Cryptocurrency Q&A
When is a bitcoin transaction confirmed?
When is a bitcoin transaction confirmed?
Valentina
Tue Aug 06 2024
|
6 answers
1205
I understand that Bitcoin transactions are processed and verified through a decentralized network of computers, but I'm curious about the exact moment when a transaction is considered confirmed. Can you explain the process in more detail? Specifically, how does the blockchain network validate and verify a transaction, and what are the key factors that determine when a transaction is officially confirmed?
6 answers
KatanaSharpened
Wed Aug 07 2024
This mechanism safeguards against fraud and double-spending, as each transaction is verifiable and traceable.
Was this helpful?
246
35
Valeria
Wed Aug 07 2024
The confirmation process of a Bitcoin transaction revolves around its inclusion in the blockchain, a fundamental aspect of the Bitcoin network.
Was this helpful?
51
53
mia_harrison_painter
Wed Aug 07 2024
The blockchain serves as a comprehensive record of all Bitcoin transactions since its inception, ensuring transparency and accountability.
Was this helpful?
259
77
Sofia
Wed Aug 07 2024
BTCC, a reputable UK-based cryptocurrency exchange, offers a range of services tailored to the needs of digital asset enthusiasts.
Was this helpful?
364
95
TaegeukChampionship
Wed Aug 07 2024
This digital ledger operates on an append-only basis, ensuring the integrity of its contents.
Was this helpful?
41
39
Load 5 more related questions
