What is confirmation?

What is confirmation?

The Saleer Team

Confirmation of transaction is a measure to prevent a repeated money transfer. Once the sender transfers the funds, the transaction enters the cryptocurrency network to be analyzed and to be included in the block.

This process of transaction's inclusion is exactly what the 'confirmation of transaction' is. One block includes one confirmation. Once your transaction receives confirmation, the coins become available for further use.

The speed of confirmation depends on many factors, such as the load of the cryptocurrency network itself, the amount of fee set in the transfer, the speed of the Internet connection, the technical condition of the resource where your wallet is located, etc.

Transactions that have not yet been processed and confirmed by the miners are stored in the memory of the nodes in the pool (mempool) - https://blockchain.info/en/charts/mempool-count.

You can't see the transaction in Blockchain, while it is stored in mempool

(https://blockchain.info, https://blockexplorer.com/).

Sometimes a transaction can be stored in a pool (mempool) from 6 and up to 48 hours. The average transaction confirmation lasts from 30 minutes to several hours, but sometimes takes up to 6 days if the Bitcoin / Ethereum / Litecoin / Dash / Monero network is overloaded.