What is the average time for network confirmations in the Ethereum network?

3 answers

• Espinoza GeorgeOct 27, 2023 · 2 years ago
  The average time for network confirmations in the Ethereum network can vary depending on network congestion and gas fees. On average, it takes around 15-30 seconds for a transaction to receive its first confirmation. However, it is important to note that the number of confirmations required for a transaction to be considered fully confirmed can vary. Some exchanges and services may require a higher number of confirmations, such as 12 confirmations, before considering a transaction as fully confirmed. It is always recommended to check with the specific exchange or service for their confirmation requirements.
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• DetyckwsOct 19, 2020 · 5 years ago
  In the Ethereum network, the average time for network confirmations can be influenced by various factors. These factors include the gas price set by the sender, network congestion, and the number of miners actively confirming transactions. Generally, it takes a few minutes for a transaction to receive multiple confirmations and be considered secure. However, for larger transactions or during periods of high network activity, it may take longer for confirmations to occur. It is advisable to monitor the network status and adjust gas fees accordingly to ensure timely confirmations.
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• McProMay 23, 2022 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, the average time for network confirmations in the Ethereum network is approximately 15-30 seconds. However, it is important to note that this can vary depending on network congestion and gas fees. Different exchanges and services may have different confirmation requirements, so it is always recommended to check with the specific platform for their confirmation policies. Additionally, it is worth mentioning that the number of confirmations required for a transaction to be considered fully confirmed can also vary. Some platforms may require a higher number of confirmations, such as 12 confirmations, for added security.
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