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Consensus enables agreement on shared states without centralization.
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Different models offer trade-offs between scalability, security, speed, and participation.
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Mechanism design hinges on philosophical factors like authority and stakeholder rights.
Decentralized networks must establish mechanisms to make system-wide decisions and build consensus around accepted truths without relying on central authorities. The models used for collective decision-making are critical for enabling coordination while retaining distributed governance. Analyzing the trade-offs of different consensus algorithms provides insights into the philosophical underpinnings of decentralized governance.
Defining Consensus
Consensus refers to a system state where participating entities agree on matters of shared truth and decision-making. In centralized systems, authorities dictate approved decisions. However, consensus must be established transparently among users w
We współpracy z: https://www.thecoinrepublic.com/2023/09/17/analyzing-decision-making-and-consensus-models-for-building-consensus-in-decentralized-networks/
