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We hear plenty of talk of how public blockchains are going to change the world, but to function on a global scale, a shared public ledger needs a functional, efficient and secure consensus algorithm.

One of Bitcoin’s most unique features is its consensus algorithm, which set the precedent for a Byzantine Fault Tolerant (BFT) peer-to-peer currency system. The most common definition of Bitcoin’s ...

The logic embodied in all the nodes of a blockchain that ensures the chain's integrity. Because there is no central authority in a blockchain, the consensus mechanism ensures that at least 50% of the ...