Consensus Mechanisms for the Blockchain

Joshua Gans and Neil Gandal ()
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Neil Gandal: Tel Aviv University

A chapter in The Palgrave Handbook of Technological Finance, 2021, pp 269-286 from Springer

Abstract: Abstract In this chapter, we discuss the fundamental elements of the design of the blockchain. We then examine the equilibrium properties of consensus mechanisms for the blockchain under both proof of work and proof of stake when the blockchain is permissionless, i.e., when there is free entry into becoming a node

Keywords: Consensus Mechanisms; Blockchain; Proof of Work; Proof of Stake; Permissionless (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-65117-6_11

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DOI: 10.1007/978-3-030-65117-6_11

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