Transaction confirmation: Pending

Modified on Wed, 21 Sep 2022 at 10:41 AM

On the Blockchain, confirming a transaction can take from seconds, to minutes, to many hours. This is because it is affected by factors such as the total network activity or congestion, hashrate, and transaction fees.

For example, the usual average confirmation time for a BTC transaction is about 10 minutes. However, if the Bitcoin network is congested, there may be a backlog of transactions in the Mempool awaiting verification. The same applies to any other network.

Mempool: transactions that have not yet been validated by a miner and added to the next block on the blockchain. A mempool is temporarily stored on each individual node in the network.

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