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Distributed consensus is a mechanism used in decentralized systems, such as blockchain networks, to achieve agreement among distributed nodes on the state or validity of shared data. In the absence of a central authority, achieving consensus is critical for maintaining the integrity and functioning of the system. Various algorithms, such as Proof of Work (PoW) and Proof of Stake (PoS), have been developed to facilitate this process. The goal is to ensure that all participants in the network agree on the truth, even in the presence of faulty or malicious nodes, thereby preventing double-spending, fraud, or data corruption. Distributed consensus is particularly relevant in scenarios involving financial transactions, data storage, or any system where multiple entities must coordinate to reach a common understanding of shared information. While the concept brings about increased security and reduced need for intermediaries, it also poses challenges, such as scalability and energy efficiency, that researchers and practitioners are actively working to address.
Published: April 11, 2023, 6:37 p.m.
In our previous posts we explored the massive potential of the Internet of Things (IoT) along with its key challenges. We also discussed how blockchain could help … Read More
Published: April 18, 2023, 6:46 p.m.
In previous posts we looked at the massive potential of the Internet of Things (IoT) as well as the challenges it faces. We discussed how blockchain technology could help … Read More
Published: May 2, 2023, 12:56 p.m.
In the digital age, few technologies have been as transformative and disruptive as blockchain. This ingenious invention, which serves as the backbone of cryptocurrencies like Bitcoin and Ethereum, has … Read More
Published: June 27, 2023, 6:37 a.m.
In recent times, extensive research has been conducted to investigate how the innovative blockchain technology can provide much-needed enhancements in security and trustworthiness for industrial Internet of Things … Read More
Published: July 18, 2023, 5:56 p.m.
Blockchain technology has emerged in recent years as one of the most disruptive and transformative innovations of the digital age. This groundbreaking technology has the potential to revolutionize a … Read More
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