Zero Confirmation Transaction
By CoinGecko | Updated on Mar 03, 2020
A cryptographic transaction via the blockchain is only considered "confirmed" when it is included in a block, which is after miners have verified, hashed and recorded the transaction (aka mined the transaction). Once a transaction has been mined, it becomes increasingly difficult to maliciously reverse the by way of hacking as more blocks gets mined subsequently.
A zero-conformation-trasaction carries the risk of it being overwitten and invalid until it has been mined, and should never be considered as final when performing a transactional trade.
Related Terms
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
UTC Time
"Universal Time Coordinated", can be used interchangably with Greenwich Mean Time (GMT).
Masternodes
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined.
Buy the F***in Dip (BTFD)
An encouraging rally by asset/cryptocurrency supporters to buy during a price decline
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