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This is a bitcoin transaction as shown in a blockchain explorer. What does ‘2 confirmations’ mean here? Sorry for the picture quality. Which one is the best answer?

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  1. 2 confirmations by miners are required for this transaction to be accepted by the network
  2. 2 other blockchain nodes have confirmed this transaction
  3. The transaction is included in one block (of the blockchain) whose hash is included in the previous block
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2 confirmations means the transaction was included in a valid block and that block was continued by another valid block.

Option 3, although it should be next block (older than the one that contains the transaction) instead of previous block.

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  • Thanks. So answer is 3 ? – caketestico Jul 1 at 16:41
  • yes, are you doing a bitcoin test? – Pedro Jul 1 at 16:44
  • Just learning stuff – caketestico Jul 1 at 16:44
  • So, someone sent 26.99 bitcoin to another person ? – caketestico Jul 1 at 16:47
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    Probably they sent 1 BTC to someone and ~26 BTC (minus transaction fee) back to themselves (what is called a change output). The fee of a bitcoin transaction is given by sum of input values minus sum of output values – Pedro Jul 1 at 16:55

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