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Consensus Algorithms: How Computers Agree and Stay Safe Togetherby@sahil4555
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Consensus Algorithms: How Computers Agree and Stay Safe Together

by Sahil Sojitra6mJuly 31st, 2023
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Consensus algorithms are essential in decentralized networks, ensuring that computers agree on shared data and valid transactions without a central authority. In simple terms, it's like friends agreeing on changes to a shared document. Proof of Stake (PoS) is one such algorithm used in Ethereum, where validators stake cryptocurrency to propose and validate blocks. Attacks like Nothing-at-Stake, Long-Range, Nothing-to-Stake, and 51% can compromise network security. Ethereum's PoS includes measures like slashing penalties and checkpointing to protect against these threats. Consensus algorithms keep decentralized systems secure and trustworthy, paving the way for a decentralized and secure digital future.
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Sahil Sojitra

Sahil Sojitra

@sahil4555

Golang, Blockchain & Competitive Programming. Tech enthusiast, IT Student. Problem solver. Ready for challenges!

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Sahil Sojitra HackerNoon profile picture
Sahil Sojitra@sahil4555
Golang, Blockchain & Competitive Programming. Tech enthusiast, IT Student. Problem solver. Ready for challenges!

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