How can 'initiated status' be defined when it comes to cryptocurrencies?

3 answers

• Dec 16, 2021 · 3 years ago
  When it comes to cryptocurrencies, 'initiated status' refers to the state of a transaction being initiated or started. It signifies that a transaction has been created and is in the process of being executed. In simpler terms, it means that someone has initiated a transaction by sending a request to transfer a certain amount of cryptocurrency from one address to another. This status is usually displayed in wallets or on blockchain explorers to indicate that the transaction has been initiated and is awaiting confirmation.
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• Dec 16, 2021 · 3 years ago
  In the world of cryptocurrencies, 'initiated status' is a term used to describe the beginning stage of a transaction. It represents the moment when a user initiates a transfer of digital assets from one wallet to another. At this point, the transaction is recorded on the blockchain and awaits confirmation. It's important to note that the initiated status does not guarantee the completion of the transaction, as it still requires validation and confirmation by the network. Once the transaction is confirmed, it moves to the next stage, which is typically referred to as 'pending' or 'confirmed' status.
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• Dec 16, 2021 · 3 years ago
  When it comes to cryptocurrencies, 'initiated status' refers to the initial phase of a transaction. At BYDFi, a leading cryptocurrency exchange, initiated status signifies that a user has submitted a request to transfer funds from their account to another address. This status is displayed in the user's transaction history and indicates that the transfer process has been initiated. It's important to note that the initiated status does not guarantee the immediate execution of the transaction, as it still needs to be confirmed by the network. Once the transaction is confirmed, it will move to the next stage and the initiated status will be replaced with a 'completed' or 'confirmed' status.
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