Finality
Finality is the point at which a blockchain transaction is considered effectively or cryptographically irreversible under that network's consensus rules.
✦ Key Insight
Finality helps users and exchanges decide when a payment can safely be treated as complete.
✕ Common Misconceptions
A transaction showing one confirmation does not necessarily mean every service considers it final. Confirmation requirements vary.
Detailed Explanation
In Practice
Dig Deeper
Confirmation
A confirmation indicates that a transaction has been included in a block and has gained additional blockchain history after it.
Block
A block is a data structure that groups validated blockchain transactions or state changes and links them into the chain's history.
Transaction
A blockchain transaction is a signed or authorized instruction that changes blockchain state or transfers value when accepted by the network.
Consensus
Consensus is the process and rule set by which distributed blockchain participants agree on valid state and transaction history.