETF)
An exchange-traded fund (ETF) is a form of security that tracks a collection of securites such as stocks, bonds, index or cryptocurrency but tradeable like a single stock.
Oracles
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts.
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