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It says “Unconfirmed Transaction” in the Blockchain. What does that mean?

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Question
It says “Unconfirmed Transaction” in the Blockchain. What does that mean?

Answer

An unconfirmed transaction means that the transaction has not yet been included in a block and is thus uncompleted. Common reasons for unconfirmed transactions are:

  • You have just made the transfer. The Bitcoin network needs at least 10 minutes, on average, to include the transaction in a block;
  • The blockchain fee is too low or absent. The lower the blockchain fee, the lower your transaction's priority in the Bitcoin network. Therefore, the confirmation will take longer;
  • The Bitcoin network is overloaded. Due to its limited capacity, the network simply cannot process transactions fast enough, especially during high transaction periods.

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Views: 224 Created on: Apr 12, 2019
Date updated: Apr 12, 2019

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