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blockchain

Block Time

The average time it takes to produce a new block on a blockchain.

Definition

The average time it takes to produce a new block on a blockchain. Bitcoin's block time is about 10 minutes, Ethereum's is roughly 12 seconds, and Solana targets 400 milliseconds. Faster block times mean quicker transaction confirmations but can lead to more chain reorganizations.

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Related Terms

Block

A bundle of transactions that gets permanently added to the blockchain.

TPS (Transactions Per Second)

How many transactions a blockchain can process per second.

Finality

The guarantee that a blockchain transaction can't be reversed or altered once confirmed.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

Account Model

The way Ethereum and many other chains track balances.

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