Confirmation Time

Confirmation time is defined as the time elapsed between the moment a blockchain transaction is submitted to the network and the time it is at long last recorded into a confirmed block. As such, it addresses the total time a client needs to hold on until their transaction gets collected and confirmed by a miner node.
Contingent upon the type of blockchain and network architecture, this time can be diminished by offering a higher transaction fee, so miners will have an incentive to give a higher priority to your transaction.
Confirmation time can be utilized as a measurement to measure the average speed of a blockchain network. Notwithstanding, since the genuine time among submission and confirmation can differ due to individual factors and fluctuating demand, it is more reasonable to compute the effectiveness and speed of a blockchain by utilizing an averaged confirmation time as per its current state and the latest blocks.
After a transaction has been remembered for a block by a miner, the block should be approved by different nodes of the network. At the point when the block is confirmed to be legitimate, the transaction is considered to have a single confirmation, implying that each new block that is mined on top of that will address another confirmation.
As the latest blocks in a blockchain are not thought of as completely secure, it is frequently prescribed to sit tight for extra block confirmations before considering the transaction fruitful and irreversible. This is particularly true for the gatherings that are getting cryptocurrency payments, like vendors and online service suppliers.
The real number of confirmations before a transaction is viewed as conclusive changes and is straightforwardly dependent on the computational power (hash rate) gave to getting each blockchain network. For example, Bitcoin users generally consider at least 6 block confirmations to be profoundly secure, however different chains with less power behind them would require essentially more than that.