Ledger efficiency refers to the capacity of a distributed ledger system to process and record transactions swiftly and economically. It concerns the speed, throughput, and cost associated with maintaining and updating the blockchain. Optimized ledger efficiency reduces operational overhead, enhances user experience, and supports a higher volume of network activity.
Context
The pursuit of greater ledger efficiency is a primary driver of innovation in blockchain technology, with numerous layer-1 and layer-2 solutions seeking to improve transaction speeds and lower fees. News often covers advancements in consensus mechanisms and scaling techniques designed to address the inherent limitations of early blockchain designs. This remains a key challenge for widespread adoption.
This paper introduces an efficient voting-based consensus for consortium blockchains, boosting performance and expanding decentralized application utility.
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