‘Blockchain Reorg’ signifies an event where a blockchain’s history is rewritten, typically due to competing chains forming and one eventually being accepted as the canonical chain. This process, often referred to as a reorganization, can occur in blockchains that rely on probabilistic finality, such as those using Proof-of-Work consensus. During a reorg, blocks that were previously considered confirmed might be discarded, potentially leading to transaction rollbacks. Such events highlight the dynamic nature of distributed ledger consensus and can have implications for transaction finality and network security.
Context
Blockchain reorgs are a subject of considerable attention, particularly when they impact significant transaction volumes or lead to double-spending incidents. Current discussions often focus on the frequency and severity of reorgs on various networks, and the effectiveness of mitigation strategies employed by exchanges and wallet providers. The development of new consensus algorithms that offer stronger finality guarantees is a critical area of research aimed at reducing the occurrence and impact of such reorganizations.
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