Consensus stability refers to the reliability and resilience of a blockchain network’s agreement mechanism. It ensures that all participating nodes accurately and consistently validate transactions, maintaining the ledger’s integrity. High consensus stability prevents network forks, censorship, and unauthorized alterations to transaction history. This characteristic is vital for the dependability of digital assets and the applications built upon them.
Context
The current focus regarding consensus stability often involves the security and robustness of various proof-of-stake (PoS) and proof-of-work (PoW) implementations. A significant debate centers on the trade-offs between decentralization, security, and energy consumption in different consensus models. Key future developments to watch include the ongoing research into novel consensus algorithms and the practical application of formal verification techniques to bolster the assurance of network agreement.
This research establishes a formal theory for Maximal Extractable Value (MEV), providing a foundational framework to analyze and mitigate economic attacks on public blockchains.
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