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
Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Bitcoin Improvement Proposal (BIP)
Refers to improvement proposals for Bitcoin, used to introduce features or any updates on the Bitcoin network.
ERC-721
ERC-721 is one of the most widely used token standards in Ethereum to create non-fungible, exchangeable tokens.
Difficulty
A relative measure on how difficult it is to correctly guess a new block
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