Custom Block Confirmations Notification: Balancing Security and Efficiency

In blockchain transactions, security and efficiency are paramount concerns for customers. How can operational efficiency be improved without compromising asset safety? Safeheron offers the Custom Block Confirmations Notification feature, empowering customers to flexibly balance transaction security and efficiency.

Block Confirmation

In blockchain, a confirmation refers to the process where a transaction is verified by the network and included in a block by miners. The number of confirmations indicates how many blocks have validated the transaction. As new blocks are generated, the number of block confirmations increases, reducing the likelihood of rollbacks or tampering, thus, enhancing transaction security.

The required number of block confirmations varies across blockchains due to consensus mechanism, network operational status, and block time.

Safeheron Block Confirmation

Based on factors such as token algorithms, network status, and transaction efficiency requirements, Safeheron provides default block confirmations. Deposit and withdrawal are considered fully confirmed only after reaching the default number.

Additionally, Safeheron uses webhook to push transaction status change notifications, allowing users to track transaction progress in real time.

Custom Block Confirmation Notification

Higher block confirmations can enhance transaction security but also extend confirmation times, affecting the user experience. To address this, Safeheron offers a Custom Block Confirmation Notification feature. Customers can customize the number of block confirmations based on their business needs, but the custom value must not exceed the default confirmations.

When a transaction reaches the custom block confirmations, Safeheron pushes a notification via webhook, allowing customers to handle their business processes flexibly.

➡️ Find out how to customize block confirmations notification.

Use Cases

For Exchanges

Block confirmations influence the timing of accounting and crediting in exchanges. Exchanges can choose reliable networks with longer confirmation times and customize block confirmations for notifications based on user profiles and deposit amounts. For example:

For small or low-risk transactions: Exchanges can use custom block confirmations notifications to process pre-accounting earlier, improving fund turnover efficiency. Finalize the transaction after reaching the default block confirmations.

For large or high-risk transactions: Exchanges continue to use the default block confirmations to ensure fund security before allowing any fund operations.

For Payment Service Providers (PSPs)

delays. PSPs can set custom block confirmation notifications based on transaction amounts. For example:

For small or low-risk payments: As merchants require high immediacy, PSPs can pre-process transactions using custom block confirmations notifications.

For large payments: With transaction security prioritized, PSPs use default block confirmations to determine transaction completion and avoid potential risks.

Safeheron now supports customizing block confirmations notifications in the Web Console. For details, please log in to the Web Console and navigate to "Management -> API -> Block Confirmations Notification".