Proof Of Stake In Consensus Algorithms
The complete independence of blockchain nodes is useful for resiliency and implementing a largely trustless system but becomes a problem when it comes to keeping the network synchronized. Without a centralized authority, there is no one to rubber-stamp the official version of each block in the blockchain. This is where blockchain consensus algorithms come in. They define a means of selecting the next block creator and arbitrating disputes between conflicting versions of the blockchain in a decentralized fashion....