FINALITY

As already made apparent through its infinitive form, “finality” is simply the assurance that transactions with the context of cryptocurrency industry can no longer be modified, reversed or cancelled after completion. A blockchain’s level of latency will eventually impact the finality rate of the blockchain.

As this is the case, the term “finality” is used to measure the duration of time needed to get a reasonable guarantee that the executed digital currency transactions on the chain will not be reversed, let alone altered. Simply put, these data will not be lost. 

Finality is seen as a feature pertinent to accepting cryptocurrencies. Should this be absent, transactions will only result in waiting on a blockchain for extended periods of time, which can have an adverse effect for businesses and enterprises that accept crypto as payment.

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