What is Confirmation?
Confirmation is the process by which a cryptocurrency transaction is verified and permanently recorded on the blockchain. Once a transaction is broadcast to the network, it must be confirmed by nodes (computers) in the network through a process of consensus, typically requiring the transaction to be included in a newly mined block. Each new block added after a transaction’s block increases its “confirmation count,” making it more secure.
In the Bitcoin network, for instance, one confirmation means that the transaction has been included in a block. Subsequent confirmations add layers of security, as each additional block verifies the integrity of the previous ones. Many exchanges or services require a certain number of confirmations (e.g., 3 to 6) before recognizing a transaction as fully verified and allowing it to be final.
Confirmation is a critical concept for cryptocurrency users, as it ensures that transactions are legitimate and irreversible. Unconfirmed transactions are considered pending, which means they are yet to be included in the blockchain and could still be declined if network conditions change or fees are insufficient.
