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The single unit of an independent cryptocurrency that is used to exchange value much like the word dollar is used in the United States to describe a single unit of currency. Often the terms “coin” and “token” are viewed as synonyms. However, there is a difference: a coin refers to a single unit of a cryptocurrency such as Bitcoin which functions to transfer value using its mainnet whereas a token is a programmable application created on top of a cryptocurrency's mainnet. Ethereum's mainnet allows for the creation of tokens using its ERC-20 standard.


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The specified number of blocks added following the publishing of a particular transaction onto a network's blockchain. The threshold or number of blocks deep for a transaction to be considered confirmed may depend on the transaction medium (such as an exchange). Typically Bitcoin transactions need to be six blocks deep for confirmation.


Confirmation Time

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The average amount of time required to add one block to the blockchain. Confirmation time depends on mining difficulty which is regulated by the complexity of the hash algorithm and the number of miners.