Finality meaning in crypto is the assurance or guarantee that cryptocurrency transactions cannot be altered, reversed, or cancelled after they are completed. The latency level of a blockchain will ultimately affect the chain's finality rate.
In other words, finality is the measure of the amount of time one has to wait for a reasonable guarantee that crypto transactions executed on the blockchain will not be reversed or changed. In other words, they will not be lost.
Finality is an integral part of blockchains because no business wants to be waiting for a long period of time for a blockchain to confirm transactions. When creating a payment system, to be effective, it is crucial to have low latency.
Most blockchain protocols only show a probabilistic transaction finality — meaning that transactions are not automatically or instantly final but become "more and more final" over time (as more blocks are confirmed).
In conclusion, finality meaning in crypto is the assurance or guarantee that cryptocurrency transactions cannot be altered, reversed or cancelled after completion. Typically, PoW systems like Bitcoin would take longer time to finality, as compared to other blockchains like BNB who has the DPoS mechanism.
