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Consensus Mechanisms

In: Build Your Own Blockchain

Author

Listed:
  • Daniel Hellwig

    (Kepler Cannon)

  • Goran Karlic

    (Kepler Cannon)

  • Arnd Huchzermeier

    (WHU - Otto Beisheim School of Management)

Abstract

OfConsensus mechanism one blockchain’sBlockchain most prized features is the consistency, hence security, it provides to the stored data. Consistency is achieved through consensus mechanismsConsensus mechanism, the most common of which is Bitcoin’sBitcoin Proof of WorkProof of work (PoW) mechanism.

Suggested Citation

  • Daniel Hellwig & Goran Karlic & Arnd Huchzermeier, 2020. "Consensus Mechanisms," Management for Professionals, in: Build Your Own Blockchain, chapter 0, pages 53-74, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-40142-9_3
    DOI: 10.1007/978-3-030-40142-9_3
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