Distributed Consensus Flashcards
1
Q
What is distributed consensus?
A
Decision making process between many nodes over what is right/wrong.
2
Q
What is the problem of distributed consensus?
A
Node(s) can try to manipulate the ledger.
3
Q
What is the process used to solve the problem of distributed consensus?
A
Mining.
4
Q
What do the miners generate to ensure that the distributed consensus is true?
A
Proof-of-Work.
5
Q
What happens when consensus isn’t agreed upon all members of the network?
A
A fork.
6
Q
What is a fork?
A
A point where a new branch of transactions is created when previous transactions are not trusted.
7
Q
What does distributed consensus rely on to function?
A
Hash Rate
8
Q
What is hash rate?
A
of calculations performed by the network.
9
Q
% hashing power needed for a successful attack on the network?
A
51%
