Consensus

Kuo Chuen LEE David, Joseph Lim, Kok Fai Phoon and Yu Wang

Chapter 17 in Foundations for Fintech, 2021, pp 331-346 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Consensus is a key concept in Blockchain and Distributed Ledger Technologies. Blockchain networks are distributed in a manner whereby participants do not necessarily know or trust each other. This makes agreeing on the state of the network challenging, particularly when there may be bad actors. Consensus protocols are designed to achieve agreements within the network and to ensure that participants act in the best interest of the network.

Keywords: Financial Technology; Finance; Financial Innovation; Statistics; Quantitative Methods; Ethics; Governance; Emerging Technology; Data Science (search for similar items in EconPapers)
JEL-codes: G2 O33 (search for similar items in EconPapers)
Date: 2021
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