Ledger Function Design refers to the architectural blueprint and operational specifications that govern how a distributed ledger records, verifies, and stores transactional data. This encompasses the rules for block creation, transaction validation, and data synchronization across the network. It dictates the fundamental capabilities and limitations of the blockchain system. Effective design is crucial for network performance.
Context
Discussions about ledger function design are central to understanding the capabilities and security properties of various blockchain protocols. Innovations in this area aim to enhance scalability, privacy, and interoperability, directly impacting the types of digital assets and applications that can be supported. News often highlights new design paradigms seeking to overcome existing blockchain limitations.
The Mutually-Assured-Destruction DAG protocol introduces a novel ledger function that destroys competing block content, fundamentally eliminating MEV-based selfish mining incentives.
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