A committee based approach refers to a consensus mechanism or governance model within a decentralized system where a select group of participants, known as a committee, is responsible for validating transactions or making decisions. This committee is often chosen randomly or through a specific selection process. The goal is to achieve faster consensus and higher throughput compared to networks where every node participates in validation. It aims for efficiency through delegated responsibility.
Context
Committee based approaches are frequently discussed in news concerning blockchain scalability solutions and proof-of-stake protocols, particularly those aiming for higher transaction speeds. While offering performance benefits, concerns about centralization and security vulnerabilities related to committee selection and potential collusion are common debates. Projects implementing these models often highlight their methods for maintaining decentralization and robust security within the committee structure.
A Decentralized Clock Network assigns provably fair timestamps to transactions, fundamentally eliminating front-running and MEV-driven order manipulation.
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