Block confirmation refers to the process of validating and securing a new block of transactions within a blockchain. When a block is created, it contains a list of transactions and other important data, including a reference to the previous block. This ensures continuity in the chain.
Once a block is added to the blockchain, it must be confirmed by the network participants, often referred to as nodes. Confirmation occurs when other nodes verify the block’s validity through consensus mechanisms, like proof of work or proof of stake.
The more confirmations a block receives, the more secure it becomes against alterations. Typically, users wait for multiple confirmations before considering a transaction final.
For example, Bitcoin transactions are considered secure after six confirmations, as this significantly reduces the risk of double spending or tampering. In summary, block confirmation is crucial for maintaining the integrity and security of a blockchain, allowing users to trust the system and the transactions processed within it.
Mantle Network, a renowned Ethereum Layer-2 scaling solution, has adopted Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The integration aims to boost
Michael Saylor, executive chairman of MicroStrategy and prominent Bitcoin advocate, has urged Microsoft’s board to consider adopting Bitcoin as part
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Touzi Capital LLC and its managing director, Eng