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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.
Related Terms
A bundle of transactions that gets permanently added to the blockchain.
How many transactions a blockchain can process per second.
The guarantee that a blockchain transaction can't be reversed or altered once confirmed.
Application Binary Interface.
A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.
The way Ethereum and many other chains track balances.
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