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
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
Derivatives Market
A market for derivatives which are instruments such as futures or options whose value is derived from an underlying asset.
Tangle
The name for IOTA's Directed acylic graph (DAG) based transaction settlement layer.
Stale Block
Double mined blocks that are not included in the blockchain.
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