What is a cryptocurrency transaction blockchain confirmation?

A confirmation represents the acceptance of a new block (containing several transactions) by the blockchain network. A transaction with many confirmations means more blocks have passed since the block containing that transaction was accepted, meaning the transaction is more secure.

Confirmations are a fundamental aspect of how blockchain and cryptocurrencies operate. They ensure that transactions are recorded properly on the ledger, maintain the security of the network, and help prevent fraud. When sending or receiving cryptocurrencies, it’s important to remember that transactions aren’t considered finalized until there are multiple confirmations.