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    Confirmation

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    Categories: Blockchain

    Validation by the blockchain network of a legitimate transaction. Miners confirm a transaction in a proof-of-work system, and once confirmed it can’t be reversed or double spent. Zero confirmation in a block means zero transaction – a fraudulent transaction can also be rejected by the network.

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    Justin Chan
    Dr Justin Chan founded datadriveninvestor.com, a tech application platform designed to help fund managers, individual investors and data scientists uncover outstanding sources of alpha from data. Previously, he specialized in strategy development in a number of hedge funds and served as a senior quantitative strategist at GMO. An expert in microstructure, market liquidity, and behavioral finance, Dr. Chan holds a doctoral degree from UCLA and served as a finance professor at Singapore Management University. He can be reached at justinchan@datadriveninvestor.com.