Transaction Confirmation Speed measures the time it takes for a submitted transaction on a blockchain to be irreversibly added to the distributed ledger. This includes the time for network propagation, inclusion in a block by a validator, and subsequent block confirmations that solidify its place in the chain. Faster confirmation speeds are essential for applications requiring quick finality, such as payment systems and high-frequency trading. It is a primary indicator of a blockchain’s practical utility.
Context
Transaction Confirmation Speed is a critical performance metric frequently highlighted in cryptocurrency news, especially when comparing different blockchain networks. Ongoing efforts to improve this speed involve advancements in consensus algorithms, layer-2 scaling solutions, and network infrastructure. Faster confirmation contributes significantly to user experience and the viability of blockchain for mainstream adoption.
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