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Block Confirmation

    Block confirmation is a process for verifying and committing a block of transactions to the blockchain. Block confirmation occurs when a new block of information is added to the blockchain. Each subsequent block added to the blockchain adds another confirmation to the referenced block. Confirmations measures difficulty in reversing a transaction (through malicious means) −transactions with multiple confirmations have a higher degree of difficulty than transactions with a single confirmation. For example, cryptocurrency exchanges utilize block confirmation to determine when a transaction is final and protect against bad actors who aim to reverse transactions after depositing (commonly referred to as double spending).