(NKJV) "Now faith is the substance of things hoped for, the evidence of things not seen."
(ESV) "Now faith is the assurance of things hoped for, the conviction of things not seen."
(YLT) "And faith is of things hoped for a confidence, of matters not seen a conviction"
The previous verse speaks of those "who believe to the saving of the soul." Ultimately, faith is the medium by which the salvation of Jesus Christ is transferred to man. Faith is not some vague wish, rather it is the substance of things hoped for. Through faith, the Christian can be assured of the salvation which is to come. Faith also creates a confidence in the Lord with regard to his promises. For, "He who promised is faithful (Hebrews 10:23)."