Block Time represents the amount of time it takes to verify and add a new block to a blockchain.
Another way to think about block time is that it’s the amount of time a miner takes to solve the complex hashing problems, which verifies all of the transactions in a given block and adds it to the blockchain.
Different blockchains have different block times configured.
bitcoin (BTC), for example, takes about 10 minutes, while Ethereum (ETH) takes roughly 14 seconds.
Consensus mechanisms, such as Proof-of-work (POW) or Proof-of-stake (POS), play a role in affecting how long it takes to verify transactions and create a new block.