<p>I can address some of your questions:</p>
<p><strong>Throughput</strong> shows how many transactions per second the blockchain is processing. Right now, Bitcoin processes 2.98 tx/s with a peak at 10.92 tx/s.</p>
<p><strong>Finality</strong> refers to the point at which a transaction becomes immutable in the blockchain’s ledger, making it irreversible. While Time to Finality represents the duration required for a transaction to achieve finality within a blockchain network. TTF for Bitcoin is 1 hour.</p>
<p>Also, there is a metric called <strong>Block Time</strong>. It's the average amount of time it takes for a new block to be added to a blockchain. Right now, Bitcoin block time is 7m 1s.</p>
<p>We track all these three metrics at <a href="https://chainspect.app/" rel="nofollow noreferrer">chainspect.app</a>. So you can easily verify the exact numbers and dig into our in-depth explanations of <a href="https://chainspect.app/blog/transactions-per-second-tps" rel="nofollow noreferrer">Throughput (TPS)</a>, <a href="https://chainspect.app/blog/time-to-finality-ttf" rel="nofollow noreferrer">Time to Finality (TTF)</a>, and <a href="https://chainspect.app/blog/block-time" rel="nofollow noreferrer">Block Time</a>.</p>
<p>I hope my explanation answers some of your questions :)</p>

CC BY-SA 4.0
2024-01-26T07:37:58.087Z
2024-01-26T07:38:59.400Z
2024-01-26T07:38:59.400Z
Nick Grechino
<p>I think some of these terms (e.g. latency) might be used in multiple different Bitcoin settings and hence have different meanings but I can give you my understanding of how each term is typically used.</p>
<p><strong>Waiting Time</strong> - The time it takes for a transaction that you broadcast to be included in a block (with a single confirmation).</p>
<p><strong>Throughput</strong> - The number of transactions a blockchain can process per second. In Bitcoin's case I think it is approximately 7 transactions per second with blocks mined on average every 10 minutes.</p>
<p><strong>Finality</strong> - When a transaction is considered final i.e. it is highly, highly unlikely for a blockchain re-org that would impact that transaction's inclusion in the blockchain. Typically we consider a transaction final when a transaction has 6 confirmations: it was included in a block and 5 other blocks have since been mined on top of that block.</p>
<p><strong>Latency</strong> - The time it takes for a transaction to reach a specified destination (perhaps the entire network, a specific miner or all miners).</p>
<p><strong>Confirmation Time</strong> - Used interchangeably with <strong>Waiting Time</strong>. The time it takes for a transaction to be confirmed (and included in a block) from the point you broadcast it out to the network.</p>

CC BY-SA 4.0
2022-07-24T13:13:55.023Z
2022-07-24T13:13:55.023Z
Michael Folkson
<p>I am confused with the below terms. <strong>Could someone explain them in simple terms and confirm that my rationale below is correct?</strong></p>
<p><strong>Waiting Time - Throughput - Finality - Latency - Confirmation Time</strong></p>
<p>I have created the following graph.</p>
<p><a href="https://i.sstatic.net/hQwfT.jpg" rel="nofollow noreferrer"><img src="https://i.sstatic.net/hQwfT.jpg" alt="enter image description here" /></a></p>
<p>I guess when a node propagates a transaction until this is included in a block, this is called <strong>waiting time</strong> (the period A below). The number of transactions that are included in a block is called <strong>throughput</strong>. <strong>Finality</strong> is defined as the period (the period B below) since the tx was included in the Block X0 until the Block X6 was created (i.e., 6 confirmations). <strong>Latency</strong> <strong>(or confirmation time)</strong>, is called the period from when the node propagated the transaction until the Block X6 was created (the period C below : A + B).</p>
<p><strong>Could someone confirm if this is the real meaning of the terms waiting time, throughput, finality, latency, and confirmation time?</strong></p>

<confirmations><terminology><transaction-propagation><latency>
How throughput, latency, finality, waiting time are defined?
Nikolas
# How throughput, latency, finality, waiting time are defined?

(Asked by: username_0 on 2022-07-24)

I am confused with the below terms. **Could someone explain them in simple terms and confirm that my rationale below is correct?**

**Waiting Time - Throughput - Finality - Latency - Confirmation Time**

I have created the following graph.

[![enter image description here](https://i.sstatic.net/hQwfT.jpg)](https://i.sstatic.net/hQwfT.jpg)

I guess when a node propagates a transaction until this is included in a block, this is called **waiting time** (the period A below). The number of transactions that are included in a block is called **throughput**. **Finality** is defined as the period (the period B below) since the tx was included in the Block X0 until the Block X6 was created (i.e., 6 confirmations). **Latency** **(or confirmation time)**, is called the period from when the node propagated the transaction until the Block X6 was created (the period C below : A + B).

**Could someone confirm if this is the real meaning of the terms waiting time, throughput, finality, latency, and confirmation time?**

**Tags:** confirmations, terminology, transaction-propagation, latency


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## 2 answers

### Answer by username_2 on 2022-07-24. Score: 4 | Accepted answer

I think some of these terms (e.g. latency) might be used in multiple different Bitcoin settings and hence have different meanings but I can give you my understanding of how each term is typically used.

**Waiting Time** - The time it takes for a transaction that you broadcast to be included in a block (with a single confirmation).

**Throughput** - The number of transactions a blockchain can process per second. In Bitcoin's case I think it is approximately 7 transactions per second with blocks mined on average every 10 minutes.

**Finality** - When a transaction is considered final i.e. it is highly, highly unlikely for a blockchain re-org that would impact that transaction's inclusion in the blockchain. Typically we consider a transaction final when a transaction has 6 confirmations: it was included in a block and 5 other blocks have since been mined on top of that block.

**Latency** - The time it takes for a transaction to reach a specified destination (perhaps the entire network, a specific miner or all miners).

**Confirmation Time** - Used interchangeably with **Waiting Time**. The time it takes for a transaction to be confirmed (and included in a block) from the point you broadcast it out to the network.


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### Answer by username_1 on 2024-01-26. Score: 1

I can address some of your questions:

**Throughput** shows how many transactions per second the blockchain is processing. Right now, Bitcoin processes 2.98 tx/s with a peak at 10.92 tx/s.

**Finality** refers to the point at which a transaction becomes immutable in the blockchain’s ledger, making it irreversible. While Time to Finality represents the duration required for a transaction to achieve finality within a blockchain network. TTF for Bitcoin is 1 hour.

Also, there is a metric called **Block Time**. It's the average amount of time it takes for a new block to be added to a blockchain. Right now, Bitcoin block time is 7m 1s.

We track all these three metrics at [chainspect.app](https://chainspect.app/). So you can easily verify the exact numbers and dig into our in-depth explanations of [Throughput (TPS)](https://chainspect.app/blog/transactions-per-second-tps), [Time to Finality (TTF)](https://chainspect.app/blog/time-to-finality-ttf), and [Block Time](https://chainspect.app/blog/block-time).

I hope my explanation answers some of your questions :)


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