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When you first start using Bitcoin, you might come across the term “confirmations.” This concept is fundamental to how Bitcoin transactions work, ensuring their security and immutability.
This article explores what confirmations are, and how many confirmations for bitcoin transactions are necessary. Let’s break it down in simple terms.
A confirmation for a transaction occurs when a it is included in a block, and added to the blockchain.
The blockchain is a public ledger where all Bitcoin transactions are recorded. When you make a Bitcoin transaction, it is broadcast to the network and waits to be included in a block by miners.
Miners are participants in the network…
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