What is a transaction confirmation?
Bitcoin transaction confirmation is the process of finalisation a transaction with an economically expensive attestation by the Mining network that the transaction is valid and does not conflict with any previously seen transactions.
One of the key functions of Bitcoin is that it solves the problem of double-spending by establish the order in which conflicting transactions have been publicly broadcast on the network, i.e. the risk that a digital currency token may be copied and spent more than once.
In spite of having no central authority to verify that its tokens are not being duplicated, bitcoin successfully avoids double-spending through a system of decentralized transaction confirmation, based on the consensus of a network of validators.
Bitcoin transaction confirmation time cannot be precisely predicted. However, once a transaction has been relayed around the network it has a high probability of being included in the next mined block if the including transaction fee is sufficient to satisfy most miners.
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