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Author: Admin | 2025-04-28
Averages about 10 minutes, while Ethereum only takes around 12 seconds.1The exact amount of time it takes for block generation on the Bitcoin proof-of-work blockchain is governed by the difficulty level, which changes with network traffic and the number of miners on the network to keep block times at 10 minutes.Ethereum uses proof-of-stake, which is much faster because there is no competition for a reward—participants with staked ether are randomly selected to validate the transactions and receive network fees.Block Time vs. Confirmation TimeSometimes confused with each other, block times and confirmation times are two different measurements on a blockchain. Confirmation time is the amount of time it takes a blockchain to confirm a transaction.It's often thought that a transaction needs six confirmations before it goes through; however, this is a misunderstanding. When a transaction makes it into a block, and the block is closed, the transaction has one confirmation and concludes. The number six comes from the belief that a transaction that was confirmed six times (included in six closed blocks) is secure from any network attacks.A block may be opened every 10 minutes on the Bitcoin blockchain, but not all transactions that occur within that period can be sent to the current block to be mined and confirmed. Confirmation can take up to several hours on the Bitcoin blockchain because transactions are sent to a mempool, where they are queued in order of the amount of fees paid.Users who want their transactions placed in front of others pay more than the average, while those who pay average or below-average fees must wait their turn to be sent to a block, verified, and confirmed at least once.How Many Bitcoins Will Ever Be Created?Bitcoin has a limit of 21 million. There are over 19 million Bitcoins in circulation, and the number of Bitcoins created yearly halves every four years.2 This slows down Bitcoin creation over time.How Many Ethereum Will Ever Be Created?Ethereum, unlike Bitcoin, doesn't have an upper limit on the number of coins that will be created.3How Do I Get a Bitcoin Block?You never actually receive a Bitcoin block since it is part of Bitcoin's framework. Instead, you receive a reward of bitcoin when your miner solves the hash and creates another block.The Bottom LineBlocks are one of the structures used in a blockchain that store information. The time it takes to open a new block on a chain is that chain's block time. Block times differ from confirmation times, which can take several hours or days to complete.The comments, opinions, and analyses expressed on Investopedia are for informational purposes online. Read our warranty and liability disclaimer for more info.Compete Risk Free with $100,000 in Virtual CashPut your trading skills to the test with our FREE Stock Simulator. Compete with thousands of Investopedia traders and trade your way to the top! Submit trades in a virtual environment before you start risking your own money. Practice trading strategies so that when you're ready to enter the real market, you've had the
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