The longest chain rule is a consensus mechanism primarily used in Proof-of-Work blockchains, such as Bitcoin, to determine the authoritative version of the transaction history. When two or more valid blocks are mined simultaneously, creating a temporary fork, the network adopts the chain that accumulates the most subsequent blocks, thereby becoming the longest. This rule helps maintain network consistency.
Context
News often refers to the longest chain rule when explaining blockchain forks, network security against 51% attacks, and the fundamental principles of Proof-of-Work consensus. Its operation is critical for preventing double-spending and ensuring the immutability of the ledger. Understanding this rule is essential for comprehending how decentralized networks resolve conflicting transaction histories.
This research introduces revelation mechanisms, notably Simultaneous Report and Solomonic, to enforce truthful block proposals and resolve forks, enhancing blockchain security and efficiency.
This research introduces novel mechanism design principles to fortify blockchain consensus, ensuring truthful block proposals and mitigating fork-related coordination failures.
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