About this document
Understanding Blockchain Consensus Mechanisms by Edwin Edwin is a document available to read on EtoBox.
Blockchain provides a single, trusted ledger through replication and distributed validation. It uses four key elements: a replicated ledger secured by cryptography, a consensus mechanism, and business logic that can be embedded in the ledger. The document discusses different types of consensus mechanisms used in blockchain, including Nakamoto consensus in Bitcoin, somewhat decentralized consensus in Ripple and Stellar, and Byzantine fault tolerant consensus in permissioned consortium systems.
- Author
- Edwin Edwin
- Language
- EN