Distributed ledgers are databases that are shared and synchronized across multiple sites, countries, or institutions. Each participant in the network holds an identical copy of the ledger, ensuring transparency and resistance to single points of failure. Blockchain is a prominent type of distributed ledger technology.
Context
The operational integrity and consensus mechanisms of distributed ledgers are central to understanding the security and functionality of most digital assets and decentralized applications. Discussions frequently address scalability challenges, the energy consumption of certain consensus models, and the potential for regulatory oversight. Future developments to watch include advancements in sharding, layer-2 scaling solutions, and the implementation of more energy-efficient consensus protocols.
This research systematically evaluates thirty distributed ledger consensus algorithms, illuminating their trade-offs for robust system design and application.
This research reveals how adaptable resource use in consensus mechanisms is key to maintaining blockchain decentralization amidst evolving network conditions.
This research establishes a foundational mathematical framework to rigorously assess the economic security of permissionless blockchain consensus, enabling the design of more resilient protocols.
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