Hey people!
As I told you, I started my internship in Blockchain recently (No, I'm not going to talk about Bitcoin, nor Libra (I'm waiting for the white paper for ahah)), and one of my tasks is to study the different consensus. And I would like to share with you a brief explanation of them.
Before we begin, what is a consensus? Very simply it is a general agreement between the different participants to change the state of the Blockchain. As many people know, the blockchain is a distributed ledger. When a block is created, the Blockchain changes its status according to the information contained in it.
Consensus is a key issue in a blockchain, since it will shape the governance of the blockchain. The first idea of consensus was developed in 2008 by Satoshi Nakamoto and applied in 2009 through the Bitcoin of which he is the inventor.
There is now a different consensus in development that proposes both a vision of governance and a different Blockchain Economy (Proof of Stake, Proof of Authority, Proof of Importance, etc.)
Next post: Proof of Work!
