Confirmations
Confirmations refer to the process required to verify a cryptocurrency transaction by other users in the blockchain and increase the reliability of the transaction.
Confirmations refer to the process required to verify and ensure the reliability of cryptocurrency transactions on the blockchain. Once a transaction is added to the blockchain, it must be confirmed on the blockchain by miners to verify the authenticity of the transaction and secure the transaction. This confirmation process is accomplished by adding a transaction to blocks in the blockchain. With each new block added, the level of verification of the transaction in the blockchain increases, ensuring the reliability of the transaction. Cryptocurrency transactions usually require several confirmations, but this number may vary depending on the amount and reliability of the transaction. More confirmations indicate that the transaction is more secure, while fewer confirmations indicate that the transaction is faster. —
