Confirmation Time

The amount of time it takes block producers on a blockchain network to process one block’s worth of transactions is known as confirmation time. The coding of the majority of blockchains will include a goal confirmation time. A block of transactions should be produced by miners on average every ten minutes, for instance, since Bitcoin’s target confirmation time is ten minutes.

The confirmation time, which refers to how soon cash may be accessed or transferred by users, is a feature of the underlying network that is sometimes confused in practice with a feature of services developed on top of networks. While a portion of the confirmation time for such transactions depends on how rapidly blocks are generated, it also depends on assumptions about the conditions under which the operation may be regarded as adequately secure. Blocks are not confirmed by being permanently added to a blockchain; instead, they are confirmed because there is a reasonable likelihood that a block won’t be left behind. As a result, service confirmation times will be more strongly influenced by prevailing conventions. For instance, the Bitcoin community views block six deep as adequately secure because they will likely be permanently included on the chain.

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