Bitcoin Network Validation (Confirmations)
Bitcoin transactions require network validation before becoming fully usable.
Process:
- Transactions are broadcast to the Bitcoin network.
- Miners include transactions in blocks.
- Block inclusion constitutes a “confirmation.”
Purpose: Confirmations prevent double-spending.
Confirmation Levels:
- Each block inclusion = one confirmation.
- 6+ confirmations are generally considered final confirmation.
Godbex Requirement: our service mandates a minimum of 2 (two) Bitcoin network confirmations before processing exchange requests to ensure transaction legitimacy.