When you've made a bitcoin wallet account and you begin receiving or sending bitcoin then you will see every transaction requires "Confirm bitcoin", why do we need their "bitcoin confirmation of this"?
Procession transaction that requires the wait will be found in the status column with the words "wait bitcoin confirm" in the menu recent transactions. With the words "wait bitcoin confirm" or "waiting for confirmation of bitcoin" someone did have to wait until the process is completed with the status "complete". Then what is the meaning and reason of "waiting for confirmation" is? Here's his review.
Meaning of "Waiting for Confirmation Bitcoin"
bitcoin Blockchain comprised of bitcoin block and 1 block consists of several transactions, whenever there is a new transaction, then the transaction is entered into one block (see illustration)
Each time a new transaction occurs, then these new transactions entered into "Unconfirmed transaction pool" (a collection of unconfirmed transaction)
Then Miner (bitcoin miners) would validate this transaction one by one, and decide which one is valid and invalid
if the transaction is valid, then the valid transaction is entered into one new block
The new block is then added to the blockchain (journal) bitcoin. more and more confirmation of the more difficult to falsify the transaction
Here is an illustration 4 confirmation
more confirmation it is increasingly difficult to forge a deal
because a new block added to the above blocks other transactions
In more simple terms is an attempt confirmation bitcoin bitcoin network of networks to validate a transaction. In the absence of confirmation, there would be no evidence of the process has been done, so you can not say the transaction is valid.
If the transaction does not have a confirmation, it's very risky transactions duplicated by the attacker or the famous words "double spend" transactions that do not have a confirmation can be canceled or withdrawn by the bitcoin network
Bitcoin protocol itself is set so that each block will take about 10 -15 minutes. Some merchants require a minimum of 3 confirmation to validate payments from customers
