Okuzeka
Blockchain & Crypto vocabulary · Transactions & Fees

Confirmation

Meaning in blockchain & crypto, with examples

/ˌkɑːn.fərˈmeɪ.ʃən/nounCore term

In blockchain & crypto, confirmation means: Proof that a transaction has been included in a block. Each new block added after it counts as one more confirmation, and more confirmations make the transaction harder to reverse.

In Turkish: onay, blok onayı

How it is used

Exchanges and merchants decide how many confirmations they require before crediting a deposit. Users ask how many confirmations a transfer has, and wallets show statuses such as '2/12 confirmations'.

Example sentences

  1. Your deposit will be credited after three network confirmations.

  2. The transfer has only one confirmation so far, so the funds are not available yet.

Common collocations

  • network confirmations
  • wait for confirmations
  • required confirmations
  • number of confirmations
  • transactionAny action recorded on a blockchain, such as sending coins from one address to another or calling a smart contract. It must be signed with the sender's private key.
  • blockA batch of confirmed transactions that is added to a blockchain at one time. Each block contains the hash of the previous block, which links the blocks together into a chain.
  • mempoolThe waiting area where a node keeps valid transactions that have been broadcast but not yet included in a block. The name is short for memory pool.
  • block explorerA website that lets anyone search a blockchain and see blocks, transactions, addresses and smart contracts in readable form.
  • transaction hashA unique code that identifies one transaction on a blockchain. You can paste it into a block explorer to see the sender, receiver, amount, fee and status.

More terms: Transactions & Fees

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: