March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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Consensus mechanism
A consensus mechanism is a set of steps that are taken by most or all nodes in a blockchain to agree on a proposed state or value. For more than three decades, this concept has been researched by computer scientists in industry and academia. Consensus mechanisms have most recently come into the limelight and gained considerable popularity with the advent of blockchain and Bitcoin.
There are various requirements that must be met to provide the desired results in a consensus mechanism. The following describes these requirements:
- Agreement: All honest nodes decide on the same value
- Termination: All honest nodes terminate execution of the consensus process and eventually reach a decision
- Validity: The value agreed upon by ...