Blockchain Consensus Mechanisms
The cluster focuses on discussions about achieving distributed consensus in blockchains, including Nakamoto Consensus, proof-of-work alternatives, the Byzantine Generals problem, and requirements for trustless, permissionless systems without majority attacks.
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How is consensus achieved without proof-of-work?
To establish "good enough" distributed consensus without burning absolutely enormous amounts of energy doing throwaway math problems?
Don't you need to also trust all of the other nodes on the network to come to consensus?
It's not a consensus mechanism in the rigorous sense, it's more similar to a reliable broadcast protocol (less powerful)
Can't we just agree to use one consensus protocol?
Is there a more efficient system to arrive at consensus of a state in a distributed, trust-less, permission less manner?
Doesn't this only work if no one has the ability to take over 50% of the network?
the blockchain is a solution to the Byzantine generals problem.
so their distributed ledger consensus rule for all the peers is "check with central authority"? this is golden!
For those of us less aware of the crypto space, can you ELI5 the Byzantine Generals problem and how the Nakamoto Consensus fixes it?