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
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
All-Time-Low (ATL)
The lowest point (in price, in market capitalization) that a cryptocurrency has been in history.
Margin Trading
It is a way of investing by borrowing money from a broker (or in crypto, an exchange or platform) to trade
Emission
The speed/rate at which new coins are minted and released as dictated by the protocols written.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.