Blockchain finality refers to the assurance that once a transaction is recorded on a blockchain, it cannot be reversed or altered. Different blockchain protocols offer varying degrees of finality, from probabilistic to absolute. This characteristic is paramount for trust and security within decentralized systems. It signifies the point at which a transaction is considered irreversible and permanently settled.
Context
The concept of blockchain finality is a key differentiator among various distributed ledger technologies, influencing their suitability for different applications. Protocols aiming for stronger, faster finality often prioritize transaction speed and security for high-value transfers. Debates often weigh the trade-offs between immediate finality and other design principles like decentralization or scalability.
The Stubborn Nakamoto protocol modifies Bitcoin's core rules to achieve provable economic security and permissionless design, decoupling finality from energy expenditure.
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