Consensus mechanism – one of the core technologies of blockchain

Time:2022-6-10

id:BSN_2021

Official account: BSN Institute

Blockchain is an integrated innovation of multiple computer technologies. Among these sources, the most important one is the consensus mechanism technology.

The consensus mechanism is how all accounting nodes reach a consensus to determine the validity of a record, which is both a means of identification and a means to prevent tampering. Blockchain proposes four different consensus mechanisms, which are applicable to different application scenarios and strike a balance between efficiency and security.

The consensus mechanism of blockchain has the characteristics of “the minority obeys the majority” and “everyone is equal”. The “minority obeys the majority” does not fully refer to the number of nodes, but also can be the computing power, the number of shares or other characteristic quantities that can be compared by computers. “Everyone is equal” means that when a node meets the conditions, all nodes have the right to give priority to the consensus results, which may become the final consensus results after being directly recognized by other nodes. Taking bitcoin as an example, the workload proof is adopted. Only when more than 51% of the accounting nodes in the whole network are controlled, it is possible to forge a non-existent record. When enough nodes are added to the blockchain, this is basically impossible, thus eliminating the possibility of counterfeiting.