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Sumeragi’s consensus algorithm

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Blockchains have systems that allow them to first agree on a single version of the truth and then record that agreed-upon truth in their ledger. An agreement system is called a consensus. A consensus is complicated, and grasping the nuances of how and why a consensus acts in the way it does is far more than a business professional needs to know. (If you’re curious, though, or interested in getting into cryptocurrency mining, check out Book 6.) What does matter for you are the consequences of different consensus mechanisms and how they affect what you’re doing on that particular blockchain. Iroha’s consensus, Sumeragi, is worthy of note because it’s very different from traditional blockchains.

Here are a few key things that make Sumeragi different:

 Sumeragi does not have a cryptocurrency.

 Nodes that start consensus are added into the system by the Fabric member services. Nodes build a reputation over time based on how they’ve interacted with the ledger. This is a permission blockchain run by known entities.

 New entries are added to the ledger in a unique way. The first node that starts consensus, called the leader, broadcasts the entry to a group of other nodes; those nodes then validate. If they don’t validate, the first node will rebroadcast after a predetermined duration of time.

Depending on your use case for blockchain, Iroha may be positive or negative. If you’re worried about censorship, Iroha may not be right for you. In this case, you’ll be better off looking at a blockchain that is censorship resistant. If you’re worried about other players on the network committing arbitrage, Iroha may also not be right — further investigation is needed. If you want to know all the players in your blockchain, Iroha may be exactly what you’re looking for.

Cryptocurrency All-in-One For Dummies

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