When a transaction is sent over a blockchain network, it must be confirmed.
Once confirmed, it means that the network has approved the transaction and added it to the blockchain.
These confirmations are done by network validators, also known as miners.
To find out more about how mining works, read our Swyftx Learn article on How Does Bitcoin Mining Work?
Confirmation times change, as external factors can influence the transfer time associated with an asset due to network condition changes.
These factors include network maintenance, congestion or traffic, the mining/gas fee paid per transaction, and whether the transaction requires manual intervention or review.
If you would like to find out more about the mechanisms used to confirm transactions on the blockchain, read our Swyftx Learn article on Proof of Work vs Proof of Stake.