Blockchain circle

One stop hot information platform

About us:

Blockchain circle provides the latest information about blockchain, digital currency, digital wallet, exchange, metauniverse, bitcoin, Ethereum, contract, financial management and so on, and always pays attention to the latest market...

What is the consensus mechanism of blockchain

Time : 13/10/2021 Author : 408czd Click : + -
        Blockchain is often referred to as a tool for delivering trust, and behind this trust is the consensus mechanism. The blockchain can be regarded as a distributed ledger with the participation of the whole people, so it is necessary to formulate a set of accepted rules to solve the problems of "how to keep accounts effectively" and "who should be selected to keep accounts", and this set of rules is the consensus mechanism of the blockchain. For ease of understanding, let's give an example. Six people in a dormitory are going to have a dinner. After discussion, they choose to eat hot pot. So eating hot pot is the consensus we have reached. In the way of negotiation, the minority obeys the majority is the consensus mechanism for everyone to determine the dining place. In the world of blockchain, due to its decentralized nature, there is no central bookkeeping institution like a bank to ensure that all bookkeeping contents on the chain are consistent. Therefore, how to make the whole network reach a consensus is crucial.
 
        Consensus mechanism is used to solve this problem. It can be said that consensus mechanism is the core of distributed system. In the consensus mechanism, pow, POS and dpos respectively represent the three main accounting rules of the blockchain network. They play a very important role and are directly related to the allocation of accounting rights and related benefits. Let me introduce the three main consensus mechanisms one by one. The workload certificate is a certificate confirming the workload you have completed. The workload proof mechanism is to prove your contribution value through the workload, and then determine the accounting right and reward according to the size of the contribution value. In the world of blockchain, this proof process depends on the mathematical operation of the computer.
 
        It can be simply understood that if we work together to solve the same problem, the person who first calculates has the right to keep accounts and can get the corresponding remuneration, which is the digital token generated by the network. This is also the process of BTC output. In the BTC network, whoever solves the problem first can get BTC as a reward. The advantages of pow are: first, the accounting rights and rewards are determined by the workload, which is fair and just, and fair competition is realized among nodes (users); Second, the system is completely decentralized and does not need a centralized management organization. The system can operate on its own according to consensus. Its disadvantages are waste of energy and low efficiency.
 
        Participants calculate the same topic together, but only one person can get the bookkeeping right in the end. What others do is useless. However, a large amount of power resources will be consumed in this process. For example, the generation of BTC is based on the pow consensus mechanism, which consumes about several billion dollars of electricity every year. In addition, the number of nodes on the chain is huge. Based on the point-to-point characteristics, when the first person who solves the answer announces and claims the accounting right to the whole network, this process is very time-consuming. Therefore, the efficiency of reaching consensus in the whole network under the pow mechanism is extremely poor. Proof of rights and interests refers to the rights and interests related to the system & mdash& mdash; A token is used as a consideration for dividend distribution and bookkeeper selection.
 
        The greater the number of tokens held, the longer the time, that is, the greater the number of tokens (token days = holding amount * holding time), the easier it is to be selected as the user representative to perform bookkeeping. Because the token is the holder's rights and interests in the blockchain system, this method is called equity based proof, similar to the dividend system of stocks. The advantages of POS are that, first, it consumes less energy, and does not require a large amount of energy consumption compared to POW; Second, the cost of doing evil is high. If you want to attack% of the number of pass days of the network, you need not only a large number of passes, but also hold them for a long time, which is difficult; Third, the time to reach a consensus is short, and if the network environment is good, the speed of milliseconds can be achieved.
 
        POS has two disadvantages. First, tokens tend to be centralized, because the distribution of income depends on the amount and time of tokens. In order to obtain more tokens, tokens will gradually be concentrated; Second, if the liquidity becomes poor, there will be income distribution when the holder holds the token, and the holder has no incentive to cash out, resulting in poor liquidity of the token. Dpos is generated on the basis of pos. under the POS mechanism, people with a small number of tokens have little chance to be elected bookkeeper. In order to obtain the right of accounting, they discussed to adopt the dpos mechanism, that is, to elect producers through voting to perform their rights and obligations on their behalf.
 
        On behalf of the nodes, accounting is performed in turn to obtain dividends, and a part of the total accounting (mining) income obtained by the nodes is distributed to the voting users as compensation. If the producer is incompetent, he may be voted out at any time. The voting weight and distribution income are calculated according to the percentage of the number of crypto tokens held in the total. The voting results of 51% of the shareholders are irreversible and binding. In fact, the dpos mechanism is similar to a real joint-stock company. Ordinary shareholders can not enter the board of directors to participate in the management of the company. They need to vote to elect representatives to form the board of directors, and elect people who can represent their rights and interests according to the voting weight to manage the company. In the blockchain, they elect agents to keep accounts.
 
        The biggest advantage of dpos is that the number of accounting nodes is greatly reduced and the accounting efficiency is high. Its disadvantage is that it weakens the degree of decentralization, and accounts are kept by the selected representatives, and there is a certain degree of centralization control. At present, no consensus mechanism is perfect, and each has its own shortcomings. With the continuous development of blockchain technology, the consensus mechanism will continue to be optimized, and the future can be expected. The introduction of digital currency is the general trend! Bitcoin will benefit greatly in the future! Dongdian cloud, the first brand of mining machine sales trust! The main business is the sales and Trusteeship of various Shenma and ant mining machines. The thermal power of Xinjiang is 0.34, and the electricity lasts for the whole year! At present, the mine has 80000 load stands, professional water cooling system and network isolation system! The temperature is below 20 degrees throughout the year, and two layers of dust-proof nets protect your machine! Welcome to add for communication and interaction!.
 
        
Previous:Blockchain is the most important innovation since the invention of the Internet and will become the infrastructure of the digital economy
Next:No more

Related articles:



© 2005-2032 | Blockchain Circle & & All Rights Reserved    Sitemap1 Sitemap2 If there is infringement, please contact us at: