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Chapter Eleven: Cryptographic consensus mechanisms^☆

Shubhani Aggarwal; Neeraj Kumar Thapar Institute of Engineering & Technology, Patiala, Punjab, India

Abstract

A consensus mechanism is a fault-tolerant mechanism used in a blockchain to reach an agreement on a single state of the network among distributed nodes. These are protocols that make sure all nodes are synchronized with each other and agree on transactions, which are legitimate and are added to the blockchain. Their function is to ensure the validity and authenticity of the transactions. Common consensus mechanisms that have been described in this chapter such as proof-of-work (PoW), proof-of-stake (PoS), delegated proof-of-stake (DPoS), practical Byzantine fault tolerance (PBFT), ...

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