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Transaction Confirmation

links: DSS TOC - Decentralization - Index

Transaction Confirmation

The higher the number of confirmations of a transaction the more likely the transaction will be permanently written to the chain. The number of confirmation is the number of blocks on top of the block which contains the transaction. If a transaction is in a mined block #100 and the network has mined 3 more blocks then my transaction has 4 confirmations. Block #100 counts as one confirmation as soon as it's mined, published and accepted by the network.

There is a rule of thumb which says that you should wait 6 confirmations until a transaction can be considered final.

links: DSS TOC - Decentralization - Index