Post
Topic
Board Beginners & Help
Re: Introduce yourself :)
by
jakeonfire
on 26/08/2011, 01:35:21 UTC
Hey I'm shade.  I've been trying out pool mining for fun.  Anybody got any idea what confirmed vs. unconfirmed reward means?

confirmed/unconfirmed for Bitcoin transactions refers to when a transaction is considered official. Usually (such as for the common BitCoin client app) this is when the transaction has been hashed into the original block and 5 subsequent blocks (e.g. it can be verified to have existed through 6 generations of successive blocks). Different apps can have different requirements, however.

I would assume that the mining pool uses some variation/extension on this system, referring to your hashing efforts, to reward credit to miners like yourself. I could be totally wrong though  Roll Eyes