Transaction confirmation is the process by which a cryptocurrency transaction is verified and added to a blockchain ledger, becoming an immutable part of the network’s history. This involves validators or miners including the transaction in a block, which is then broadcast and accepted by other network participants. Multiple confirmations provide increasing assurance of the transaction’s finality. It is a fundamental aspect of blockchain operation.
Context
Transaction confirmation times and finality are critical performance metrics frequently discussed in cryptocurrency news, especially concerning network congestion or scalability. Faster confirmation times are a key goal for many Layer-1 competition blockchains. Delays in confirmation can impact user experience and the practical utility of digital assets for payments. This process underpins the trustless architecture of blockchain.
Introducing Accountable Liveness and the x-partially-synchronous model to formally identify and punish consensus-stalling nodes, strengthening BFT security.
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