Consensus speed indicates the rate at which a distributed ledger network can finalize transactions and achieve agreement among its participants. This metric holds significance for user experience and the practical viability of applications constructed on the blockchain. Elevated consensus speeds generally permit higher transaction throughput and swifter confirmation intervals. Diverse protocol designs prioritize varying levels of speed alongside security and decentralization.
Context
The pursuit of increased consensus speed serves as a constant catalyst for innovation in the blockchain sector, frequently appearing in news concerning new layer-one protocols and scaling solutions. Projects often promote their superior transaction processing capabilities, contrasting them with established, slower networks. The challenge persists in attaining rapid consensus without diminishing the fundamental security or decentralization properties of the system.
This simplified BFT protocol achieves faster finality and the easiest known liveness proof, setting a new standard for decentralized system speed and simplicity.
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