Slashing conditions are specific rules set in blockchain networks to penalise validators or participants who act dishonestly or break protocol rules. These conditions are designed to keep the network secure and discourage harmful behaviour. If a participant triggers a slashing condition, they may lose part or all of their staked tokens as a penalty.
Economic security in blockchain refers to the measures and incentives that protect a blockchain network from attacks or manipulation by making it costly or unprofitable to do so. It involves designing systems where honest participation is more rewarding than dishonest behaviour. This helps ensure that transactions remain trustworthy and the network operates smoothly.
Finality gadgets are special mechanisms used in blockchain systems to ensure that once a transaction or block is confirmed, it cannot be changed or reversed. They add an extra layer of certainty to prevent disputes or confusion about which data is correct. These gadgets work alongside existing consensus methods to provide a clear point at…
Chain selection rules are the criteria and procedures used by blockchain networks to decide which chain of blocks is considered the valid and authoritative version of the transaction history. These rules are essential when there are competing chains, such as after a network split or temporary disagreement among nodes. By following the chain selection rules,…
Proof of Capacity is a consensus mechanism used in some cryptocurrencies where miners use their available hard drive space to decide mining rights and validate transactions. Instead of using computational power, the system relies on how much storage space a participant has dedicated to the network. This approach aims to be more energy-efficient than traditional…
Proof of Importance is a consensus mechanism used in some blockchain networks to decide who gets to add the next block of transactions. Unlike Proof of Work or Proof of Stake, it considers how active a participant is in the network, not just how much cryptocurrency they own or how much computing power they have….
Nominated Proof of Stake, or NPoS, is a method used by some blockchain networks to choose who can create new blocks and verify transactions. In this system, token holders can either become validators themselves or nominate others they trust to act as validators. The more nominations a validator receives, the higher their chance of being…
Delegated Proof of Stake, or DPoS, is a consensus mechanism used by some blockchain networks to validate transactions and secure the network. Instead of every participant competing to validate transactions, users vote for a small group of trusted representatives called delegates. These delegates are responsible for confirming transactions and adding new blocks to the chain….
Proof of Elapsed Time, often shortened to PoET, is a consensus mechanism used in blockchain networks to decide who gets to add the next block of transactions. It relies on trusted computing environments to randomly assign wait times to participants. The participant whose wait time finishes first gets to create the next block, which helps…
Hybrid consensus models combine two or more methods for reaching agreement in a blockchain or distributed system. By using elements from different consensus mechanisms, such as Proof of Work and Proof of Stake, these models aim to balance security, speed, and energy efficiency. This approach helps address the limitations that each consensus method might have…