Transaction finality means that once a transaction happens you can’t delete it or get it back, its final! This leads to the trustless environment that blockchain creates because when you do a transaction you can do business with people you don’t know and they don’t have to trust you/know you and you don’t have to trust/know them. The bottom line once the transaction has happened, it’s happened there’s no going back.
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1. What do we mean when we say that blockchain has transaction finality/immutability?
Means that once a transaction is done, it’s done. It’s not reversible and it is saved forever on the blockchain.
2. How does this lead to the trustless environment that blockchain creates?
Due to the fact that you can make transactions with strangers and doesn’t need to fear any manipulation of the transaction or any charge backs.
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- it means that once the transaction has taken place there is no way of reversing it
- it helps prevent fraud and allows you to do business with anyone as it is verified through math, mining, proof of stake, proof of work, and there is a record of everything on the ledger
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- What do we mean when we say that blockchain has transaction finality/immutability?
Transactions cannot be reversed or removed from the blockchain - How does this lead to the trustless environment that blockchain creates?
People do not need to worry about transactions being altered after confirmation
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- When a transaction is done on the blockchain, it cannot be reverted. It is there on the blockchain forever
- Business can also be done with strangers as trust is not required. Once the money is charged, it cannot be taken back
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- What do we mean when we say that blockchain has transaction finality/immutability?
It means that once a transaction has been initiated, it cannot be reversed in any way.
- How does this lead to the trustless environment that blockchain creates?
There is no way for one party to scam another with the finality of the transactions in the blockchain. For example, the buyer of a product cannot make a chargeback to the seller of a product after the transaction has been completed.
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It means that once something is processed or recorded it cant be changed. There is no going back. There is no customer service representitive that can help you reverse your decision. But this is good it gives two parties that dont know each other the ability to transact without having to trust each other.
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This leads to a trustless environment because you dont have to trust anyone or anything other than the protocol.
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- What do we mean when we say that blockchain has transaction finality/immutability?
Transactions are not reversible. - How does this lead to the trustless environment that blockchain creates?
You always know the outcome when doing a transaction.
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- What do we mean when we say that blockchain has transaction finality/immutability?
A: Well finality means that all transactions are final after they are confirmed. The immutability plays on that as well because this means that these same transactions cannot be deleted or altered after they are confirmed.
- How does this lead to the trustless environment that blockchain creates?
A: Finality and immutability creates a trustless environment because transactions are final making it impossible for scams like chargebacks. Immunability also allows for transactions to never be deleted or altered. This makes it a trustless system, making it safer to do transactions with strangers. 
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- What do we mean when we say that blockchain has transaction finality/immutability?
No refunds, charge backs or payment insurance. Also if you move crypto and lose the key to your wallet you lose all of your crypto. Eg you have a head injury you are fucked. There is no acting custodian. You could use a third party or escrow but the goods need to come fast and what if your escrow company gets a bank run. They do not have the capital like any bank. In that event buyer and seller both lose out. Also all that crypto could be lost to the blockchain. It’s why nobody will use bitcoin to buy and sell everyday things anytime soon. But its good for transferring large amounts of equity securely and at little cost.
- How does this lead to the trustless environment that blockchain creates?
All trades are final and processed immediately as a gas fee is taken for digital transport of funds
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[quote=“ivan, post:1, topic:8424”]
- What do we mean when we say that blockchain has transaction finality/immutability?
It means that there is no way to reverse the transaction or change it, once its approved to blockchain it will remain there forever and we are not able to get refund for any reason.
- How does this lead to the trustless environment that blockchain creates?
In todays retail world some customers reverse (charge back) transactions they made to a particular business for obtaining their goods. This is basically a scam. With blockchain it is not possible.
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- Blockchain transactions are unchangeable and cannot be reversed.
- This helps create a Trustless environment by offering irreversible transactions and creating a public ledger of all activity. (However, enforced accountability is still needed in order to maintain network integrity.)
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What do we mean when we say that blockchain has transaction finality/immutability?
- It means that when a transaction is done in blockchain, there is no way to reverse it and it is already final.
How does this lead to the trustless environment that blockchain creates?
- Blockchain enables us to do transactions with strangers confidently because we do not have to trust these strangers. Everything will be done by the system or the network by simply verifying the transaction, and once the transaction is done businesses, retailers or sellers can be sure that they will be paid and not be scammed.
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When we say a blockchain transaction has finality/immutability we mean that it cannot be reversed. It is not possible to go back and edit or modify the transaction, it is set in stone and recorded forever.
This leads to a trustless environment because people no longer have to trust that the system of payment is final and won’t be reversed. For example, if an online merchant sells goods and a transaction is completed they can be confident in knowing that they have received payment and it can’t be reversed by a third party such as the customer’s bank.
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- Once the transaction is recorded in a block, it is not possible to reverse.
- Blockchain creates a trustless environment since all transaction is recorded and validated by the network; there is no possibility to cheat or reserve the transaction. Additionally, there is no third party can affect any transaction, it is purely based on mathematics and code; hence, no trust involvement in the procedure.
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- Once the transaction is made there is no way to change it or get money back. Blockchain database is noneditable.
- Transactions can be tracked and verified and once they appear in a chain you can’t change it. Don’t’ trust just verify!
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It means the Transaction stays there forever. Nobody can change it.
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We trust the math/physics from the network. You can to business with strangers and you do not have to trust them.
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Homework: Finality
It means that once a transaction has been added to the blockchain it can not be reversed. It is therefore immutable.
You trust the math and the protocol, because the transactions are publicly visible , immutable and final , this creates a trustless environment.
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What do we mean when we say that blockchain has transaction finality/immutability? Transactions are irreversible, you cant do charge back.
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How does this lead to the trustless environment that blockchain creates? You can do buisness with strangers and you cant be scammed, its verified mathematically by the network. impossible to reverse
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- What do we mean when we say that blockchain has transaction finality/immutability?
When we say that blockchain have finality or inmutability we refer to the fact that once the transaction is done, there is no way to reverse it, so its a inmutable action.
- How does this lead to the trustless environment that blockchain creates?
Because if I sent you money and you want to cheat and say that that never happened, I have proof that that transaction already happened because you can’t reverse it.
The same for me, if I want to cheat buying a product and send you some money and try to return it once I have the product, I can not because of the finality of the blockchain.
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