How Does Transaction Finality Work in a pBFT-based System?
In a pBFT system, transaction finality is achieved immediately or very quickly after a supermajority (typically two-thirds plus one) of the known, honest validators agree on the order and validity of a block. Once this consensus threshold is met, the transaction is finalized and cannot be reversed.
This contrasts with probabilistic finality in PoW/PoS, which requires multiple block confirmations. Immediate finality is essential for high-value financial transactions.
Glossar
Probabilistic Finality
Certainty ⎊ Probabilistic finality within cryptocurrency and derivatives represents a quantified assessment of settlement irreversibility, diverging from traditional absolute finality models.
Consensus Threshold
Calibration ⎊ A consensus threshold, within cryptocurrency and derivatives, represents the minimum agreement level among network participants required to validate a transaction or state change, functioning as a critical parameter in distributed ledger technology.
Immediate Finality
Assurance ⎊ Immediate finality refers to the property of a transaction being irreversibly confirmed and settled as soon as it is included in a block or processed by the network.
PBFT
Algorithm ⎊ PBFT, or Practical Byzantine Fault Tolerance, is a specific consensus algorithm designed to achieve rapid finality in asynchronous distributed systems, provided the number of malicious nodes remains below one-third of the total network.
Transaction Finality
Principle ⎊ Transaction finality is the principle that once a transaction is recorded on a blockchain, it cannot be reversed, altered, or canceled, providing absolute and irreversible settlement assurance.
Honest Validators
Integrity ⎊ Honest validators are network participants in Proof of Stake or similar consensus systems who faithfully follow the protocol rules, accurately validate transactions, and contribute to network security.