Finality in blockchain refers to the unalterable confirmation of transactions or blocks of transactions. This concept is important for blockchain to be secure and authentic. Certainty in blockchain can be probabilistic, economic, instantaneous, unconditional, or related to the entire state of the blockchain.
Accuracy is a fundamental concept for the reliability and functionality of technology, providing the necessary assurance of transaction validity and permanence. Additionally, accuracy is also important in the context of smart contracts and decentralized applications (DApps).
Issues that prevent blockchain transactions from reaching finality include forking, network latency, smart contract vulnerabilities, and 51% attacks. Therefore, developers need to implement strong consensus algorithms and effective network protocols.
Longer confirmation times, multiple verifications, and advanced security algorithms such as Algorand's Pure PoS, DPoS, and HoneyBadgerBFT can be used to increase accuracy. To achieve faster and more reliable precision in the future, a multidisciplinary strategy that includes various consensus techniques, sharp encryption, and advanced interaction needs to be implemented. How important do you think the concept of finality in blockchain is for the reliability of digital assets? We are waiting your comments.
