Finality guarantees refer to the assurance that once a transaction on a blockchain is recorded, it cannot be reversed or altered. Different consensus mechanisms offer varying degrees and speeds of this certainty. Strong finality is crucial for trust and irreversible settlement in financial applications. It ensures the integrity and immutability of recorded data.
Context
The concept of finality guarantees is a key discussion point in blockchain protocol development and adoption, particularly in enterprise and financial sectors. News often highlights advancements in achieving faster or stronger finality for improved transaction efficiency and security. Future innovations in consensus algorithms, such as those in proof-of-stake systems, aim to provide near-instant and cryptographically secure transaction finality.
This systematic review formally compares PoW and PoS security properties, revealing PoW's stronger guarantees and PoS's reliance on hybrid designs for comparable safety.
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