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What Does Block Confirmation Quantity Mean (Block Height and Number of Confirmations)

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What does block confirmation quantity mean? Block confirmation quantity is a ver

What Does Block Confirmation Quantity Mean (Block Height and Number of Confirmations)

What does block confirmation quantity mean? Block confirmation quantity is a very useful metric. When conducting a transaction in Bitcoin, this information can be added to the blockchain. This results in the generation of a lot of data for the entire network. However, since this data is calculated by miners, if a block wants to acquire a certain amount of computational power, it needs to provide a specific value to ensure that the transaction can be packaged and recorded. This will draw everyone’s attention, and we can use it to do other things.

Block Height and Number of Confirmations

According to Glassnode data, as of August 10th, the block height was 148888 (expected to be confirmed on September 16th at 6:00 AM Beijing time), and over 140,000 blocks have already been confirmed. In terms of the number of confirmations, the current number of unconfirmed transactions on the Bitcoin chain is around 42,000, while the number of unconfirmed transactions on the Ethereum chain is only 4,000, with 1,000 of them being completed by a single miner. (coindesk.com)

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