blockchain will not be rejected or altered. An endless waiting period on a blockchain network can have a significant negative impact on organizations that accept crypto as a form of payment. Thus, finality is a vital feature for them. </p>\n<p>I bet all of us have been in a situation where we had to wait at least 30 minutes standing in the line to be able to purchase something. It was very irritating and inconvenient, right? Thus, companies must always take into consideration the fact that the speed of crypto transactions is very important.</p>\n<p>Transactions completed in a blockchain have a natural finality. Because of that, they're usually referred to as <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-immutable/">immutable. Though most blockchain protocols display only a <strong>preliminary transaction finality.</strong> This means that transactions are not immediately final but their finality grows as more and more <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">
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href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market-capitalization-market-cap-mcap/">
market cap</strong></a>. It’s a derivative of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-flippening/">flippening which refers to a hypothetical future event where <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum overtakes <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin in regard to market cap. However, unlike flippening, flappening has already happened in late 2018. </p>\n<p>The term was first used in a tweet by Charlie Lee explaining that the flappening will happen before the flippening.</p>\n<p>Ever since the flappening, the term has been also used to describe any event where Litecoin surpasses another <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency. /nLitecoin community created the Flappening Watch in order to track the current development of flappening.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-circulating-supply/">Circulating supply</strong></a> and current market price are the main factors taken into account when determining the market cap of a specific cryptocurrency.</p>","level":"easy","meta_title":"What is Flappening? Definition & Meaning | Crypto Wiki","meta_description":"Flappening meaning: Flappening - an event in 2018 when Litecoin overtook Bitcoin Cash in market capitalization.","meta_keywords":null,"language":"en","created_at":"2022-05-18T11:26:28.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-flappening"},"prevSection":{"id":984,"original_id":null,"author_id":43,"translator_id":null,"title":"What is Fakeout?","slug":"what-is-fakeout","section":"F","keyword":"Fakeout","status":"published","definition":"a false signal indicating a price movement that goes in the opposite direction than the one predicted.","content":"<p><strong>Fakeout</strong> is a <strong>misleading signal</strong>. It’s commonly used by traders in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-technical-analysis-trend-analysis-ta/">technical analysis (TA)</strong></a>. In essence, a trading analyst experiences a fakeout when they <strong>enter a trading position with the assumption that the price will go in a specific direction, and it doesn’t</strong>. In most cases, the price moves in the opposite direction than the one predicted. </p>\n<p>Generally, those who apply technical analysis rely on price trends and patterns to establish the most favorable trading opportunities aligned with their trading strategy. Sometimes it may seem that everything is going according to plan, but unforeseen external factors muddle up the trading waters. In turn, <strong>fakeouts can be detrimental and lead to substantial losses</strong>. </p>\n<p>There are plenty of strategies developed to minimize the risk and impact of fakeouts. Firstly, traders must understand the risk management basics. It’s important to have a way out of an unfavorable market. This can be done by <strong>preparing an exit strategy</strong> in advance as well as to<strong> placing</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stop-loss-order/">stop-loss orders</strong></a>.</p>\n<p>It’s beneficial to <strong>rely on more than one <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-technical-indicators/">technical indicator</a></strong> before entering a trading position. A single signal shouldn’t be used as an indicator to trade since there are so many variables. When more than one signal points in the same direction, then it could be favorable. However, you should always keep in mind that no signal is a 100% guarantee that the trade will be successful. </p>\n<p>You can also keep the trading risk small by trading in small amounts. Most traders follow the unwritten rule of <strong>not investing over 1% of their capital in one trade</strong>. This ensures that, in case of a fakeout in a specific trading position, they will lose only that 1%.</p>\n<p>The term also has another meaning. Fakeout is sometimes <strong>used interchangeably with a false breakout</strong> which describes a short-term break in the price.</p>","level":"medium","meta_title":"What is Fakeout? Definition & Meaning | Crypto Wiki","meta_description":"Fakeout meaning: Fakeout - a false signal indicating a price movement that goes in the opposite direction than the one predicted.","meta_keywords":null,"language":"en","created_at":"2022-05-18T10:44:08.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-fakeout"},"currentChapter":"F","currentSection":"what-is-finality","chapterTitle":"F","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-finality","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter F
What is Finality?
Finality MEANING:
Finality -
an assurance that crypto transactions cannot be changed, reversed, or rejected once they are performed.
Let's find out Finality meaning, definition in crypto,
what is Finality,
and all other detailed facts.
Finality is used to determine how long one must wait for a reasonable assurance that cryptocurrency transactions conducted on the blockchain will not be rejected or altered. An endless waiting period on a blockchain network can have a significant negative impact on organizations that accept crypto as a form of payment. Thus, finality is a vital feature for them.
I bet all of us have been in a situation where we had to wait at least 30 minutes standing in the line to be able to purchase something. It was very irritating and inconvenient, right? Thus, companies must always take into consideration the fact that the speed of crypto transactions is very important.
Transactions completed in a blockchain have a natural finality. Because of that, they're usually referred to as immutable. Though most blockchain protocols display only a preliminary transaction finality. This means that transactions are not immediately final but their finality grows as more and more blocks are confirmed.
Therefore, the finality rate of a blockchain is affected by its latency level. This means that the finality rate is defined by the time it takes for a chain to confirm a transaction. Thus, it’s crucial to have minimal latency while designing a payment system in order for it to be effective.
