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Ethereum Basics - And How It Differs From Other Blockchainsby@kshitiz
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Ethereum Basics - And How It Differs From Other Blockchains

by Kshitiz.eth6mDecember 25th, 2021
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The Consensus Algorithm runs on a consensus algorithm called Proof of Work. It is the most decentralized consensus algorithm because, in theory, it is resistant to Sybil attacks. In practice, a group of miners can join forces to increase their influence over the network. This is a known attack and is called a 51% attack. However, there are ways to prevent attacks like this by incentivizing miners to work together by paying them more per block. This has its own problems because it increases the total cost of running a node.

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