dido:public:ra:xapend:xapend.k_consensus:01_objectives:start
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dido:public:ra:xapend:xapend.k_consensus:01_objectives:start [2021/07/22 12:55] nick |
dido:public:ra:xapend:xapend.k_consensus:01_objectives:start [2021/11/09 16:56] (current) char |
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| - | ====== 2.0 Consensus Objectives ====== | + | ====== K.2 Consensus Objectives ====== |
| - | [[dido:public:ra:xapend:xapend.k_consensus | Return to DIDO Consensus ]] | + | [[dido:public:ra:xapend:xapend.k_consensus:start| Return to DIDO Consensus ]] |
| ===== Bhardwaj ===== | ===== Bhardwaj ===== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| - | Bhardwaj has proposed the following objectives that should be considered for DIDO Platform Consensus.[[dido:public:ra:xapend:xapend.k_consensus:09_ref:bhardwaj]] | + | Bhardwaj has proposed the following objectives that should be considered for [[dido:public:ra:xapend:xapend.a_glossary:d:dido_platform|DIDO Platform]] Consensus.[[dido:public:ra:xapend:xapend.k_consensus:09_ref:bhardwaj]] |
| ==== Unified Agreement ==== | ==== Unified Agreement ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| **Unified Agreement** is one of the prime objectives of consensus mechanisms is attaining unified agreement. | **Unified Agreement** is one of the prime objectives of consensus mechanisms is attaining unified agreement. | ||
| - | Unlike centralized systems where having a trust on authority is necessary, users can operate even without building trust in each other in a decentralized manner. The protocols embedded in the Distributed blockchain network ensures that the data involved in the process is true and accurate, and the status of the public ledger is up-to-date. | + | Unlike centralized systems where having a trust on authority is necessary, users can operate even without building trust in each other in a decentralized manner. The [[dido:public:ra:xapend:xapend.a_glossary:p:protocol|protocols]] embedded in the Distributed [[dido:public:ra:xapend:xapend.a_glossary:b:blockchain_network|blockchain network]] ensures that the data involved in the process is true and accurate, and the status of the public [[dido:public:ra:xapend:xapend.a_glossary:l:ledger|ledger]] is up-to-date. |
| ==== Align Economic Incentive ==== | ==== Align Economic Incentive ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Align Economic Incentive occurs when it comes to building a trustless system that regulates on its own, aligning the interests of participants in the network is a must. | Align Economic Incentive occurs when it comes to building a trustless system that regulates on its own, aligning the interests of participants in the network is a must. | ||
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| ==== Fair & Equitable ==== | ==== Fair & Equitable ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Fair and Equitable consensus mechanisms enable anyone to participate in the network and use the same basics. This way, it justifies the open-source and decentralization property of the blockchain system. | Fair and Equitable consensus mechanisms enable anyone to participate in the network and use the same basics. This way, it justifies the open-source and decentralization property of the blockchain system. | ||
| ==== Prevent Double Spending ==== | ==== Prevent Double Spending ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Consensus mechanisms work on the basis of certain algorithms that ensure that only those transactions are included in the public transparent ledger which is verified and valid. This solves the traditional problem of **double-spending**, i.e, the problem of spending a digital currency twice. | Consensus mechanisms work on the basis of certain algorithms that ensure that only those transactions are included in the public transparent ledger which is verified and valid. This solves the traditional problem of **double-spending**, i.e, the problem of spending a digital currency twice. | ||
| ==== Fault Tolerant ==== | ==== Fault Tolerant ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Another characteristic of the Consensus method is that it ensures that the blockchain is **fault-tolerant**, consistent, and reliable. That means, the governed system would work indefinite times even in the case of failures and threats. | Another characteristic of the Consensus method is that it ensures that the blockchain is **fault-tolerant**, consistent, and reliable. That means, the governed system would work indefinite times even in the case of failures and threats. | ||
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| ===== Shah ===== | ===== Shah ===== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Shah has defined the following objectives for using Consensus: | Shah has defined the following objectives for using Consensus: | ||
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| The Mechanisms of consensus allow anyone to participate and use the same basics in the network. It thus supports the blockchain system’s open-source and decentralization property. | The Mechanisms of consensus allow anyone to participate and use the same basics in the network. It thus supports the blockchain system’s open-source and decentralization property. | ||
| - | Prevent Double Spending | + | ==== Prevent Double Spending ==== |
| - | Consensus processes operate based on certain algorithms to ensure that the public ledger only contains certain transactions that are checked and legitimate. This solves the traditional double-spending issue, i.e. the issue of twice spending a digital currency. | + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] |
| + | |||
| + | [[dido:public:ra:xapend:xapend.a_glossary:c:consensus_process|Consensus processes]] operate based on certain algorithms to ensure that the public ledger only contains certain transactions that are checked and legitimate. This solves the traditional double-spending issue, i.e. the issue of twice spending a digital currency. | ||
| ==== nUnified Agreement ==== | ==== nUnified Agreement ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Achieving common understanding is one of the primary goals of consensus processes. | Achieving common understanding is one of the primary goals of consensus processes. | ||
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| ====n Align Economic Incentive ==== | ====n Align Economic Incentive ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Aligning the interests of network members is a must when it comes to building a trustless framework that governs on its own. | Aligning the interests of network members is a must when it comes to building a trustless framework that governs on its own. | ||
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| ==== Fault-Tolerant ==== | ==== Fault-Tolerant ==== | ||
| + | [[dido:public:ra:xapend:xapend.k_consensus:01_objectives:start | Return to Top]] | ||
| + | |||
| Another advantage of the Consensus approach is that it ensures that the blockchain is tolerant to faults, consistent and secure. Which means, even in the case of failures and risks, the controlled system would work indefinitely. | Another advantage of the Consensus approach is that it ensures that the blockchain is tolerant to faults, consistent and secure. Which means, even in the case of failures and risks, the controlled system would work indefinitely. | ||
dido/public/ra/xapend/xapend.k_consensus/01_objectives/start.1626972926.txt.gz · Last modified: 2021/07/22 12:55 by nick
