Confirmations are the number of times a transaction has been verified by the network. The more confirmations a transaction has, the more secure it is. Transactions with fewer than five confirmations are considered unconfirmed and are not secure.
Other related questions:
Q: What does 1 confirmation mean on blockchain?
A: Confirmation on the blockchain refers to the process of a transaction being verified and added to the blockchain. This usually takes 10 minutes, but can occasionally take longer depending on network congestion.
Q: How long does 6 blockchain confirmations take?
A: It can take up to six confirmations for a blockchain transaction to be fully processed. This means that it could take up to an hour for a transaction to be fully processed.
Q: How many confirmations does it take on blockchain?
A: It depends on the cryptocurrency. For Bitcoin, it takes six confirmations.
Q: How long do 4 confirmations take on Bitcoin?
A: 4 confirmations on Bitcoin can take up to an hour.
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