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April 16, 2013, 12:05:32 AM |
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The first confirmation is your transaction being included in the blockchain. Block finding is random. The median time between blocks is seven minutes; half the blocks will take less than seven minutes, however some may take much more, such as the 15 minutes it took for a second block, or recent block 231531 which took 30 minutes.
Your transaction may not be included in the first block created after you send it, due to competition for block space. Including a higher than standard fee motivates miners to include your transaction in the blockchain before others.
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