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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.

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Related Terms

Central Ledger
Central data repository of a company or bank
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Circulating Supply
An approximation of the number of coins or tokens that are currently not locked and available for public transactions.
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