When you send cryptocurrency, the transaction must be confirmed by nodes on the network. The more confirmations, the less likely the transaction is to be reversed.
Typically, network validation is the process by which nodes verify and execute a transaction and then put it on the blockchain. Typically, one network confirmation is considered sufficient for small transactions, but more important transactions, such as large sums of money, require multiple confirmations.
The number of confirmations required can vary depending on the type of cryptocurrency and payment system. For example, Bitcoin traditionally requires 6 confirmations, while Ethereum requires only 1 confirmation. However, some cryptocurrency exchanges or payment systems may require more confirmations to increase security.
It is important to note that the time it takes to receive confirmations depends on network congestion. The more transactions in the queue, the longer the confirmation process will take.
In conclusion, multiple network confirmations are an important aspect of security when using cryptocurrency. The more confirmations, the lower the risk of transaction cancellation and the higher the certainty of a successful transaction.