Block Confirmation
By CoinGecko | Updated on Mar 03, 2020
When a new block of information has been verified for addition onto the blockchain, it has one confirmation. Each additional blocks added onto the blockchain gives the referenced block another additional confirmation.
The further back a block is on the blockchain, the more costly it becomes to reverse it (through malicious means). Block confirmation is typically used by crypto exchanges to consider a cryptocurrency transaction final to protect themselves against bad actors who aim to reverse transactions after depositing (known as double spending).
Related Terms
zkOracle
A zkOracle is an advanced concept in blockchain technology that combines the properties of oracles with the principles of zero-knowledge proofs.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Soft Cap
Targeted fund raising limit of an ICO
Emission
The speed/rate at which new coins are minted and released as dictated by the protocols written.
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