A consortium blockchain is a semi-decentralized distributed ledger network governed by a select group of pre-approved, known participants. Unlike public blockchains, transaction validation and network administration are controlled by a limited set of authorized entities. This structure offers a controlled environment, balancing the transparency of public chains with the privacy and performance requirements of private networks.
Context
Consortium blockchains are frequently discussed in enterprise applications where multiple organizations require a shared, verifiable record system without full public exposure. Their utility in areas such as supply chain management, interbank settlements, and secure data sharing initiatives is a significant area of current focus. The debate often centers on their degree of decentralization versus operational efficiency.
This paper introduces an efficient voting-based consensus for consortium blockchains, boosting performance and expanding decentralized application utility.
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