January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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How does Proof of Work ensure Byzantine fault tolerance?
Proof of Work is a consensus algorithm designed to make sure that each participant node in the network that creates a block must prove that it has done a certain amount of work on the block before it is inserted in the public blockchain ledger.
Bitcoin's Proof of Work consensus algorithm was designed to make sure that blockchain data is immutable and cannot easily be altered by bad actors. Majority decisions in a blockchain network are represented by the longest chain; this is because it has proof of having done the most work. Whilst this system would achieve a consensus in a decentralized network, what if a bad actor tries to create an alternate blockchain with some fraudulent transactions? ...
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