Ledger ordering refers to the definitive sequence in which transactions are recorded, validated, and appended to a blockchain or distributed ledger. This chronological arrangement is fundamental for maintaining the integrity of the system, preventing double-spending, and ensuring the deterministic execution of smart contracts. Different consensus mechanisms, such as Proof of Work or Proof of Stake, employ distinct strategies to achieve finality and establish this authoritative order across all network participants. Consistent ledger ordering is paramount for trustless operations.
Context
The ongoing discussion surrounding ledger ordering centers on optimizing transaction finality and resistance to reordering attacks, particularly in high-throughput blockchain networks. A key debate involves the trade-offs between immediate transaction confirmation and the security guarantees offered by various ordering protocols. Future developments will likely focus on advancements in consensus algorithms that reduce latency for finality, improve resistance to miner extractable value (MEV) through fair ordering mechanisms, and enhance the overall efficiency of transaction processing in decentralized environments.
This research introduces the first DAG-based consensus using asymmetric quorums, allowing nodes' subjective trust assumptions to secure high-performance asynchronous protocols.
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