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Crypto terminology: "Confirmation"

traveljunkie (43)in #cryptocurrency • 8 years ago

Crypto Terminology (38).jpg

Confirmation

When a Bitcoin transaction takes place, the blockchain confirms the transaction’s validity. The confirmation is done by miners every 10 minutes when a block is mined. It is always advised that you wait for at least 6 confirmations to avoid double spending.

#bitcoin #block #terminology #confirmation
8 years ago in #cryptocurrency by traveljunkie (43)
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