From signing to settlement.
WHAT A TRANSACTION CONTAINS
The sender The recipient The amount or instruction A fee A signature
WHAT THE SIGNATURE PROVES
That whoever holds the private key authorised it.
WHAT IT DOES NOT PROVE
Who that person is.
WHAT HAPPENS AFTER SIGNING
The transaction is broadcast to the network Nodes validate it against the rules It waits in a pool of pending transactions A block producer includes it in a block The block is added and propagated
WHAT DETERMINES INCLUSION SPEED
The fee offered, relative to others competing for space.
WHY COMPETITION EXISTS
Block space is limited, and demand varies.
WHAT CONFIRMATIONS ARE
Blocks added after the one containing your transaction.
WHY THEY MATTER
Each additional block makes reversal exponentially harder.
WHAT FINALITY MEANS
The point at which reversal is considered impossible.
HOW IT DIFFERS BETWEEN NETWORKS
Some provide probabilistic finality, strengthening over time; others provide definite finality after a defined process.
WHAT TO UNDERSTAND
A transaction is irreversible once settled.
WHAT THAT MEANS PRACTICALLY
Sending to the wrong address loses the funds permanently.
