What is the process for confirming a cryptocurrency transaction?
Deepak subediDec 26, 2021 · 3 years ago3 answers
Can you explain the step-by-step process for confirming a cryptocurrency transaction?
3 answers
- Dec 26, 2021 · 3 years agoSure! When you initiate a cryptocurrency transaction, it gets broadcasted to the network. Miners then pick up your transaction and include it in a block. The block is then added to the blockchain, which is a public ledger. Once the block is added, the transaction is considered confirmed. This process usually takes a few minutes, but it can vary depending on the cryptocurrency and network congestion.
- Dec 26, 2021 · 3 years agoConfirming a cryptocurrency transaction involves several steps. First, your transaction needs to be broadcasted to the network. Then, miners verify the transaction and include it in a block. Once the block is added to the blockchain, the transaction is considered confirmed. This process ensures the security and immutability of the transaction history.
- Dec 26, 2021 · 3 years agoWhen it comes to confirming a cryptocurrency transaction, the process can be quite straightforward. After initiating the transaction, it is broadcasted to the network, where miners validate and include it in a block. Once the block is added to the blockchain, the transaction is confirmed. This process ensures the integrity and transparency of cryptocurrency transactions.
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