Hit confirmation refers to the process of verifying that a transaction has been accepted and recorded on the blockchain. When a transaction is initiated, it first enters a pool of unconfirmed transactions. Miners then validate these transactions through a series of checks.Once a transaction is included in a block and this block is added to the blockchain, it is considered confirmed. Confirmation usually involves multiple nodes verifying the data to prevent fraud and ensure integrity. The more confirmations a transaction has, the more secure it is against double-spending and other potential issues.In practice, a transaction typically requires a specific number of confirmations before it is considered final. For many cryptocurrencies, a confirmation occurs approximately every 10 minutes. However, some exchanges and wallets may require additional confirmations for higher-value transactions, ensuring greater security for users.
Russia Grants Banks Limited Approval to Handle Cryptocurrencies
Russian banks will be allowed to conduct cryptocurrency operations under strict conditions, the Central Bank announced Friday, marking a cautious