I. Introduction
Information theory paved the way for the development of communication theory, and evolved over the years to include a wide range of communication applications, such as, compression, coding, and statistics. However, it has fallen short of leaving its distinct mark in the field of communication networks [3], [4], and this confinement is mainly attributed to the asymptotic nature of Information theory. Shannon’s definition of channel’s capacity requires infinitely large blocklength in order to guarantee arbitrary small probability of error, for all rates below the channel’s capacity. Thus, classical information measures cannot handle realistic scenarios where the blocklength is finite. Finite blocklength is also inextricably linked with the requirement of Ultra-Reliable Low-Latency Communications (URLLC) [5], which emerged to support a vast family of applications that require the simultaneous consideration of stringent latency and reliability criteria, and is a key factor for many vertical markets, including, autonomous vehicles, remote healthcare and mission critical communications.