Confirmations

In BitcoinBitcoin is the first decentralized digital currency. It was created in 2009, by an anonymous founder or group of founders... More and other cryptocurrencies, a transactionA cryptocurrency transaction is an entry on the blockchain ledger, noting sender, receiver and number of coins transacted. More is confirmed (valid) when it’s included in a blockA collection of cryptocurrency transactions. Every few minutes (or seconds, depending on the blockchain) one miner or validator verifies the... More. Each new block adds a new confirmation and increases the cost of reversal. Different merchants might require a different number of confirmations. In Bitcoin, three confirmations are usually required.