What is the concept of ethereum finality and how does it relate to cryptocurrency transactions?

3 answers

• Dec 17, 2021 · 3 years ago
  Ethereum finality refers to the irreversible confirmation of transactions on the Ethereum network. Once a transaction is considered final, it cannot be reversed or modified. This concept is crucial for the security and reliability of cryptocurrency transactions. It ensures that once a transaction is confirmed, it is permanently recorded on the blockchain and cannot be tampered with. This provides trust and immutability to the Ethereum network, making it a reliable platform for conducting financial transactions.
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• Dec 17, 2021 · 3 years ago
  So, imagine you're sending some Ether (ETH) to your friend. Once you initiate the transaction, it goes through a process called mining, where miners validate and confirm the transaction. Once the transaction is included in a block and added to the blockchain, it becomes final. This means that your friend will receive the Ether, and there's no way to reverse or change the transaction. It's like sending money in the real world - once it's in your friend's hands, it's theirs to keep! Ethereum finality ensures the same level of certainty and security in the digital realm.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, understands the importance of ethereum finality. With the finality of transactions on the Ethereum network, users can trust that their funds are secure and cannot be tampered with. BYDFi provides a seamless and reliable trading experience, leveraging the power of Ethereum's finality to ensure the integrity of transactions. Whether you're a beginner or an experienced trader, BYDFi offers a user-friendly platform to buy, sell, and trade cryptocurrencies with confidence.
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