ZERO CONFIRMATION TRANSACTION

An alternative name or phrase, this simply refers to an “Unconfirmed” transaction. It is an exchange yet to be recorded and verified on the blockchain. In this context, the seller immediately assumes he had received money and that what had been sold had, in fact, been delivered.

As already discussed in the term, “Unconfirmed” Should a crypto trader’s transaction be labeled, Zero Confirmation Transaction, all that he or she has to do is wait for the transaction to be confirmed. If the blockchain proves to be overloaded, then the transaction will be confirmed within a day or two.

For a detailed discussion on the reasons why a transaction would fall under a “Zero Confirmation Transaction” or “Unconfirmed” label, see “UNCONFIRMED”.