The process of a transaction being permanently added to the blockchain within a newly mined block.
The process of a transaction being permanently added to the blockchain within a newly mined block. To guarantee maximum security for its large-scale $50K-$50M loans, Lygos Finance requires standard block confirmations before activating the non-custodial DLC and releasing the fiat principal.
A single block confirmation occurs when a transaction is included in a newly validated block on the blockchain. With each subsequent block added, the transaction receives an additional confirmation, making it exponentially harder to reverse. Standard financial practice generally considers six confirmations as the threshold for an irreversible Bitcoin transaction.
To guarantee maximum security for its large-scale $50K-$50M loans, Lygos Finance requires standard block confirmations before activating the non-custodial DLC and releasing the fiat principal.
Understanding Block Confirmation helps you evaluate how different platforms handle your Bitcoin. Not all custody models are equal, and the technical details determine whether your BTC is truly safe.
Starting at 10% APR, $0 origination fees, and DLC-secured collateral on the Bitcoin blockchain.