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Block Finality

Definition

‘Block Finality’ is the point at which a transaction recorded on a blockchain is considered irreversible and permanently confirmed. Once a block achieves finality, it cannot be altered or removed from the ledger, ensuring the integrity of the transaction history. Different blockchain protocols employ varying mechanisms to achieve finality, impacting the security and predictability of the network. Understanding block finality is vital for applications requiring absolute certainty in transaction settlement, such as financial exchanges and payment systems.