Consensus Methodologies

Sean Stein Smith
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Sean Stein Smith: Lehman College, CUNY

Chapter 4 in Blockchain, Artificial Intelligence and Financial Services, 2020, pp 47-66 from Springer

Abstract: Abstract It is also worth noting at this point, and before diving into a conversation between the different types of blockchains, it appears logical to discuss just how information is approved, verified, and added to existing blocks to form the blockchain itself (Andolfatto 2018). There are numerous iterations available in the marketplace, and this is not meant to be an all-inclusive listing nor an exhaustive one. Rather, by understanding what these different approval methodologies are, and having a working baseline for what these options mean, will equip financial professionals with the skills and information necessary to discuss and advise on these important issues moving forward.

Keywords: Consensus; Audit; Proof of work; Proof of stake; Proof of elapsed time; Public blockchain; Private blockchain; Consortium blockchain; ICOs; STOs; Smart contracts; Payment channels (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/978-3-030-29761-9_4

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