January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Consensus in Steem
Just like other blockchain applications, a consensus mechanism is used in Steem to include any block of transactions in the public ledger. The individuals responsible for including a block are elected by the people in the Steem network. Block creation is done in rounds, and in each round 21 witnesses are selected for the created blocks. Any witness who misses a block and hasn't produced one in the last 24 hours will be disabled until they update their block signing key.
The consensus mechanism ensures that everyone has the potential to participate in block production, regardless of whether he or she is powerful enough to end up at the top. Possessing more SP improves a user's voting power.