1 - Transaction finality means that once a transaction has been accepted onto the blockchain, it is physically impossible for the transaction to be removed.
2 - This leads to a trustless environment as trust is not placed onto a biased third party but is instead placed onto the protocol, this allows for strangers to trustlessly transact with one another without worrying about any corruption.
1 Like
1.Once a transaction is performed it cannot be changed or revoked.
- Because transactions cannot be changed or charged back, you donāt need to trust the other party to pay. Once the blockchain is in your wallet, itās there to stay.
1 Like
- The transaction is final and cannot be reversed.
- Once the transaction has been confirmed onto the Blockchain, you know the recipient has received their funds and there is no option for someone to recall those funds.
1 Like
-
Blockchain transactions have finality meaning that a transaction cannot be cancelled or reversed once confirmed.
-
It is a trustless environment because it means you can do business with strangers without having to trust them. You cannot perform chargebacks
1 Like
1. Once the transaction is accepted in the blockchain, then it can not be reversed.
2. We believe in the blockchain protocol and we can mathematically verify if transaction is made.
1 Like
1- Finality/immutability means once a transaction is done, itās done and canāt be reversed
2- Finality leads to trustlessness because one can transact with strangers; you trust the network to validate the transaction and once thatās done, the other party doesnāt have the option to ask you to reverse the transaction and refund the coins
1 Like
- Transactions after being confirmed cannot be reversed.
- The code is all, it generate trust in its immutability, unlike human behavior.
1 Like
- transaction canāt be canseled after confirmation
- transactions canāt be returned/changed
1 Like
- Finality means the transaction on the blockchain can not be reversed or canceled.
- Because of trestles environment 2 parties can conduct transactions with having to worry about cancelation or reverse payments.
1 Like
-
It means that we can never reverse a transaction.
-
When transactions are non-reversible, it is not possible to do charge-back scams and the like, therefore trust is not necessary when completing transactions.
1 Like
- What do we mean when we say that blockchain has transaction finality/immutability?
- How does this lead to the trustless environment that blockchain creates?
-
It means that once we make a transaction on blockchain, it cannot be deleted or reversed. It is final. Once is done, it is done.
-
It leads to the trustless environment in a way that we do not need any kind of a third party like a bank or other institutions in order to help us with receiving or sending payment. Everything is transparent with exact math protocols. Do not trust, verify!
1 Like
-
once you complete a transaction on the block chain there is no way to revers it.
-
because all transactions can be verified mathematically and there is physically no way to reverse it.
1 Like
-
What do we mean when we say that blockchain has transaction finality/immutability? when we say that blockchain has transaction finality/immutability it means once something like a transaction is being made, and the network has come to a consensus that everything checks out, it is permanently written on all blocks and can never be changed.
-
How does this lead to the trustless environment that blockchain creates? because all the ledgers on the blockchain are all the same and can never be changed, no one ledger on the chain can be manipulated without having other ledgers validate the changes.
1 Like
- What do we mean when we say that blockchain has transaction finality/immutability?
All transactions are final! No Chargebacks!
- How does this lead to the trustless environment that blockchain creates?
You know that your transaction will not be reversed - there not having to worry about your money coming through.
1 Like
1: Finality in blockchain means that once a transaction has been confirmed, there is no way of reversing it and it will stay in the blockchain forever.
2: This removes trust because there sender is well aware that once the transaction has been confirmed it would be impossible to reverse.
1 Like
- It means once a transaction is made and confirmed by the miners it can be reverse.
- Because of the irreversible nature (finality) of the network, it can not be altered (immutability), thus make the blockchain completely trustless.
1 Like
-
Once a transaction is āout thereā and it is appended to the blockchain it is final and it cannot be revered.
-
Strangers cannot abuse the call-backs. You can do business with anyone - once they send the payment it is done.
1 Like
- What do we mean when we say that blockchain has transaction finality/immutability?
We mean that once a transaction has happened it is final and cannot be reversed. It is also immutable because the ledger is public and visible, so no one can say that it didnāt happen. - How does this lead to the trustless environment that blockchain creates?
There is no way that one party in a transaction can reverse payment and no third party that can be tricked. Once the block has been mined and the energy has been spent, it cannot be undone.
1 Like
- it means once a transaction is verified and added to the blockchain it stays there forever. Canāt be removed.
- You donāt have to trust your counter party in the transaction, the blockchain network provides the single source of truth.
1 Like
- What do we mean when we say that blockchain has transaction finality/immutability?
Blockchain transactions are immutable means once a transaction has happened, itās happened, it will not be rolled back. For instance in the case of BTC, once a transaction is written in a ledger, then itās done forever. - How does this lead to the trustless environment that blockchain creates?
Blockchain is built using mathematical protocols that are trustable. The irreversible and immutable nature of transactions leads to the trustless environment.
1 Like