teachermorpheus on Nostr: Why the numer of confirmations matter? because a confirmation means that a miner ...

Why the numer of confirmations matter? because a confirmation means that a miner worked a lot to calculate the right hash for the newly created block. when other block is added on top of the previous one, the same type of effort is needed. also, the previous block header hash is part of the data that is used to calculate the new block that is being mined. this means that if someone tries to change that previous block in a new branch of the blockchain, it will assign a different hash for it, thus making the need to mine all the subsequent blocks that are on top of it.

so the more confirmations a transaction has, the more energy the attacker will have to spend to make the change really propagate on the blockchain. 6 confirmations or more means that is impossible to change it. only God could do it.

#confirmations #transaction #mining #bitcoin #question

comment below to aggregate more info or correct any mistake I made.