Bitcoin Confirmations

Several things happen before an operation is included in the system when transacting on the Bitcoin network.  Unconfirmed transactions first accumulate in a pool known as mempool. Then, miners choose a transaction at random (but most prefer those with high fees) and add it to a transaction block. They then verify the transaction by solving complex mathematical problems, i.e., Proof of Work.  Next, the network confirms the block and adds it to the blockchain. Blocks added to the blockchain amount…