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
Kimchi Premium
The kimchi premium is the price difference between South Korean exchanges and other global exchanges for bitcoin.
Decentralized Autonomous Organization (DAO)
Open source and decentralized systems that do not require centralized operators or controllers.
Wallet Address
The address in which cryptocurrency can be stored, sent to and receive.
Stale Block
Double mined blocks that are not included in the blockchain.
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