Homework on Finality - Questions

[itsharry]

1. Once a transaction has happened, there is no way to reverse it.
2. Every party can verify the transaction. You do not have to trust another party, only the math of blockchain.

[podricek]

1. What do we mean when we say that blockchain has transaction finality/immutability?
   Once a transaction happens, it happened. It cannot be reverted/refunded/altered. If you send money on accident - its final, no way to change it.

2. How does this lead to the trustless environment that blockchain creates?
   You can send money to anyone (f.e. a complete stranger) because you both trust in the network (of computers). But not because of trust, but because it can be verified (mathematically)

[Apex]

1. There is no way to change the transaction when it is confirm

2. You truss a protocol, blockchain instead of words of a perfect stranger

[Bedford]

1. Once a transaction is completed it can’t be reversed or canceled.

2. This trustless environment is created because you can do transactions with anyone, including strangers. No trust is needed as every network node verifies the transaction and cannot be reversed.

[Joao_Folhas]

1- when a transaction is approved there is no way to get it back
2- It reduces the scams that come after someone got a service or a good they can get the money back and the transaction can’t be duplicated. There for you trust the code

[Harry.Ellison]

1. Once transactions are made they are final and cannot be changed/reversed.

2. This leads to a trustless environment as everyone follows the same system for Blockchain through the laws and physics of its infrastructure. .

[naydogg]

1 it cant be reversed once confirmed
2 verification on the blockchain means no trust is necessary

[arshaduaf]

all the transction are recorded on blockchain

[sbipr]

1. What do we mean when we say that blockchain has transaction finality/immutability?
   Transactions on the blockchain are irreversible.

2. How does this lead to the trustless environment that blockchain creates?
   It means it is more difficult to scam people by reversing a payment.

[jahh]

1. It means once you do a transaction on the blockchain it is final and it is impossible to reverse
   
   2.This allows people to do business with strangers, because you can verify the transaction creating a trustless environment

[sccsammy]

1. What do we mean when we say that blockchain has transaction finality/immutability?

• It means once the transaction hits the ledger, it can never be reversed. It is there to stay.

2. How does this lead to the trustless environment that blockchain creates?

• Because we can verify the protocols and the math. We do not have to take the other person at thier word or intentions. It can be physically calculated.

[Leopold]

Here we gogogoggo again…
Homework on Finality - Questions

1. What do we mean when we say that blockchain has transaction finality/immutability?

not possible to revert transactions on blockchain, theoretically possible but need to convince all network

2. How does this lead to the trustless environment that blockchain creates?
   because of the fact that transaction is immutable, consensus, it means that you can transact with strangers around the globe.

See you guys next Homework

[KingOfCrypto]

1. What do we mean when we say that blockchain has transaction finality/immutability?
   It means that once a transaction/action has been made, it cannot be undone and the record of said action cannot be changed or erased. It is added to the ledger of that blockchain.

2. How does this lead to the trustless environment that blockchain creates?
   It creates an environment in which scamming and fraud is reduced within the technology itself, meaning you don’t have to trust a person because the math/algorithm/code is concrete.

[Xuko]

What do we mean when we say that blockchain has transaction finality/immutability?
When it is said that blockchain has transaction finality/immutability it means that once a transaction happens on the blockchain, it can not be reversed or changed.

How does this lead to the trustless environment that blockchain creates?
This leads to the trustless environment that blockchain creates because it is ensured that once a transaction happens, it is verified and can’t be changed.

[Larsen]

1.) Blockchain has transaction finality/immutability because no transaction can be reversed or changed.

2.) Trust is not involved, transactions can take place between strangers and verified mathematically.

[Mixas_3]

1. that’s what is done and confirmed that is done - no way back
2. it means that you can trust the system and nobody will force you or anybody else to take money from you if transaction was confirmed

[tayg]

1. Finality/immutability in blockchain means no take backs. Once a transaction happens, it is FINAL, nonrefundable.
   2.It prevents scammers from buying a product from you and calling their bank to get their money back.

[Korpelanvoima]

1. What do we mean when we say that blockchain has transaction finality/immutability?

• you cannot reverse or cancel the transactions when they are confirmed

2. How does this lead to the trustless environment that blockchain creates?

• there is no 3rd party to call/inform that the made transaction was “false”

[Bagems]

1.Transactions are final. No way to reverse.

2.Everyone trusts the system, it can be verified mathematically.

[janmam]

• 1. That every transaction on the blockchain is final. Can’t be deleted or edited.
• 2. It takes away the need for trust, because it is decentralised and therefore can’t be rolled back by anybody.