Block Confirmation

CoinGecko | 更新日: 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).

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Related Terms

Liquid Proof of Stake (LPoS)
A proof of stake consensus mechanism by Tezos that slightly differs from Delegated Proof of Stake.
Second-Layer Solutions
Secondary network or framework built atop an existing blockchain to address transaction speed and scalability issues.
Proof-of-Burn (PoB)
A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.
Software Development Kit (SDK)
It is a collection of software development tools in one package installation. It is designed to help developing applications for a specific device or operating system (OS).
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