After a transaction is broadcast to the Bitcoin network, it may be included in a block that is published to the network.
When that happens it is said that the transaction has been mined at a depth of 1 block.
With each subsequent block that is found, the number of blocks deep is increased by one.
To be secure against double spending, a transaction should not be considered as confirmed until it is a certain number of blocks deep.
More at: https://en.bitcoin.it/wiki/Confirmation
Also you can check this article: http://www.coindesk.com/information/how-do-bitcoin-transactions-work/
This is probably everything you need to know about confirmation.
This is definition from official bitcoin.org FAQ: https://bitcoin.org/en/vocabulary#confirmation
Topic: how will you define conform transaction...? (Read 545 times)
confirmation can be seen as the approvation of a new law, when a new law it is approved it passes through many policy areas, before it is actually approved
this is the same you need 6 block to make sure that the transaction is legit, so 1 hours as average
this is the same you need 6 block to make sure that the transaction is legit, so 1 hours as average
On an average you will get confirmations within hour. At times it may vary based on the fee provided and the blocksize.
confirmation can be seen as the approvation of a new law, when a new law it is approved it passes through many policy areas, before it is actually approved
this is the same you need 6 blocks to make sure that the transaction is legit, so 1 hours as average
this is the same you need 6 blocks to make sure that the transaction is legit, so 1 hours as average
Confirmations are simply blocks that have been generated after the block that contains your transaction.
Because there is no central authority that can be consulted to be sure a transaction will be committed, recipients use the number of confirmations as a way of protecting against double-spend attacks. Source - Give this one a good read, you'll understand. You should also check out the official bitcoin wiki if you have doubts like this.
Because there is no central authority that can be consulted to be sure a transaction will be committed, recipients use the number of confirmations as a way of protecting against double-spend attacks. Source - Give this one a good read, you'll understand. You should also check out the official bitcoin wiki if you have doubts like this.
i just want to know meaning or definition of conform transaction. if transaction is not confirmed so what is gonna happed.so why confirmation of transaction is required? tell me
thanks!
thanks!
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