When a new blockGroups of data within a blockchain. On cryptocurrency blockchains, blocks are made up of transaction records as users buy or sell... Read More of information has been verified for addition onto the blockchainA blockchain is a distributed database that is shared among the nodes of a computer network. Read More, it has one confirmation. Each additional block added onto the blockchainA digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by... 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 confirmationBlock confirmation is a process for verifying and committing a block of transactions to the blockchain. Block confirmation occurs when... Read More is typically used by cryptoCrypto is a digital asset and medium of exchange employing cryptography to secure transactions, control the creation of new units,... Read More exchanges to consider a cryptocurrency transactionA cryptocurrency transaction is a digital exchange of value that uses cryptography to secure the transaction and control the creation... Read More final to protect themselves against bad actors who aim to reverse transactions after depositing (known as double-spending).
