Transaction Confirmation Definition | IoT ONE Digital Transformation Advisors

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	Transaction Confirmation

Transaction Confirmation

Formal	Hashing a transaction and adding it to the particular Blockchain successfully. Usually, more than one confirmation is required for the transaction to go through to ensure the transaction is legitimate and not unsupported. Read More
Practical	Each transaction made on a Blockchain needs miners to add it to a block and confirm it. Usually more than one confirmation is required for the transaction to go through to ensure the transaction is legitimate and not unsupported (e.g. sending 2 Litecoins from a wallet that only contains 1 Litecoin). Read More
Contents

Formal

Hashing a transaction and adding it to the particular Blockchain successfully. Usually, more than one confirmation is required for the transaction to go through to ensure the transaction is legitimate and not unsupported.

Practical

Each transaction made on a Blockchain needs miners to add it to a block and confirm it. Usually more than one confirmation is required for the transaction to go through to ensure the transaction is legitimate and not unsupported (e.g. sending 2 Litecoins from a wallet that only contains 1 Litecoin).

Overview

Transaction Confirmation